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Global Wireless Portable Medical Devices Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: SE10075
  • Available Format: PDF

Wireless portable medical devices are the medical devices that are not restricted to hospitals and can be used in schools, offices, homes and aircrafts to ensure earlier diagnosis and better healthcare monitoring. Rising urbanization and increasing demand of the devices from healthcare industry are the key factors for the growth of wireless portable medical devices. Wireless portable medical devices are widely used in healthcare monitoring application, home diagnosis, medical therapeutics, and for fitness monitoring. Increasing cellular connectivity, coupled with wireless communication advancement is supporting the growth of wireless portable medical devices market. Due to rising income levels and increasing chronic disorders, such as respiratory, diabetes and cardiovascular diseases, the market for wireless portable medical device is expected to gain momentum during the forecast period.

Wireless portable medical devices uses different types of sensors, such as inertial sensor, level sensor, ECG sensor, heart rate sensor, pressure sensor, position sensor, temperature sensor, blood oxygen sensor and others. The wireless portable medical devices in healthcare industry include, cardiac monitors and hemodynamic monitors. Portable medical devices play a vital role in overall analysis and patient monitoring behavior.

Increasing geriatric population is another important driver for wireless portable medical devices market, as the elderly people are more prone to illness and often seek hospitalization. With increasing government support to medical establishments in rural areas, the adoption of advanced medical devices has surged.

High maintenance and renovation cost, strict government policies and standards, and issues in designing and compatibility of devices are major challenges for wireless portable medical devices market. Management of transmission and delay of different types of communications in the system also stands as a challenge for the wireless portable medical devices market.

The portable medical devices market can be segmented on the basis of application, technology, and equipment type. Based on various applications, the global portable medical devices market can be categorized into diagnosis, monitoring, medical therapeutics, fitness and wellness and others. Based on technology, wireless portable medical devices can be categorized into Wi-Fi, ZigBee, BT/BLE, ANT+ and others. Based on type of equipment, wireless portable medical devices can be segmented as insulin pumps, pulse oximeter, medical imaging, digital hearing aid, hemodynamic monitors and others. Advancement in semiconductor technology is expected to make wireless portable medical devices more affordable and user friendly.

North America is the largest market of wireless portable medical devices market, owing to large number of patients suffering from various chronic diseases in the region. Europe is also one of the major wireless portable medical devices market. The large populations of baby boomers coupled with the patient’s convenience, such as home based health monitoring in the region, are some of the most dominant drivers of the market. The wireless portable medical devices market is expected to grow at a fast pace in developing countries, such as India and China, of Asia-Pacific. The healthcare sector in these countries has grown multifold in the past few years and the government investment is further expected to boost the growth of sector. This in turn, is also expected to create opportunities for the wireless portable medical devices market during the forecast period.

Some of the major players in global wireless portable medical device market include, Renesas Electronics Corporation Texas Instruments, Omron Healthcare, Renesas Electronics Corporation, GE Healthcare, STMicroelectronics N.V., Maxim Integrated, ON Semiconductor Corporation, Medtronic, Inc., Freescale Semiconductor Inc., and  Analog Devices Inc.

 

Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
  • Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.
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