About Portable Medical Equipment
Portable medical equipment are diagnostic and therapeutic medical devices that are miniature in nature and can be easily moved to new settings and locations without any inconvenience. Portable medical equipment includes patient monitoring devices, medical imaging devices, insulin pumps, and hearing aids. They are designed to monitor and treat the disorders at an earlier stage. The advent of various smart technologies and wireless capabilities makes the portable medical devices equipment attractive. The focus on preventive care is increasing among the people, leading to the adoption of portable medical devices.
Technavio’s analysts forecast the global portable medical equipment market to grow at a CAGR of 8.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global portable medical equipment market for 2017-2021. To calculate the market size, the report considers the sales/values of portable medical devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Portable Medical Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global portable medical equipment market: Medtronic, Philips Healthcare, GE Healthcare, Abbott Laboratories , and Sonova.
Other Prominent Vendors in the market are: Animas, Briggs Healthcare, Contec Medical Systems, Carestream Health, Guangdong Biolight Meditech, GN Store Nord, MinXray, Starkey Hearing Technologies, Siemens Healthcare, and Tandem Diabetes Care.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing online presence of vendors. With the growing preference for home-care settings for portable medical devices, many vendors are increasing focus on online marketing and online retail. Players such as Medtronic and Phonak (Sonova) have created their online presence by creating their official pages on social media sites like Twitter and Facebook. Many vendors are also engaging in online retailing as this allows them to expand their target market beyond clinics and hospitals, and be more accessible to home-healthcare patients. Online retailing also helps vendors to minimize their costs on setup, distribution, and operations. Key vendors such as Medtronic, Roche, and Abbott sell their portable medical devices are already selling their products via websites such as Amazon. Other prominent vendors such as Tandem Diabetes Care and Contec Medical Systems are also selling their devices online to increase their customer reach and overall sales potential.”
According to the report, one of the major drivers for this market is Rise in demand for portable medical devices. Approximately 5.4% of the global population does not have access to essential health services. Hospitals/clinics in many remote areas do not have equipment such as patient monitoring devices and medical imaging devices. The problem becomes more acute in remote areas because of many infrastructural limitations like frequent power cuts, unreliable transportation, and lack of space.
Further, the report states that one of the major factors hindering the growth of this market is High cost of devices. Portable medical devices such as blood glucose monitoring systems, pulse oximeters, ultrasound devices, thermometers, and other point-of-care (POC) devices require frequent battery changes, recharging, and maintenance, which results in high cost. These devices are priced on the basis of the type of function and diagnosis.
Medtronic, Philips Healthcare, GE Healthcare, Abbott Laboratories , and Sonova. Animas, Briggs Healthcare, Contec Medical Systems, Carestream Health, Guangdong Biolight Meditech, GN Store Nord, MinXray, Starkey Hearing Technologies, Siemens Healthcare, and Tandem Diabetes Care.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook