Market Research Future (MRFR) has published on the “Global Portable Diagnostic Devices Market”.
Market Research Future (MRFR) has published a cooked research report on the “global portable diagnostic devices market” that contains information from 2019 to 2032. The portable diagnostic devices market is estimated to register a CAGR of 9.04% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global portable diagnostic devices market— F. Hoffmann-La Roche Ltd, GE Healthcare, Medtronic, Omron Healthcare Inc., Koninklijke Philips N.V., Abbott, samsunghealthcare.com, Stryker, Wellue, and EMAY.
Market Highlights
The global portable diagnostic devices market is accounted to register a CAGR of 9.04% during the forecast period and is estimated to reach USD 149.27 billion by 2032.
growing technological advancements in portable diagnostics offer benefits such as affordability, patient safety, and rapid & quality diagnosis. The market players are bringing new technologies into portable devices, such as 3D ultrasound, advanced features and tools at fingertips, and wireless ultrasound, which are driving the market's growth further propels market growth.
The increasing funding and investment through public and private organizations are creating lucrative growth opportunities for the market during the forecast period. For instance, September 2022: Temasek (Singapore) invested USD 85 million in Molbio Diagnostics Pvt. Ltd. (India). The funding will be used to develop "Truenat" technology, which is a portable, battery-operated real-time PCR platform for infectious diseases such as tuberculosis (TB), COVID-19, hepatitis-C virus, human papillomavirus, influenza, and vector-borne diseases like dengue, chikungunya, and malarial aid in the growth of the portable diagnostic devices market.
Segment Analysis
The global portable diagnostic devices market has been segmented based on type, application, and end user.
On the basis of type, the market is segmented into diagnostic imaging and monitoring devices. The diagnostic imaging is further segmented into CT, X-ray, ultrasound and endoscopes. Furthermore, monitoring devices are segmented into cardiac monitoring, neuromonitoring, respiratory monitoring, ophthalmic monitoring, hemodynamic monitoring systems, vital sign monitors, smart wearable medical device and others. Moreover, cardiac monitoring further bifurcated into Holter monitors, resting ECG system, stress ECG monitors, event monitoring systems, and ECG management systems. Also, neuromonitoring further segmented into EEG machines, EMG machines, ICP monitors, MEG machines, and cerebral oximeters. Further, respiratory monitoring segment into capnographs, spirometers, and peak flow meters. Lastly ophthalmic monitoring further segmented into fundus cameras, tonometry devices, and others. The diagnostic imaging segment dominated the market in 2021 and is projected to be the fastest-growing during the forecast period, 2022–2032. the increase in cases of chronic diseases and change in lifestyle is the main factor driving for the market's expansion.
Based on application, the global portable diagnostic devices market has been segmented into gynecology, cardiology, gastrointestinal, urology, neurology, respiratory, orthopedics, ophthalmology, and others The cardiology segment dominated the market in 2021 and projected to be the fastest-growing during the forecast period, 2023–2032.
Based on end user, the global portable diagnostic devices market has been segmented into hospitals & clinics, diagnostic centers, homecare setting and others. The hospitals & clinics segment dominated the market in 2021 and projected to be the fastest-growing during the forecast period, 2023–2032.
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Regional Analysis
The global portable diagnostic devices market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of US and Canada. The Europe portable diagnostic devices market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The portable diagnostic devices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the world’s portable diagnostic devices market comprises of Middle East, Africa, and Latin America.
the rising demand for portable devices, high treatment rates, and supportive government initiatives for early diagnosis of diseases are expected to foster North America’s market growth.
Moreover, the Europe market has been persistently growing owing to an enabling access to patient data across various platforms and increasing demand for smart wearable devices. Moreover, Rising adoption of advanced medical devices, high treatment rates and supportive government initiatives for early disease detection are driving the growth of the global portable diagnostic devices market in European region.
Additionally, market factors, such as the Rise in the geriatric population, the growing prevalence of diabetes, escalating incidences of heart diseases, and an increase in disposable income along with the adoption of smart wearables are driving the region’s growth.
Furthermore, the rest of the world's portable diagnostic devices market is divided into the Middle East, Africa, and Latin America. The major factors driving the growth of portable diagnostic devices market in the region are the due to Increasing demand for innovative imaging modalities and increase in cases of chronic diseases are significantly contributing to the portable diagnostic devices market.
Key Findings of the Study