Portable
diagnostic devices market insights and analysis by type, monitoring devices,
application and end user –forecast till 2030. Market Research Future asserts
that the global portable diagnostic devices market is estimated to reach USD
39654.25 by 2030 at 8.2% CAGR throughout the assessment period (2022-2030). One
of the key elements encouraging industry expansion is the rapid advancement of
technology. The phrase "portable diagnostic devices" describes
cutting-edge tools that enable users to carry out a diagnosis in a clinic, home,
or in any other remote place. They share robust data processing and feature
durable wireless connection interfaces to provide patients with a sophisticated
user interface. WMAN, WLAN, WWAN, and WPAN are just a few of the networks that
these devices can use to connect with both a single patient and a doctor. In
order to store patient medical records securely, medical cloud hubs are
connected to equipment like blood glucose metres, scales, and blood pressure
monitors.
Market Potential and Pitfalls
With augmenting
technological advancements in portable diagnostic devices, the global market
for portable diagnostic devices is likely to experience an upthrust. For
instance, EKO Devices had received approval from the FDA for Eko Duo which can
be used as an ECG monitoring tool. Factors such as accelerating geriatric
population, augmenting incidences of chronic conditions, the increasing rate of
diagnosis, the presence of a target patient pool, and growing patient awareness
associated with portable diagnostic devices coupled with the improving
treatment rates and healthcare infrastructure are anticipated to foster the
growth of the market throughout the forecast period. Portable diagnostic
devices also enable the ease of diagnostic tests and enable homecare settings.
Information
and communication technologies are extensively used in the healthcare sector
which has led to advancements in the ICT-based medical devices. Portable medical devices are
integrated with ICT and enable the user to perform diagnosis at home, thereby
reducing office visits. Such devices are cheaper than the conventional ones
used by physicians. Such factors are propelling the market to a great extent.
Moreover, the augmenting need for early diagnosis is anticipated to propel the
market growth. The need for medical diagnostic devices in developing and remote
areas are difficult to access, which is increasing the adoption of portable
diagnostic devices.
In
contrast, it is predicted that the key issues impeding market growth over the
course of the evaluation period would be the high cost connected with such
devices, a shortage of educated specialists, and data security. Despite these
setbacks, it is anticipated that government funding and the development of
portable devices for cardiovascular, urological, neurological, and other
applications will lead to new market prospects for portable diagnostic
equipment in the years to come.
Competitive Dashboard
The
prominent players operating the global portable diagnostic devices market are
Cardiac Science, Koninklijke Philips N.V, Sorin Group, Hologic, Siemens AG,
OMRON Corporation, Beckman Coulter Inc., General Electric Company, Schiller AG,
PhysioControl, Zoll Medical, Instrumentation Laboratory, Samsung, PT. RAFA
Topaz Utama, Cooper Surgical, HeartSine, Alere Inc., F. Hoffmann-La Roche Ltd.,
PTS Diagnostics, PixCell, Medtronic PLC, and others.
Global Portable Diagnostic Devices Market:
Segmental Analysis
The portable diagnostic devices market
players has
been segmented on the basis of application, type, and end user.
By mode of
type, the portable diagnostic devices market has been segmented into diagnostic
imaging and monitoring devices. Among these, the monitoring devices segment is
considered to occupy the largest market share and is estimated to retain its
dominance in the coming years. The growth is credited to the augmenting cases
of chronic conditions.
By mode of
application, the portable diagnostic devices market has been segmented into
cardiology, gynecology, urology, gastrointestinal, respiratory, neurology, orthopedics, and others.
By mode of
end-users, the portable diagnostic devices market has been segmented into
clinics, hospitals, diagnostic centers, hospitals, home care settings, and
others. Among these, the homecare setting is predicted to experience the
highest growth rate owing to the increasing demand for home-based treatment.
Regional Insights
Geographically,
the portable diagnostic devices market span across regions namely, Europe,
America, Asia-Pacific, and the Middle East & Africa.
Among all
the regions, the American region is predicted to dominate the global market for
portable diagnostic devices and is estimated to retain its dominance throughout
the forecast period. The growth is credited to the presence of major market
giants coupled with the augmenting healthcare infrastructure in this region.
The total healthcare spending in the U.S. reached USD 3.5 trillion in 2017.
Throughout
the projected period, it is predicted that the Asia Pacific area will grow at
the quickest rate. The region's expansion is being fueled by factors including
the region's rapidly advancing technology. For instance, the Sonon 300L
handheld ultrasound equipment manufactured by South Korean company Healcerion
has FDA certification.
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