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Wireless portable medical device market on solid growth path

Article-Wireless portable medical device market on solid growth path

The market for wireless portable medical devices is expected to grow from $1.5 billion in 2013 to $2.83 billion in 2020, achieving an estimated CAGR of 9.5% during that period, according to a recent report from MarketsandMarkets (Dallas, TX). Continued urbanization and demand for advanced medical technology in China and India and investment in more efficient and cost-effective personalized medical care in developed markets are driving this growth, according to the market research firm.

An increase in lifestyle diseases continuously pushes patients to monitor their health status and avoid more serious medical complications, notes the report. Medical devices such as cardiac monitors are continuously gaining market share in the wireless portable medical device applications, add report authors.

In emerging economies, wireless portable devices could be seen as a leapfrog technology that allows healthcare systems to avoid investing in incremental improvements of existing medical devices, similar to the way in which mobile phones replaced further investment in aging, obsolete landline technology.

Segmented by technology, component, application, and geography, the report covers the full range of sensors that are used in medical diagnostic equipment along with the major applications of the wireless portable medical device market including monitoring, medical therapeutics, diagnosis, and fitness and wellness.

The report can be purchased on the MarketsandMarkets website.

TAGS: Medical
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