Self-Care Medical Devices Market to Soar with Market Value Hitting Over $ 20 Billion by 2026 End

  • 30 Apr 2019

As per the comprehensive market analysis by research experts at FutureWise Research the global self-care medical devices market value is estimated to reach over $ 20 billion by 2026 end, registering a CAGR over 8% during the forecast period of 2019-2026. Technological advancement leads to tremendous innovation in portable and self-monitoring devices like body temperature monitors, pedometers, sleep apnea monitors and so on. The overall inclination and awareness among the wider population towards wearable technology to monitor health status are noteworthy. Lifestyle changes, shortage of time and need to curb in-person visits to clinics for regular health conditions are also fostering significant trends like smart self-care medical devices. For example, smart insulin pumps that can stop dosage when a threshold is signalled by the blood glucose monitor.

Regional Players to Face Tough Competition from Well-Established Market Players
Global self-care medical devices market is swarming with multinational and regional players who compete for cost efficacy, product quality, privacy protection elements, better connectivity and accuracy. However, new entrants and regional players are estimated to compete against currently established players, as the competition intensifies in regards to product innovation over the coming years. The R&D investments and undertaken efforts are anticipated to create tremendous opportunities for novel innovative products during the forecast period.

Global Self-Care Medical Devices Market, by Product Type
•    Blood Pressure Monitors
•    Cardiac Arrhythmia Devices
•    Body Temperature Monitors
•    Blood Glucose Monitors
•    Pedometers
•    Sleep Apnea Monitors
High blood pressure can lead to chronic health issues like cardiac arrest or renal failures. Due to the rise in the elderly population and lifestyle disorders that economically taxing in terms of healthcare expenses demand blood pressure monitors is expected to grow at healthy CAGR during the forecast period. This is followed by the cardiac arrhythmia devices segment which is expected to grow with a single-digit CAGR in the near future.

Global Self-Care Medical Devices Market, by Region
•    Europe  
•    North America  
•    APAC  
•    Latin America
•    Rest of World
Europe and North America dominate the global self-care medical devices market due to high penetration and existing chronic diseases amongst the population. APAC is soon developing a host of growth opportunities due to the new market entrants and online retailing popularity in the region.

Report Summary
Competitive Landscape:
 
•    Tier 1 players- established companies in the market with a major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  
 

FutureWise Takeaways  
•    Growth prospects  
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth  
 

Objectives of the Study:
•    To provide with an exhaustive analysis on global self-care medical devices market by product type and region 
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market  
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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