Portable medical devices market driven by the growing population base living in remote areas

The global portable medical devices market was valued at approximately USD 27.8 billion in 2017 and is expected to generate a revenue of around USD 52.3 billion by the end of 2024, growing at a CAGR of 9.3 percent, predicts Zion Market Research. The growing demand for real-time analysis, diagnosis, and monitoring of the patient are boosting the demand for integrated portable technology. Furthermore, wireless technology embedded in portable devices has enhanced the situation handling capabilities of the healthcare equipment. This has resulted in the increase of mobility of the patient. Additionally, allowing the access of patient data through various platforms has increased the opportunities for the portable device market. The global portable medical devices market is primarily driven by the growing population base living in remote areas. This has resulted in the upsurge in the need for advanced and portable healthcare equipment. In addition, growing demand for emergency healthcare services which includes medical transport, ambulances, and helicopters is estimated to propel the growth of the portable device market over the given period of time.

Portable devices are well-suited for the geriatric population base, which may feel hectic while traveling back and forth for treatment procedures. Growing demand for military treatment is further driving the global portable device market. Additionally, smart wearable devices are trending in the global market. However, comparatively higher prices of portable medical devices as compared to the conventional ones may affect the growth of the market in the long run. Nonetheless prominent investment in portable medical devices by the government along with the introduction of portable devices for various aspects which includes urological, cardiovascular, neurological, and many others are likely to disclose the new platform for the portable medical devices market in the near future.