Global Portable Medical Devices Market: Overview
The global portable medical devices market is witnessing a notable increase in its growth statistics and that will also be the case for the period of 2020 to 2030. As per Transparency Market Research, which is coming up with its report on this market, the growth rate would translate to good outcomes such a host of profitable avenues, ready to be made use of and higher valuation. Players will opt for a number of growth measures to make the most of these opportunities.
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Global Portable Medical Devices Market: Competitive Landscape
In the vendor landscape of global portable medical devices market, the degree of competition is high. The many players are actively seeking out better share of the revenue growth. This goal is led them to opt of many opportunities, organic and inorganic. These are leading to notable market developments. For instance,
In 2018: Acutronic Medical Systems acquired Vyaire Medical in order to better its portfolio, which includes a range of respiratory devices. This is set to spur other players into action, increasing the competition levels, shaping up new notable developments in the future.
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Some of the top notch global portable medical devices market players include:
- Koninklijke Philips N.V
- General Electric Company
- OMRON Corporation
- Hoffmann-La Roche Ltd.
Some of the top growth strategies that are being noted in the market landscape include collaborations and mergers and effective product development, acquisitions and innovations in solutions. Additionally, it is worth noting here that a number of top tier player, some which are mentioned below, are looking to expand operations geographically.
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Global Portable Medical Devices Market: Key Trends and Drivers
- Chronic diseases are a major healthcare issue worldwide. The burden is increasing in ways not seen before and a number of factors such as poor diets, lack of proper exercise, and external environmental factors. In the United States alone, which is a developed nation, the burden is as steep as one in six in every ten people. This is contributing to growth in the global portable medical devices market in a big way over the forecast period.
- Growing geriatric population is another significant growth factor among a host of other, which have been identified and outlined in the upcoming market report prepared by Transparency Market Research. The massive increase is fuelling the market’s growth in a major way and that is helping it chart a high growth trajectory over the forecast period, mentioned above.
Global Portable Medical Devices Market: Regional Analysis
Massive revenue share has been held by the North American region in the recent past. And, the trend is expected to be witnessed over the stated forecast period. Supportive government policies, high treatment rate, highly advanced device development and existence, furtherance of technology enabled gadgets, increasing disposable income, early diagnosis of diseases are all factors that are supporting growth in the region and helping it maintain its dominance of the global portable medical devices market’s regional charts. It is quite pertinent to mention National Cancer Institute’s Cancer Imaging Program as example of government initiatives that drive market forward. Translational, basic and clinical research is also supported by this initiative in both technology as well as imaging.
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It is important to mention the Asia Pacific (APAC) region here. APAC, as per industry experts is sett o chart a stellar growth rate, probably in double digits. Tapping into improving healthcare infrastructure and bettering treatment rate, players will find new and attractive growth opportunities over the period stated above.
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