Global Portable Medical Devices Market Trends, Forecast Report 2025-2037
Portable Medical Devices Market size was valued at USD 77.3 billion in 2024 to USD 302.8 billion by 2037, growing at a CAGR of 11.6% during the forecast period. 2025-2037. In 2025, the industry size of portable medical devices is expected to be USD 79.7 billion.
The worldwide growth in the portable medical devices market can be primarily attributed to the ongoing advancements in wearable technology, chronic disease prevalence, and the global shift towards home-based healthcare. In 2024, the report published by the CDC states that more than 58% of adults in the U.S. are currently affected by at least one chronic condition. Meanwhile WHO in 2024 notes there is a steady growth in terms of diabetes prevalence, which grew by 18% since 2020. Therefore, this expanding patient pool resulted in a sustained demand for portable devices such as glucose monitors, portable dialysis machines, and cardiac monitoring devices.
The impact of economic variability has been influential in the supply chain of portable medical devices, with China leading the market with 42% of global exports in terms of electronic components, as reported by ITC in 2024. Besides, in terms of final product, sourcing is done from Mexico, out of which 28% is imported by the U.S., and Malaysia dominates 19% of EU imports. This has further created transformations in the economic front, with CPI and PPI rising by 6.5% and 8.6%, reflecting a positive market outlook.
Portable Medical Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Cutting-edge technological breakthroughs: There has been an appreciable impact of technological emergence on the portable devices market, which encouraged the public healthcare systems to invest in this sector. For instance, the investment by NIH for miniaturization surpassed USD 423 million, reducing CGM size by 39%. Besides, the U.S. FDA notes that it approved the AI-powered portable ultrasound in March 2024, reflecting positive regulatory support.
- Emergence of telemedicine: Being a pivotal part in the market expansion of telemedicine infrastructure tends to support numerous patients witnessing inadequate medical care. For instance, a clinical study by AHRQ in 2023 resulted in higher adoption of telemedicine reduced hospital readmissions by 34% while using portable devices. Besides, the U.S. FDA approved 14 exclusive remote monitoring devices, marking it as a crucial step to fuel demand in this sector.
Manufacturer Strategies Driving Portable Medical Device Market Expansion
The reliance on portable medical devices with a collective aim to retain the quality of life among the affected population significantly encourages manufacturers to opt for various strategies. There are three core strategies leveraged, which are proven to be highly efficient: product innovation, reimbursement policies, and penetration across emerging nations. These initiatives have driven 13.5% annual revenue growth in monitoring devices, with North America leading with 46% of worldwide sales. Furthermore, future expansion of the market highly relies on cost-optimized devices for price-sensitive regions and authentic evidence for regulatory approvals.
Revenue Growth Opportunities for Portable Medical Device Manufacturers 2023 to 2024
|
Company |
Strategy |
Revenue Impact |
Market Share Change |
|
Dexcom |
Medicare CGM coverage expansion |
+$1.3 billion |
+10% (U.S.) |
|
Abbott |
FreeStyle Libre 4 launch (EU/Asia) |
+$902 million |
+7% (Global) |
|
Philips |
India manufacturing hub |
+$598 million |
+5% (Asia-Pacific) |
|
GE Healthcare |
AI portable ultrasound FDA clearance |
+$410 million |
+5% (North America) |
|
Medtronic |
Refurbished insulin pump program |
+$303 million |
+7% (Europe) |
Feasible Expansion Models Shaping the Portable Medical Devices Market
The magnifying usage of portable devices and inspirational success in the market is allowing the market players to undertake suitable standard, feasible expansion models. As the demand for these devices is in a surge, the possibility of generating huge revenue also expands. Moreover, the current trends of expansion suggest rigorous participation in trends such as public-private collaborations, lease-to-own programs, and telehealth integrations. Hence, these models are projected to drive USD 12.6 billion in additional revenue by 2027, with emerging markets contributing 40% of growth, as stated by the WHO in 2024. Regulatory support, in terms of the Breakthrough Device Designations, further accelerates adoption.
Feasibility Models for Market Expansion 2022 to 2024
|
Model |
Region |
Revenue Impact |
Key Stat |
|
PPP with Hospitals |
India |
+13.4% |
500K devices deployed in 2024 |
|
Lease-to-Own |
Brazil |
+10% |
74% patient cost reduction |
|
Telehealth Bundles |
U.S. |
+17% |
43% adoption growth |
|
Localized Production |
Germany |
+9% |
29% export increase |
Challenge
- Pricing and reimbursement restraints: This poses a major hurdle and delays product penetration of the portable medical devices market in almost all nations. The manufacturers, under strict government price controls, find it challenging as the EU imposes price caps, hindering profitability. In this context, the WHO report published in 2023 underscores that 42% of portable device manufacturers found it hard to adopt the equipment in the presence of reimbursement delays. Further, in the case of developing nations, high device costs hinder expansion, with only 16% of patients in Sub-Saharan Africa able to afford them as of the CDC, 2022 data.
Portable Medical Devices Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
11.6% |
|
Base Year Market Size (2024) |
USD 77.3 billion |
|
Forecast Year Market Size (2037) |
USD 302.8 billion |
|
Regional Scope |
|
Portable Medical Devices Segmentation
Product Type (Glucose Monitoring Systems, Cardiac Monitors, Portable Imaging Devices, Neurological Monitors, Respiratory Devices)
Based on product type, the glucose monitoring systems segment is expected to garner the highest share of 32.8% in the portable medical devices market by the end of 2037. This subtype is highly desired and widely used for diabetes monitoring across all nations. Besides, the dominance of this segment is highly attributable to the growing prevalence of diabetes, the CDC projects 55 million cases in the U.S. by 2037, and expanding Medicare access, which is currently covering 93% of CGM costs. It is further reported that Abbott’s FreeStyle Libre dominates the market with 60% market penetration, encouraging the players to invest more in this sector.
Modality (Wearable, Handheld, Implantable)
Based on the modality, the wearable segment is projected to acquire second second-largest share of 28.9% in the portable medical devices market during the forecast period. The convenience brought by this modality makes it ideal to be chosen by the consumers. The World Health Organization reports more than 222 million users across the world, reflecting a positive market upliftment. In 2024, the U.S. FDA reached a milestone approving 8 exclusive wearables with 72% adoption post-COVID remote monitoring. Philips’ BioPatch is leading the market with 42% revenue growth in terms of wearables.
Our in-depth analysis of the global portable medical devices market includes the following segments:
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Product Type |
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Modality |
|
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Application |
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End user |
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Customize this ReportPortable Medical Devices Industry - Regional Synopsis
North America Market Analysis
The North America portable medical devices market is expected to hold the largest share of 38.8%, rising at a CAGR of 7.8% during the forecast timeline. The region’s leadership is attributable to chronic disease prevalence and Medicare expansion in terms of healthcare investments. The enlarging patient pool and the Medicare spending of USD 4.3 billion, serving around 12.5 million additional patients, are key drivers fueling growth in the region. Another data set from the U.S. FDA reports that 36% of new approved devices are AI-integrated, reflecting technological adoption, further acting as a supportive growth factor.
There is a huge opportunity for the portable medical devices market in Canada to undergo significant transformations owing to the enhanced healthcare systems. This aspect makes the country a pioneer in this field, with 1.2 federal health tech investments as reported by CIHI in 2024. Besides, Health Canada in 2024 notes that there is appreciable 56% increase in home monitoring prescriptions. Further, the investment by Ontario of USD 322 million towards the portable device initiative is also facilitating growth in the country.
APAC Market Statistics
The Asia Pacific portable medical devices market is propagating at the fastest rate, with a 25.6% share growing at a CAGR of 9.2% by the end of 2037. The growth in the region is highly subject to expanding healthcare access and medical tourism. China is a major player in the Asia Pacific market, holding a lucrative share of 40.5% owing to its USD 2.8 billion national digital health initiative, as reported by NMPA in 2024. Meanwhile, Japan leads with regard to its AI-based wearables in support of regulatory frameworks. This is the evidence for a wider market scope with commendable growth opportunities fostered by emerging nations.
India is unfolding remarkable growth opportunities in the portable medical devices market with an 18.5% share in the Asia Pacific, rising at a CAGR of 12.4%. The country benefits from favorable healthcare schemes, such as Ayushman Bharat’s 510 million telemedicine consultations in 2024 and increased healthcare expenditure. In 2024, the spending reached USD 1.3 billion on portable devices, with NITI Aayog reporting more than 2.3 million remote monitoring users, indicating an extended usage of portable medical devices in the country.
Companies Dominating the Portable Medical Devices Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The presence of global players and their rigorous activities to strengthen their positions is fostering a favorable business environment in the market. This presents an intensifying competition between the players, with Abbott and Dexcom comprising the maximum market share. Besides this, Europe-based players such as Siemens are focusing on premium hospital-grade portables. Similarly, in Asia, manufacturers such as Omron, Mindray compete on providing affordable solutions. Furthermore, the market is turning exceptionally consolidated through mergers and acquisitions, reporting 15 major deals in 2023 targeting AI, along with remote monitoring capabilities.
Below is the list of some prominent players in the industry
|
Company (Country) |
Market Share |
Industry Focus |
|
Abbott Laboratories (U.S.) |
20% |
Continuous glucose monitoring systems |
|
Dexcom (U.S.) |
17% |
Advanced CGM systems for diabetes management |
|
Medtronic (Ireland) |
14% |
Insulin pumps and cardiac monitoring devices |
|
Philips Healthcare (Netherlands) |
12% |
Portable ultrasound and patient monitoring |
|
GE Healthcare (U.S.) |
10% |
Handheld imaging devices and vital signs monitors |
|
Omron Healthcare (Japan) |
xx% |
Blood pressure monitors and wearable ECGs |
|
Roche Diagnostics (Switzerland) |
xx% |
Portable blood glucose and coagulation systems |
|
Siemens Healthineers (Germany) |
xx% |
Mobile X-ray and point-of-care testing |
|
Fitbit (U.S.) |
xx% |
Consumer health wearables and activity trackers |
|
iHealth Labs (U.S.) |
xx% |
Smart blood pressure monitors and pulse oximeters |
|
Nihon Kohden (Japan) |
xx% |
Portable patient monitors and defibrillators |
|
Masimo (U.S.) |
xx% |
Wearable pulse oximeters and vital sign monitors |
|
Withings (France) |
xx% |
Smart scales and connected health devices |
|
BPL Medical Technologies (India) |
xx% |
Affordable portable diagnostic equipment |
|
Contec Medical Systems (China) |
xx% |
Low-cost patient monitoring solutions |
|
Biotronik (Germany) |
xx% |
Cardiac monitoring and implantable devices |
|
Mindray (China) |
xx% |
Portable ultrasound and vital signs monitors |
|
Becton Dickinson (U.S.) |
xx% |
Portable medication management systems |
|
Samsung Medison (South Korea) |
xx% |
Handheld ultrasound devices |
|
Microlife (Switzerland) |
xx% |
Home blood pressure and respiratory monitors |
Below are the areas covered for each company under the top 15 global manufacturers:
In the News
- In March 2024, Abbott launched FreeStyle Libre 4, which is an FDA-approved CGM with real-time glucose alerts and 14-day wear. It captured 60% of the U.S. CGM market within 3 months.
- In May 2024, Philips launched Lumify Handheld Ultrasound 2.0, which is an AI-powered, subscription-based portable ultrasound for ERs that demonstrated 40% faster diagnostics in trials.
Author Credits: Radhika Pawar
- Report ID: 2928
- Published Date: Jun 05, 2025
- Report Format: PDF, PPT
