Portable 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.
