Growth of Self-Care Medical Devices Market: Trends and Insights 2020-2027
This article provides an insight into this fast-growing market and outlines some of the most-common self-care products available in the self-care medical devices market. Self-care medical devices include, blood glucose monitors, blood pressure monitors, body temperature monitors, nebulizers, pedometers, pregnancy/fertility test kits, sleep apnea monitors, and heart rate monitors.
The self-care medical devices market is expected to witness significant growth due to high prevalence of chronic diseases. According to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.
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Increasing geriatric population also aids in growth of the self-care medical devices market. according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
Pedometers: One of the most promising applications of pedometers is in tracking one’s fitness levels. There are many self-care medical devices market players that offer their devices, which allow users to track and maintain their fitness levels at the comforts of their home. Since the market trends of the past decade indicate that sales of fitness products are expected to experience strong gains, companies looking to enter this business sector should make major marketing investments to capture the current market trends.
Moreover, emergence of Covid-19 is also expected to aid in growth of the self-care medical devices market. Globally, as of 4:42pm CEST, 26 April 2021, there have been 146,841,882 confirmed cases of COVID-19, including 3,104,743 deaths, as reported to the World Health Organization.
Heart Rate Monitors and Accessories: These devices are another emerging area of the global self-care medical devices market. Heart rate monitors and heart rate strap are gaining popularity all over the world. These devices enable users to monitor their heart rates effectively, thus helping them manage their fitness routines better. High end heart rate monitor watches are available in North America, thus companies manufacturing these products should capitalize on the high demand for these products.
By introducing new devices into the global self-care medical devices market, companies can improve the quality of life of patients across the globe. They can also tap the healthcare providers’ knowledge and experience by introducing these innovative devices to them.
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Segmentation Analysis:
By Product Type:
- Blood Glucose Monitors
- Blood Pressure Monitors
- Temperature Monitors
- Holter Monitors
- Pregnancy/Fertility Test Kits
- Sleep Apnea Monitors
- Nebulizers
- Pedometers
If opting for the Global version of Self-care Medical Devices Market analysis is provided for major regions as follows:
North America (The US, Canada, and Mexico)
Europe (the UK, Germany, France, and Rest of Europe)
Asia Pacific (China, India, and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America)
Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)
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Major players operating in the global Self-care Medical Devices Market include, 3M Healthcare, Abbott Laboratories, Bayer AG, GE Healthcare, F .Hoffmann-La Roche, Johnson & Johnson, Medtronic, Inc., Omron Healthcare, Philips Healthcare, and ResMed, Inc.
Global Self-care Medical Devices Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in January 2020, ResMed Inc. launched AirFit F30i, its first tube-up full face CPAP mask.
October 2019: OMRON Healthcare, Inc. launched newly redesigned models of its blood pressure monitors with new features
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The post Self-care Medical Devices Market Continues to Expand to Support Development and Size, Share, Outlook, 2020 – 2027 appeared first on Gatorledger.
