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.
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.
Some of the top notch global portable medical devices market players include:
- Koninklijke Philips N.V
- General Electric Company
- OMRON Corporation
- F. 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.
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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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.