Self-Diagnostic Medical Devices Market Size Worth $39.88 Billion, Globally, by 2030- Exclusive Report by The Insight Partners
The global self-diagnostic medical devices market is growing at a CAGR of 7.6% in 2022-2030.
Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Self-Diagnostic Medical Devices Market covers analysis By Product Type (Wearable Devices, Implantable Devices, Handheld/Portable Devices, Stationary Devices, and Others), Component (Software, Devices, and Accessories), Application (Blood Glucose Monitors, Blood Pressure Monitors, Temperature Monitors, Pregnancy/Fertility Test Kits, Sleep Apnea Devices, and Others), End Users (Home Care Settings, Rehabilitation Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)”; the global self-diagnostic medical devices market growth is influenced by increasing number of chronic diseases and technological advancements in self-diagnostic medical devices. However, data breach concerns in self-diagnostic medical devices around the globe are likely to have a negative impact on the growth of the market in the coming years.
Download Sample PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00030108
Global Self-Diagnostic Medical Devices Market Analysis: Competitive Landscape and Key Developments
Medtronic, Roche, Siemens, Johnson & Johnson, Abbott, Omron, Nova Biomedical, Philips Healthcare, Biotronik, and GE Healthcare are a few of the key companies operating in the breast pump market. The market leaders focus on product launches, diversification and expansion, and acquisition & merger strategies, which allow them to access prevailing business opportunities.
In December 2020, DetelPro launched voice-enabled blood pressure monitoring machine. DetelPro BP device is equipped with voice technology which has enabled people to hear their blood pressure readings. DetelPro, the health and hygiene vertical of Detel India, launched a new digital monitoring solution.
Global Self-Diagnostic Medical Devices Market: Segmental Overview
Based on application, the self-diagnostic medical devices market is segmented into blood pressure, temperature, blood glucose, pregnancy/fertility test kits, sleep apnea devices, and others. In 2023, blood glucose monitor are anticipated to dominate the application segment of the market. Growing prevalence of diabetes in developing countries such as India, Poland, Argentina, and Brazil and growing awareness about self-diagnostic kits in these countries is fueling the growth of the blood glucose monitor devices segment
Increasing Number of Chronic Diseases is Expected to Fuel the Growth of Global Self-Diagnostic Medical Devices Market Growth:
Chronic disorders such as cardiovascular, nutritional, and gastrointestinal disorders, rheumatoid arthritis, and neurological disorders affect the overall quality of life. According to the World Health Organization (WHO), about 50% of the global population is estimated to suffer from at least one chronic disease. The Centers for Disease Control and Prevention (CDC) stated that 6 out of 10 people in the US has suffered from at least one chronic disease in 2019. According to the “Worldwide Prevalence and Burden of Functional Gastrointestinal Disorders, Results of Rome Foundation Global Study,” a large-scale multinational study published in 2021, ~40% of 73,076 adults surveyed from 33 countries in the world were suffering from a functional gastrointestinal disorder (GFID). Age-related gastrointestinal problems are more common in the elderly population, aged 64 and above. Per the study titled “Gastrointestinal problem among Indian adults: Evidence from Longitudinal Aging Study in India”, published in 2022, self-reported gastrointestinal disorders prevalence was reported at ~18%. The study also mentions that varying rates of gastrointestinal problems have been observed worldwide, ranging from 14% in Iran to 54% in some western countries.
Cardiovascular diseases (CVDs), especially the cases associated with hectic lifestyles, are a significant cause of mortality globally. According to the International Diabetes Federation (IDF), about 535 million people worldwide, aged 20–79, had diabetes in 2021, and the number is projected to rise to 783 million by 2045. Additionally, diabetes was the cause of 6.7 million deaths worldwide in 2021.
Aging can cause a consistent loss of physiological integrity, resulting in reduced functionality and an increased risk of mortality. The degradation of body function is a key risk factor for contracting most chronic diseases, including diabetes, CVD, and neurological diseases, among elderly patients. According to the Department of Economic and Social Affairs updates from December 2021, more than 250 million senior citizens will suffer from moderate to severe disabilities in 2020. Additionally, a growing preference for in-home care, especially during the COVID-19 pandemic, has bolstered the demand for home infusion products and services. Improvements have also influenced the utilization of next-generation self-diagnostics in homecare settings in their usability and convenience. Thus, the rising incidence of chronic conditions and the growing geriatric population drive the home infusion self-diagnostic medical devices market growth.
Order a Copy of this Report at https://www.theinsightpartners.com/buy/TIPRE00030108
Global Self-Diagnostic Medical Devices Market: Regional Overview
Global self-diagnostic medical devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. During 2023, the region of North America held a maximum share in the self-diagnostic medical devices market. The growth of the market is ascribed due to presence of the large medical devices industry. So, numerous companies in North America are engaged in early detection activities, which require preliminary tests. Moreover, the rise in geriatric population and growing prevalence of diseases and infections is also responsible for fostering the growth of the market in North America.
Go through further research published by The Insight Partners:
Home Medical Devices Market – Global Analysis and Forecast to 2028
Medical Devices Market – Global Analysis and Forecast to 2027
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.