The self-care medical devices market comprises products such as glucose meters, blood pressure monitors, pulse oximeters, pedometers, sleep apnea monitors, and neonatal devices. Self-care medical devices enable patients to monitor health vitals such as blood glucose, blood pressure, and body temperature at home and assist in effectively managing chronic diseases without physician intervention. The adoption of self-care medical devices help lower healthcare costs and reduce hospital visits.
The Global self-care medical devices Market is estimated to be valued at US$ 25.69 Bn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the self-care medical devices market are Hans Zipperle AG, Archer Daniels Midland Company, Kerry Group.
Growing adoption of digital health and increasing investments by market players to launch advanced connected self-care devices present lucrative opportunities in the market.
Rising healthcare costs in developed countries is prompting patients to opt for self-monitoring of health vitals, facilitating the expansion of self-care medical devices across North America and Europe.
Market drivers
The Global Self-care Medical Devices Market Demand is driven by the rising prevalence of chronic diseases such as diabetes, hypertension, and cardiovascular diseases. According to WHO, cardiovascular diseases account for over 18 million deaths annually worldwide. Self-care medical devices enable timely monitoring and management of health vitals in chronic disease patients which otherwise require frequent hospital visits. This reduces healthcare costs significantly and improves access to quality care.
PEST Analysis
Political: Self-care medical devices market is regulated by government agencies for product approvals and reimbursements. Changes in regulatory policies can affect the sales and distribution of such devices.
Economic: Volatility in economic conditions impact the disposable income of consumers and their spending on medical devices for self-care. Recession can lower the demand.
Social: Growing health consciousness and aging population drive the adoption of devices for self-monitoring of chronic conditions. Lifestyle disease prevalence increases the focus on preventive healthcare.
Technological: Advancements in digital connectivity and miniature designs facilitate online consultations and home usage of diagnostic tools. More user-friendly interfaces encourage self-management of treatment.
Around 55% of the global market value is concentrated in North America due to the increasing incidence of chronic disorders and developed healthcare infrastructure in the United States and Canada.
The self-care medical devices market is witnessing fastest growth in Asia Pacific on account of rising healthcare expenditure, growing epidemic of non-communicable diseases and expansion of private insurance coverage in China, India and other emerging nations.
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Global Self-care Medical Devices Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 – DecisionDatabases.comThe comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Self-care Medical Devices Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/646-self-care-medical-devices-industry-market-reportThe report also covers the complete competitive landscape of the global Self-care Medical Devices market with company profiles of key players such as: Medtronic plc.Koninklijke Philips N.V.Bayer HealthCare LLCGeneral Electric CompanyF.
Hoffmann-La Roche AGJohnson & JohnsonResMed, Inc.Omron Healthcare, Inc.Martifarm Ltd.OraSure Technologies, Inc.The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By TypeBlood Glucose MonitorsBlood Pressure MonitorsBody Temperature MonitorsNebulizersPedometersPregnancy/Fertility Test KitsSleep Apnea MonitorsHeart Rate MonitorsHIV Test KitsOthersBy End UsersGeriatricPaediatricsAdultsPregnant WomenBy GeographyNorth America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Self-care Medical Devices Market @ https://www.decisiondatabases.com/contact/download-sample-646The Global Self-care Medical Devices Market has been exhibited in detail in the following chapters –Chapter 1 Self-care Medical Devices Market Preface Chapter 2 Executive SummaryChapter 3 Self-care Medical Devices Industry AnalysisChapter 4 Self-care Medical Devices Market Value Chain AnalysisChapter 5 Self-care Medical Devices Market Analysis By TypeChapter 6 Self-care Medical Devices Market Analysis By End UsersChapter 7 Self-care Medical Devices Market Analysis By GeographyChapter 8 Competitive Landscape Of Self-care Medical Devices CompaniesChapter 9 Company Profiles Of Self-care Medical Devices IndustryPurchase the complete Global Self-care Medical Devices Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-646Other Reports by DecisionDatabases.com:Global Implantable Medical Devices Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Nitinol Medical Devices Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global 3D Printing Medical Devices Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
Self-care medical devices are used for monitoring and measuring various vital parameters of a patient.
Some of the most commonly used self-care medical devices are sleep apnea monitors, nebulizers, pedometers, pregnancy/fertility test kits, Holter monitors, temperature monitors, blood pressure monitors, and blood glucose monitors.
Such medical devices play an important role in monitoring heart rate, blood sugar level, hypertension, and other conditions.
Self-care medical devices help patients to manage their ailments at the comfort of their home.
These devices are available in variety of forms with a variety of features.One of the big changes we see today is the growing number of individuals who are self-care practitioners.
A primary reason for this is that the medical industry has become more reliant on diagnosing and treating disease using highly technical means and expensive equipment.
