Portable Medical Devices Market Value,Segments and Growth 2015-2025 FMI | Page 3

Report Description Report Description The portable medical devices market encompasses all healthcare associated diagnostic and therapeutic medical devices that are miniature in nature and can be easily transported from one location to another without any inconveniences. The market for portable devices has evolved greatly over the years particularly due to miniaturization of electronic components. Low power consumption technology has also greatly helped in developing portable technologies. As the world has begun shrinking due to increased connectivity, telemedicine, home-care and remote monitoring have become familiar terms with modern healthcare. Several factors led to the increasing need for portable devices, of which the major impact factors include increasing demand for diagnostics in remote areas of the world where a significant population continues to reside, increasing number of emergency medical services such as ambulances and helicopters that are required to be well equipped, military medicine for on-field applications and aging population that has begun to feel the pressure of moving to and fro from hospitals for simple diagnostic procedures. In a field like healthcare, the upcoming markets such as wearable medical devices and smart wearable sensors have culminated in the large revenue generation since the past several years which is expected to continue in the coming years as well. Several government initiatives to reduce the hospitalization time for patients has begun over the world and particularly in North America primarily enforced due to high healthcare expenditure that the government has had to endure. Re-hospitalization may be investigated by government to understand if there has been a shortfall from medical experts that led to re-hospitalization and may result in the medical expert being penalized along with the hospital. Thus portable medical devices will play a major role to reduce healthcare expenditure and increase space in hospitals by freeing beds for serious patients.