This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Self-care Medical Devices Market

Self-care Medical Devices Market

Self-care Medical Devices Market Share, Trends Report By Product (Self-monitoring of Blood Glucose, Sleep Apnea Devices, Insulin Pumps, Blood Pressure Monitors), By End User (Geriatrics, Pediatrics, Pregnant Women, Adults), By Distribution Channel - Regional Forecast 2021-2031

Self-care Medical Devices Market
FACT6629MR
  • Jul-2021
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Market Snapshot

Fact.MR’s self-care medical devices industry analysis shows that the global market was valued at US$ 13 Bn in 2020, and is projected to top US$ 20 Bn by 2031, expanding at a CAGR of 6%. Demand for blood pressure monitors is projected to reach a valuation of US$ 3 Bn by 2031, surging at an impressive CAGR of 8%, with that for holter monitors expanding at 5%.

Key Points Covered in Self-care Medical Devices Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • COVID-19 Impact on Sales of Self-care Medical Devices and How to Navigate
  • Recommendation on Key Winning Strategies

Sales Analysis of Self-care Medical Devices from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Fact.MR - a market research and competitive intelligence provider, the global market for self-care medical devices was valued at US$ 9 Bn in 2016, and is anticipated to expand at a CAGR of 6% to top US$ 20 Bn by 2031.

Self-care medical devices are used for monitoring and maintaining vital parameters of patients such as blood sugar level, blood pressure and heart rate. These devices can be used by the patients themselves and do not require the presence of a medical professional.

Electrical variants of self-care medical devices display physiological information at regular intervals using sensors and other input devices that are attached to the patient. They provide cost-effective, periodical check-ups to the patients and help with the timely diagnosis of ailments.

Owing to the growing prevalence of chronic and lifestyle diseases, such as cardiovascular diseases (CVD) and diabetes, along with increasing health awareness among consumers, there has been a rise in the demand for devices that can continuously track the physical well-being of patients.

Furthermore, consumer awareness regarding the advantages of self-care medical devices and the benefits of keeping a regular check on health irregularities in increasing worldwide. As these devices help in significantly reducing the chances of contracting any severe disease, there has been significant growth in their sales.

Additionally, manufacturers are taking initiatives to produce devices that are portable and can be used by patients of all age groups. Advancements in the wearable technology, coupled with the incorporation of sensors to gauge physiological changes more accurately, are also augmenting the products demand.

Increasing geriatric population and rising disposable incomes, along with salient characteristics of these devices such as maintenance of privacy, quick access and timely diagnostic reports, are some of the other factors catalysing market growth.

What are the Key Opportunities on Offer for Self-care Medical Device Manufactures?

Self-care medical devices are used for primary care by patients, witnessing a paradigm shift in treatment from hospital to home based healthcare. Manufacturers are coming up with new and innovative digital monitoring devices that are portable, easy to use and provide accurate readings instantly.

Sedentary lifestyle, poor dietary habits coupled with growing geriatric population has resulted in a steady rise in the number of individuals diagnosed with diabetes and other health ailments.

In addition, technological advancements and increasing awareness about managing various ailments using self-care medical devices are the factors accentuating growth of the market.

Avail customized purchase options for your needs

What are the Restraints being Encountered by Self-care Medical Device Providers?

Side effects and risks associated with implantation of self-care medical devices is expected to hinder growth of the market.

Other major factors hampering growth of the industry for self-care medical devices constitutes of availability of alternative options, and high costs of devices.

Also, the maintenance cost of these devices is high making them less affordable.

Which Region Offers the Largest Opportunity for Self-care Medical Device Sales?

North America contributed the largest share of over 40% of the global market for self-care medical devices. Rising incidence of cardiovascular and respiratory diseases is the major driving factor for growth of market for self-care medical devices in the North American region.

Preference for home-based healthcare monitoring has led to reduction of frequent visits to clinics and hospitals, consequently increasing the uptake of self-care medical devices.

The Asia Pacific region is expected to witness the fastest growth due to expanding population coupled with sedentary lifestyle and rising stress levels. A high prevalence of diabetes and cardiovascular diseases in middle income nations, as compared to that in high-income nations, has left a large number of people undiagnosed and untreated.

However, growing awareness among these people has triggered the demand for self-care medical devices and is expected to further grow during the forecast period.

self care medical devices market by FactMR

An Adaptive Approach to Modern-day Research Needs

Country-wise Analysis

How is China Emerging as a Lucrative Market for Self-care Medical Device Providers?

The demand for self-care medical devices in China was estimated at US$ 4 Bn in 2020 and is expected to surge at a CAGR of 9% over assessment period.

The huge population base with significantly increased rate of chronic diseases in the country are nudging the sales of self-care medical devices in the country.

Also, with the increasing disposable income of the middle class in the country the spending towards personal healthcare has raised in the country further benefitting the market growth.

What are the Market Insights for Self-care Medical Devices in India?

India is among the top 20 markets for medical devices worldwide. The self-care medical devices sector in India comprises large multinationals and small- and mid-sized companies.

The Government of India (GOI) has commenced various initiatives to strengthen the medical devices sector, with emphasis on research and development (R&D) and 100% FDI for medical devices to boost the market.

There has been a significant rise in spending towards self-care medical devices during the current pandemic in the country.

Government initiatives along with the growing preference of people towards homecare treatment has created growth opportunities for manufacturers of self-care medical devices in India.

What is the Demand Outlook for Self-care Medical Devices in the U.S.?

Demand for self-care medical devices in the U.S. was estimated at US$ 3 Bn in 2020. High prevalence of cardiovascular diseases is a major reason for the high demand for self-care medical devices in the country.

Moreover, digitalization in self-care medical devices is also expected to aid in growth of the market. Increasing healthcare expenditure is further propelling the sales of self-care medical devices in the country.

Category-wise Analysis

Why is Demand for Blood Glucose Monitors High in the Market for Self-care Medical Devices?

Blood glucose monitors held dominant position in the global market for self-care medical devices, accounting for 58% share in terms of value, followed by blood pressure monitors and sleep apnea monitors, respectively.

Self-monitoring of blood glucose or SMBG refers to home blood glucose testing for people with diabetes. SMBG uses regular blood testing to understand one’s diabetes condition and helps to control the diet regime.

Self-monitoring of blood glucose levels is very crucial, particularly with regards to people with type 2 diabetes who are not on insulin. Therefore, due to its usage convenience and rising occurrences of diabetes worldwide. Demand for blood glucose monitors has escalated over the past few years.

Interested to Procure The Data

Competitive Landscape

Major players in the market are focused on launching new products to expand their product portfolio. In addition to that, manufacturers of these devices are making relentless efforts to offer portable and easy to use devices.

Portable and user-friendly devices are likely to encourage patients to adopt a more active role in keeping a track of their health. Furthermore, various awareness programs by medical associations are likely to assist in widening the scope of the global self-care medical devices market.

  • In June 2020, AireHealth, a developer of portable nebulizer that pairs with a smartphone app for remote monitoring, acquired BreathResearch, a respiratory health company, in order to develop its digital respiratory health platform.

Self-care Medical Devices Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Countries Covered

  • USA
  • Canada
  • Germany
  • France
  • the UK
  • Russia
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Middle East
  • Latin America

Key Market Segments Covered

  • Product
  • End User
  • Distribution Channel
  • Region

Key Companies Profiled

  • Johnson & Johnson
  • Medtronic
  • Abbott Laboratories
  • Bayer HealthCare
  • Koninklijke Philips
  • General Electric Company
  • F. Hoffmann-La Roche AG
  • ResMed
  • Omron Healthcare
  • Martifarm
  • OraSure Technologies
  • Baxter
  • B. Braun Melsungen
Pricing

Available upon Request

Key Segments Covered in Self-care Medical Devices Industry Research

  • By Product

    • Self-monitoring of Blood Glucose
    • Sleep Apnea Devices
    • Insulin Pumps
    • Body Temperature Monitors
    • Inhalers
    • Pedometers
    • Blood Pressure Monitors
    • Nebulizers
    • Male External Catheters
    • Holter Monitors
  • By End User

    • Self-care Medical Devices for Geriatrics
    • Self-care Medical Devices for Pediatrics
    • Self-care Medical Devices for Adults
    • Self-care Medical Devices for Pregnant Women
  • By Distribution Channel

    • Self-care Medical Devices Sold at Pharmacies
    • Self-care Medical Devices Sold through Online Stores
    • Self-care Medical Devices Sold at Supermarkets and Hypermarkets

- FAQs -

The global self-care medical devices market topped US$ 13 Bn in 2020, and is expected to reach a valuation of over US$ 20 Bn by 2031.

Key factors driving demand for self-care medical devices include increasing product launches and rising need for homecare treatment options.

Major market players include 3M Healthcare, Abbott Laboratories, Bayer AG, GE Healthcare, F. Hoffmann-La Roche, Johnson & Johnson, Medtronic, Inc., Omron Healthcare, and Philips Healthcare.

North America is one of the lucrative markets for self-care medical devices, holding approximately 40% of global market share.

Demand for self-care medical devices in China was estimated at US$ 4 Bn in 2020, and is expected to surge at a CAGR of 9% over the assessment period.

Global demand for blood glucose monitors will account for 58% of the market share for self-care medical devices.

Demand for blood pressure monitors is anticipated to top US$ 3 Bn by 2031.

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

3D Printing Medical Devices Market

3D Printing Medical Devices Market to record a staggering CAGR of 14.4% during the period of 2017-20...

Medical Imaging Phantoms Market

Global Medical Imaging Phantoms Market research report segmented by Product Type (X-ray/Fluoroscopy ...

Kidney Cancer Diagnostics Market

Kidney Cancer Diagnostics Market to grow at a CAGR of 7% with demand for blood chemistry tests for k...

High Concentration Respiratory Masks Market

High Concentration Respiratory Masks Market research report covers detailed information on Global Hi...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.