As per a new report published by Fact.MR – a market research and competitive intelligence provider, the market for self-care medical devices is anticipated to top US$ 20 Bn by 2031, and is poised to expand at a CAGR of 6%. Demand for blood glucose monitors accounts for 58% of overall market share.
Rise in the prevalence of various chronic diseases has led to the growth of the global self-care medical devices market. These devices assist in better patient compliance and improvement in disease management.
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Key Takeaways from Market Study
- Valuation of self-care medical devices was estimated at US$ 13 Bn in 2020, and is expected to top US$ 20 Bn by 2031.
- Key factors driving demand for self-care medical devices include new technological advancements and rising demand for homecare treatments.
- North America holds close to 40% of the market share for self-care medical devices.
- In China, demand for self-care medical devices was estimated at US$ 4 Bn in 2020, and is anticipated to expand at a CAGR of 9% over the coming ten years.
- Demand for blood glucose monitors accounts for 58% of market share for self-care medical devices.
- Global demand for blood pressure monitors is anticipated to reach a valuation of around US$ 3 Bn by 2031-end.
Find More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the self-care medical devices market, presenting historical market data (2016-2020) and forecast statistics for the period of 2022-2031.
The study reveals essential insights on the basis of product (self-monitoring of blood glucose, sleep apnea devices, insulin pumps, body temperature monitors, inhalers, pedometers, blood pressure monitors, nebulizers, male external catheters, and holter monitors), end user (geriatric, pediatrics, adults, and pregnant women), and distribution channel (pharmacies, online stores, and supermarkets & hypermarkets), across major regions of the world (North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa).
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