Wilmington, Delaware, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Global Self-Care Medical Devices Market size is valued at US$ 19.5 billion in 2023 and is predicted to rise at a substantial CAGR of 6.7% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
The self-care medical devices market is influenced by various drivers that contribute to its growth and expansion. The growing awareness among individuals about the importance of self-care and preventive healthcare has led to a higher demand for self-care medical devices.
In addition, the geriatric population finds it difficult to commute to the hospital and get regular healthcare checkups done. The self-care medical device market is anticipated to grow due to such reasons in the forthcoming years.
Further, the aging population is more prone to chronic illnesses and health conditions. As the global population continues to age, there is a greater need for self-care medical devices to monitor and manage various health issues such as diabetes, hypertension, and cardiovascular diseases.
- According to a deep-dive market assessment by RationalStat, the self-care medical devices market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the self-care medical devices market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the self-care medical devices market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Self-Care Medical Devices Market: Segmental and Market Share Analysis
- On the basis of the type, the blood pressure monitor segment is anticipated to capture the major market share due to the rising prevalence of stress, and anxiety among the younger as well as the adult population.
- Based on the application, adults are anticipated to cover a significant market share as the geriatric population is more prone to blood pressure and blood glucose related issues.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 19.5 billion |
| Market Size Forecast | US$ 30.8 billion |
| Growth Rate | 6.7% |
| Dominant Segment | Blood Pressure Monitors |
| Leading Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the self-care medical devices market include,
- In February 2022, InBody introduced the new BP 170 automatic blood pressure monitor, which provides individuals with the option to self-record and track key health metrics at home.
- In May 2021, CardieX launched a new subsidiary called Conneqt was devoted to developing blood pressure monitoring devices for at-home and on-the-go use.
Some of the prominent players and suppliers operating and contributing significantly to the self-care medical devices market growth include Medtronic plc., Koninklijke Philips N.V., Bayer HealthCare LLC, General Electric Company, Hoffmann-La Roche AG, Johnson & Johnson, ResMed, Inc, Omron Healthcare, Inc., OraSure Technologies Inc., and Abbott Inc., among others.
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RationalStat has segmented the self-care medical devices market based on type, application, and region
- Global Self-Care Medical Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Blood Glucose Monitors
- Blood Pressure Monitors
- Body Temperature Monitors
- Nebulizers
- Pedometers
- Pregnancy/Fertility Test Kits
- Others
- Global Self-Care Medical Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Geriatric
- Paediatrics
- Adults
- Pregnant Women
- Global Self-Care Medical Devices Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Self-Care Medical Devices Market
- US
- Canada
- Latin America Self-Care Medical Devices Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Self-Care Medical Devices Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Self-Care Medical Devices Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Self-Care Medical Devices Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Self-Care Medical Devices Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Self-Care Medical Devices Market
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Key Questions Answered in the Self-Care Medical Devices Report:
- What will be the market value of the self-care medical devices market by 2030?
- What is the market size of the self-care medical devices market?
- What are the market drivers of the self-care medical devices market?
- What are the key trends in the self-care medical devices market?
- Which is the leading region in the self-care medical devices market?
- What are the major companies operating in the self-care medical devices market?
- What are the market shares by key segments in the self-care medical devices market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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