The wireless portable medical devices market is set to grow at an 11% CAGR through 2031, driven by advanced wearables and real-time monitoring.
As per a new report published by Fact.MR – a market research and competitive intelligence provider, the global wireless portable medical devices market was valued at US$ 15 Bn in 2020, and is projected to top US$ 33 Bn by 2031, expanding at a CAGR of 11%.
Fact.MR anticipates significant surge in demand for wireless portable medical devices attributable to factors such as increasing adoption of technologically advanced wearables and image-guided therapy systems, coupled with the ongoing trend of accurate and real-time monitoring.
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Rising geriatric population, changing lifestyle, unhealthy eating habits, and environmental factors increase the burden of diseases. Rising need for monitoring the physical activities of individuals for early diagnosis or prevention of diseases is expected to drive demand for wireless portable medical devices.
Key Takeaways from Market Study
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Key Market Segments Covered in Wireless Portable Medical Devices Industry Research
By Product
By Application
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Winning Strategy
Most major companies are adopting key strategies such as collaborations, mergers, and acquisitions to develop novel products and innovative solutions to expand their global presence. Major players are also focusing on strategic partnerships and acquisitions to consolidate their market position.
New and upcoming companies will be benefitted by investing in R&D projects involved in product innovation. Directing investments towards technological advancements and new attractive product launches will prove to be favourable in the long run.
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The post Demand for Wireless Portable Medical Devices Market to Rise at a CAGR of 11% Through 2031 appeared first on Latest Market Reports.
The article discusses the growth of the wireless portable medical devices market, projected to expand significantly by 2031.
Growth is driven by advanced wearable technology and the need for real-time health monitoring.
North America holds the largest market share, with significant growth expected in Asia Pacific.
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