Driving the growth of Self-Care Medical Devices Market |...

Driving the growth of Self-Care Medical Devices Market

Posted 2023-11-24 12:18:06

The global Self-Care Medical Devices Market is estimated to be valued at US$ 22.3 Bn or Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis: -

· Strength: - Advanced devices with integrated AI and IoT allows for round the clock monitoring and timely diagnosis and treatment.

· Weakness: - Expensive devices limit access for users with low income.

· Opportunity: - Rising geriatric population and increasing prevalence of chronic diseases opens growth avenues.

· Threats: - Stringent regulatory approvals and reimbursement issues pose challenges.

Key Takeaways: -

The Global Self-Care Medical Devices Market Growth is expected to witness high, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of chronic diseases and growing geriatric population prone to various health conditions.

North America dominates the self-care medical devices market currently owing to supportive government initiatives and advanced healthcare infrastructure. Asia Pacific is expected to exhibit fastest growth during the forecast period owing to rising medical tourism, large patient population and improving access to healthcare.

Key players operating in the self-care medical devices are 3M, Abbott, Bayer AG, F. Hoffmann-La Roche Ltd, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Medtronic, OMRON Healthcare, Inc., ResMed, Advin Health Care, Koninklijke Philips N.V., NeuroPace, Inc., Natus Medical Incorporated, and Fisher & Paykel Healthcare Limited.