Developing countries such as India and China are fueling the growth of the medical sector
According to a new report titled "Wireless Portable Medical Device Market by Technology (BT/BLE, Wi-Fi, ZigBee, ANT+), Component (Sensors, ICs, Processors), Application (Monitoring, Medical Therapeutics, Diagnosis, Fitness and Wellness), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the total Wireless Portable Medical Device Market is expected to grow from $1.5 Billion in 2013 to $2.83 Billion in 2020, growing at an estimated CAGR of 9.51 percent from 2014 to 2020.
With a gradual increase in urbanization and healthcare facilities, the need for wireless portable medical devices is also expected to grow proportionately to be able to support this growth. Developing countries such as India and China are fueling the growth of the medical sector; hence, the wireless portable medical devices market is boosting the overall healthcare sector.
The Wireless Portable Medical Device Market is expected to benefit from emerging market investments that are lifting the standards of healthcare, while the developed market is expected to continue investing in more efficient medical electronic devices, systems and procedures, which offer better and personalised healthcare. An increase in lifestyle diseases continuously pushes patients for medical monitoring to get their health status to avoid any health related contingencies; medical devices such as cardiac monitors and hemodynamic monitors are continuously gaining market share in the wireless portable medical device applications.
The market size for the Wireless Portable Medical Device Market covers four geographic splits, namely North America, Europe, Asia-Pacific, and Rest of the World (RoW).