What are the Key Opportunities on Offer for Self-care Medical Device Manufactures Exclusive Study – PharmiWeb.com

As per latest Fact.MR analysis, by 2031, the global market for self-care medical devices is expected to be worth $3 billion. The market is expected to grow at a robust CAGR of over 8% between 2021 and 2031, thanks to rising demand for self-care medical devices.

The rising prevalence of lifestyle diseases, digitalization in self-care medical devices, rising elderly population, and rising healthcare awareness are all factors contributing to the rapid expansion of the self-care medicalequipment market.

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Due to the hectic lifestyle, there is a growing desire for self-care and home-based therapies, which is positively impacting the growth of the self-care medical devices market. Furthermore, rising healthcare costs are likely to provide profitable growth prospects for industry participants.

According to the World Health Organization (WHO), 17.9 million people worldwide die each year as a result of cardiovascular diseases (CVDs). Patients seeking accessible solutions to monitor and manage important indicators such as blood sugar levels, blood pressures, and heart rate will see demand climb as the number of cases of cardiovascular and other chronic diseases rises around the world.

Various government and healthcare-related programs aimed at educating people about the causes and treatments of chronic diseases, as well as the benefits of adopting self-care medical devices, will help the market develop even faster throughout the projected period.

Peoples attention has turned to their physical well-being as healthcare awareness has grown and disposable income has increased. The market for self-care medical devices is predicted to grow as the emphasis on preventative medicine grows.

According to the survey,blood glucose monitorsare the market leader in self-care medical equipment, accounting for roughly 58% of the markets value. This is due to the increasing prevalence of diabetes around the world.

With over 40% of the global market for self-care medical equipment, North America is the industry leader. The rising frequency of cardiovascular and respiratory disorders in the region is driving demand for self-care medical devices.

The integration of digital technology in self-care medical devices has completely revolutionized the market. Manufacturers are using various technologies such as IoT to develop smart medical devices such as wearable blood and sugar measuring watches. Thanks to the development of user-friendly digital self-care medical devices, even a layman can now easily use them, which was otherwise a puzzle for him or her once,said a lead analyst at Fact.MR.

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Key Takeaways from Self-care Medical Devices Market Survey

Key Drivers

Key Restraints

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Key Segments Covered in Self-care Medical Devices Industry Research

By Product

By End User

By Distribution Channel

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Key Questions Covered in the Self-care Medical Devices Sales Outlook Report

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