Self-Care Medical Devices Market - Snapshot
Nonprofessionals make use of self-care medical devices without any intervention of physicians. Self-care devices comprise dental implants, throat lozenges, contact lens for eye, and nasal sprays. These self-care devices are used in the monitoring of body temperatures, blood pressure, nasal sprays, and daily blood glucose levels.
A rise in the prevalence of various chronic diseases has led to the growth of global self-care medical devices market. Self-care medical devices assist in better patient compliance and improvement in the disease management. The recent entry of topnotch technologies has made the invention of a smart tract with real-time health monitoring feature a reality. In addition, rising awareness amongst the common people regarding these devices has further led growth of the global self-care medical devices market in the years to come.
Wearable Technology to Open up New Opportunities for Market Growth in Near Future
Augmented knowledge of one’s condition of health and advantages pertaining to use of medical gadgets like glucose monitors and insulin pumps is further likely to pave way for the success of the global self-care medical devices market over the years of assessment. In addition to that, manufacturers of these devices are making relentless efforts to offer portable and easy to use devices. Portable and user-friendly devices are likely to encourage patients to adopt a more active role in keeping a track of their health. Furthermore, various awareness programs by medical associations are likely to assist in widening the scope of the global self-care medical devices market.
Some of the self-care medical devices are mentioned as below
Advancement in technology has always played a significant role in product innovation and has helped in the introduction of user-friendly devices. Existing trends in the global self-care medical devices market exhibit that wearable technology has made use of gadgets a lot easier on regular basis.
Self-care medical devices are used for measuring and monitoring various vital parameters of a patient. These devices play an important role in monitoring blood sugar level, heart rate, hypertension and other conditions.These devices measure, monitor, display and document physiological information obtained at regular intervals via sensors or other input devices attached to a patient.Increasing emphasis on preventive medicine is expected to widen the market for self-care medical devices. The global self-care medical devices market is estimated to be USD 10.5 billion in 2012 and is expected to reach USD 16.8 billion by 2019, growing at a CAGR of 7.0% from 2013 to 2019. Risingincidence of chronic diseases as well as lifestyle disorders (obesity, diabetes, hypertension and others) coupled with increasing healthcare awareness are driving the demand forself-care medical devices market globally.
Self-care medical devices are further segmented as blood pressure monitors, blood glucose monitors, body temperature monitors, heart rate monitors, sleep apnea monitors and others. Thesedevices are used forprimary care by patients, witnessing a paradigm shift intreatment from hospital to home based healthcare. Manufacturers are coming up with new and innovative digital blood pressure monitoring devices that are portable, easy to use and provide accurate readings instantly. Blood glucose monitors accounted for the largest market share in the year 2012 as compared to other self-care medical devices. Sedentary lifestyle, poor dietary habits coupled with growing geriatric population has resultedin a steady rise in the number of individuals diagnosed with diabetes.In addition, technological advancements and increasing awareness about managing diabetes are the factors accentuating the growth of the market for blood glucose monitors during the forecast period.
North America contributed the largest share, i.e. over 40%, in 2012 of the global self-care medical devices market. The rising incidence of cardiovascular and respiratory diseases isthe major driving factor for the growth of self-care medical devices market in the North American region. Preference for home based healthcare monitoring has led to reduction of frequent visits to clinics and hospitals, consequentlyincreasing the uptake of self-care medical devices.The Asia-Pacific region is expected to witness the fastest growth due to expanding population coupled with sedentary lifestyle and rising stress levels. A high prevalence of diabetes and cardiovascular diseases in middle income nations,as compared to that in high-income nations,has left a largenumber of people undiagnosed and untreated. However, growing awareness among these people has triggered the demand for self-care medical devices and is expected to further grow during the forecast period.
In terms of key players, the global self-care medical devices market is highly fragmented with presence of a large number of players that include Roche, Philips Healthcare, Omron Healthcare, GE Healthcare, Johnson and Johnson, 3M Healthcare, among others.
List of Figures
FIG. 1 Self-Care Devices: Market Segmentation
FIG. 2 Global Self-Care Medical Devices Market, by Segments, 2012 (USD Million)
FIG. 3 Porter’s Five Forces Analysis: Global Self-Care Medical Devices Market
FIG. 4 Market Attractiveness Analysis: Global Self-Care Medical Devices Market, by Geography
FIG. 5 Self-Care Medical Devices: Market Share, by Key Players, 2012 (%)
FIG. 6 Global Blood Glucose Monitors Market, 2011 – 2019 (USD Million)
FIG. 7 Global Blood Glucose Monitors Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 8 Global Blood Pressure Monitors Market, 2011 - 2019 (USD Million)
FIG. 9 Global Blood Pressure Monitors Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 10 Global Body Temperature Monitors Market, 2011 - 2019 (USD Million)
FIG. 11 Global Body Temperature Monitors Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 12 Global Heart Rate Monitors Market, 2011 - 2019 (USD Million)
FIG. 13 Global Heart Rate Monitors Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 14 Global Pregnancy/Fertility Test Kits Market, 2011 - 2019 (USD Million)
FIG. 15 Global Pregnancy/Fertility Test Kits Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 16 Global Sleep Apnea Monitors Market, 2011 - 2019 (USD Million)
FIG. 17 Global Sleep Apnea Monitors Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 18 Global Nebulizers Market, 2011 - 2019 (USD Million)
FIG. 19 Global Nebulizers Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 20 Global Pedometers Market, 2011 - 2019 (USD Million)
FIG. 21 Global Pedometers Market, 2011 - 2019 (No. of Units in Thousands)
FIG. 22 3M Healthcare, Net Sales: 2010 – 2012 (USD Million)
FIG. 23 Abbott Laboratories, Annual Revenue: 2010 – 2012 (USD Million)
FIG. 24 Bayer AG, Annual Sales: 2010 – 2012 (USD Million)
FIG. 25 GE Healthcare, Annual Revenue: 2010 – 2012 (USD Million)
FIG. 26 F. Hoffmann-La Roche, Annual Revenue: 2009 – 2011 (USD Million) (Conversion rate: 1 CHF= 1.03 USD)
FIG. 27 Johnson & Johnson, Annual Revenue: 2010 – 2012 (USD Million)
FIG. 28 Medtronic, Inc., Annual Revenue: 2010 – 2012 (USD million)
FIG. 29 Omron Healthcare, Inc.,Annual Revenue: 2010 – 2012 (1 USD = ¥94) (USD Million)
FIG. 30 Philips Healthcare,Annual Revenue: 2010 – 2012 (1 USD = 0.75 Euros) (USD Billion)
FIG. 31 ResMed, Inc., Annual Revenue: 2010 – 2012 (USD Million)