Increasing prevalence of various chronic and acute disorders, rising availability of advanced ambulatory devices, and rapid adoption of ambulatory devices are expected drive global Ambulatory Device market growth.
Increasing prevalence of various chronic and acute disorders, rising availability of advanced ambulatory devices, and rapid adoption of ambulatory devices are expected drive global Ambulatory Device market growth.
According to Emergen Research, the global ambulatory device market size was USD 5.07 billion in 2019 and is expected to reach USD 15.20 billion in 2027 and register a robust revenue CAGR of 15.6% during the forecast period, 2020-2027.
Market Dynamics:
Ambulatory devices are mobility devices that provide stability, support, and balance to patients for moving from one point to another. These devices are used by patients with neurological deficits, musculoskeletal impairments, and elderly people who have difficulty in mobility in order to be independent or reduce their dependency on caregivers. Ambulatory devices are rapidly gaining traction owing to rising awareness about the benefits of ambulatory devices, and increasing demand for wearable devices. These devices are also used for virtually assisting patients and recording their real-time events such as blood pressure, body temperature, blood sugar levels, oxygen saturation, and pulse rate among others.
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Factors such as rising availability of various ambulatory devices on online platforms, growing preference for remote monitoring and telemedicine, and increasing investments by public and private sectors to develop novel and more advanced devices are expected to drive global market revenue growth during the forecast period.
However, unfavorable reimbursement scenarios and high costs of some advanced devices are some key factors expected to hamper overall market growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Monitoring Devices Segment to Account for Largest Revenue Share:
The monitoring devices segment is expected to account for largest revenue share during the forecast period owing to increasing prevalence of chronic diseases, rising geriatric population, growing preference for remote patient monitoring, and easy availability of various monitoring devices.
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Blood Pressure Monitoring Segment To Register Rapid Revenue CAGR:
The blood pressure monitoring segment is expected to register rapid revenue CAGR over the forecast period owing to rising incidence of various cardiovascular diseases, hypertension, and lifestyle associated disorders, growing awareness about regular health checkups, and rising global geriatric population.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to increasing prevalence of chronic diseases, presence of well-developed healthcare infrastructure, rising geriatric population, and rapid adoption of advanced technologies. In addition, presence of leading companies, growing preference for outpatient services, and increasing investments in developing more advanced tools and devices are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- Baxter International Inc.
- Abbott Laboratories
- BioTelemetry, Inc.
- Becton, Dickinson and Company
- Boston Scientific Corporation
- CamNtech Ltd.
- Cadwell Industries, Inc.
- Compumedics Limited
- Cardiovascular Systems, Inc.
- General Electric Company
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For the purpose of this report, Emergen Research has segmented into the global Ambulatory Device Market on the basis of product, application, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Infusion Systems
- Monitoring Devices
- Records
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Delivery
- ECG Monitoring
- Blood Glucose Monitoring
- Blood Pressure Monitoring
- EEG Monitoring
- Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Ambulatory Surgical Centers
- Other
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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