Global Portable Diagnostic Device Market - Global Industry Insights 2024

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Global Portable Diagnostic Device Market – Global
Industry Insights, Trends and Opportunity Analysis,
2016-2024
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Report Description
Portable diagnostic devices allow the ease of diagnostic tests and encourage homecare settings
Information and communication technologies (ICT) are widely used in healthcare industry and have led to
significant advancements in ICT based medical devices. Such developments will significantly reduce the
office visits in the near future. Portable medical diagnostic devices enable the user to perform di agnosis
at home, clinic or any remote area including a suggestion for medication and recommendation to see a
doctor thereby reducing potential health risk. These devices are much cheaper than conventional
diagnostic equipment used by physicians, thus reducing the cost of high-level healthcare and are much
more accessible. Portable medical diagnostic devices are primarily used to transfer medical data from
patients to healthcare professional in real time which could eventually reduce the spread of pandemic
disease.
Rising need for early diagnosis is expected to drive the market
Need for medical diagnostic devices in remote or developing areas, where professional and expensive
equipment are difficult to access, is primarily increasing the adoption of portable diagnostic device.
Further, ease of access with commercial tablets & smartphones combined with provision of immediate
results for laboratory analysis is also driving the global portable diagnostic devices market. Increasing
private venture funding towards the development of new products and government support towards
adoption of point of care device is also contributing towards growth in revenue generation in the global
portable diagnostic device market.
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Portable diagnostic devices are primarily being adopted by healthcare professionals to personally
administer the test to patients for epidemic diseases such as Hepatitis C. Higher efficiency and advantage
of immediate results combined with ability to make timely decisions are some of the most appealing
features increasing the adoption of portable diagnostic device.
Several challenges such as reducing discharge time for mobile equipment and data security were
encountered in the global portable diagnostic device market. These challenges are constraining the
growth of the market as most of the devices are not optimized with proper data security and safekeeping
which leads to potential HIPAA violations. Also, establishing ‘Bring your own device’ (BYOD) is crucial to
ensure patient safety.
Portable diagnostic products commonly include glucose monitoring devices, blood pressure
monitoring devices, bone densitometer, wireless devices (Fibits)
The global portable diagnostic devices can be segmented on the basis of product type, end-user and
mode of prescription. On the basis of product type global portable diagnostic device can be segmented
into glucose monitoring device, infectious disease monitoring, cardio metabolic monitoring, coagulation
monitoring, hematology testing, urine analysis device, cholesterol monitoring device, drug abuse
monitoring device, pregnancy & fertility monitoring, occult monitoring, tumor/ cancer monitoring and
others. Based on end-user, global portable diagnostic device can be segmented into home care settings,
hospitals, clinics, ambulatory & surgical center, diagnostic center and others. On the basis of mode of
prescription, the global portable diagnostic device market can be segmented into over the counter and
prescription based.
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Globally, the demand for portable diagnostic devices is high
Based on region, the global portable medical device market is segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa. Europe is expected to dominate market of portable
diagnostic device market due to increasing market penetration of diagnostic medical devices, and growing
emphasis on minimally invasive procedures. Followed by Europe, North America is expected to gain
significant market share due to presence of sophisticated healthcare infrastructure, increasing awareness
of healthcare professionals and patients. The Asia Pacific is the fastest growing region for portable
diagnostic device market due to improving healthcare facility and increasing prevalence of diseases such
as HIV, tuberculosis and malaria among the target population. Moreover, with increasing health
awareness and increasing focus on prevention, the growing trend of self-diagnosis will propel the demand
for portable diagnostic devices in this region.
Some of the major players of the market include PixCell, PT. RAFA Topaz Utama, Siemens AG, Roche
Products Limited, Alere, Inc., Instrumentation Laboratory, PTS Diagnostics and Beckman Coulter, Inc.
Major players are constantly working towards reducing size of the equipment and integrating extensive
database to increase the feasibly of equipment. Entry of innovative products such as point-of-care (POC)
troponin test by Roche in 2015, which was aimed at introducing a new portable test for identifying
suspected heart attack patients for faster diagnosis is such as example of it.
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Some of the major players of the market include PixCell, PT. RAFA Topaz Utama, Siemens AG, Roche Products Limited, Alere, Inc., Instrumentation Laboratory, PTS Diagnostics and Beckman Coulter, Inc. Major players are constantly working towards reducing size of the equipment and integrating extensive database to increase the feasibly of equipment. Entry of innovative products such as point-of-care (POC) troponin test by Roche in 2015, which was aimed at introducing a new portable test for identifying suspected heart attack patients for faster diagnosis is such as example of it.