The ambulatory device market is expected to be valued at USD 15.20 billion in 2027 from USD 5.07 billion in 2019, registering a CAGR of 15.6% through the forecast period, according to a recent report by Emergen Research. Due to the rising preference for outpatient facilities and the avoidance of hospital stays, and the costs associated with it, ambulatory devices are experiencing increased demand. Ambulatory devices have the ability to monitor the levels of blood glucose, blood pressure, body temperature, oxygen saturation, sleep function, heart rate, consciousness level, pain, intake of urine, and breathing rate of a patient.
In order to provide additional advantages of portability, Bluetooth networking, installed tracking system, and portability, ambulatory devices are fitted with such advanced technologies. The devices are mainly used by the elderly population or by persons with a cognitive deficit or musculoskeletal disability. The rising geriatric population and the increase in the incidence of diseases are thus driving consumer demand registered in the market.
Several medical therapies may aid in preventive health care related to chronic and acute illnesses and diseases. Ambulatory equipment can be used at any given location at any time and can help perform minor surgical and medical procedures, such as dermatology and dental procedures. Non-governmental organisations’ funding is promoting the market growth.
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Key Highlights From Report
- In September 2020, the FDA approved the Masimo Rad-G pulse oximeter. The pulse oximeter is a handheld system that combines the pleth respiration rate (RRp) and the pulse oximetry of Masimo’s signal extraction technology (SET) used for spot-checking or continuous monitoring.
- An infusion pump is a medical device that delivers a limited amount of fluids, such as drugs and nutrients, into the body of a patient. Infusion pumps are commonly used in healthcare facilities, such as nursing homes, hospitals, and in the home as well.
- An application for ECG tracking tracks heart electrical activity and displays a moving line of peaks and dips. The electrical current which runs through one’s heart is measured. The market demand is fuelled by the rising incidences of heart disease.
- Hospitals are registering increased demand for outpatient devices as emergency cases are increasing, and hospital workers need portable devices for easy monitoring. During the forecast period, the hospital segment will expand with a significant CAGR.
- North America is expected to dominate the ambulatory device market. The region has a well-developed healthcare sector, and market demand is propelled by the involvement of major market players.
- Key participants 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., and General Electric Company, among others.
For the purpose of this report, Emergen Research has segmented 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
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Delivery
- ECG Monitoring
- Blood Glucose Monitoring
- Blood Pressure Monitoring
- EEG Monitoring
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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