Self-Care Medical Devices Market

Self-Care Medical Devices Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast upto 2019 The global self-care medical devices market is expanding at a CAGR of 7% within a forecast period from 2013 to 2019. This market was recorded at US$10.5 bn in 2012 and will stand at US$16.8 bn at the end of 2019. These are the findings of a research report published by leading market intelligence agency, Transparency Market Research.

The report, titled “Self-Care Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast (Value and Volume),2013 - 2019,� includes all factors, micro and macro, that are responsible for the shaping of the market.

Self-care medical devices are those devices that have a physical mode of action to treat and prevent medical conditions such as hypertension, diabetes, obstructive sleep apnea and others. Healthcare is moving towards a precision based model of personal care.

Self-care medical devices play a major role in providing personal care that ultimately helps the patients or individuals to manage episodic acute conditions and chronic illnesses. It is a primary form of care for various chronic diseases namely cardiovascular, blood pressure, diabetes and others. It is referred to as an action that contributes in maintaining personal health with the use of various self-monitoring devices.

Rising emphasis on preventive medicine is expected to widen the market for self-care medical devices. These self-monitoring devices measure, monitor, display and document psychological information obtained at regular intervals from patient.

Browse Full Research Report on Self-Care Medical Devices Market: http://www.transparencymarketresearch.com/self-care-medicaldevices.html The potential to reduce healthcare complications is expected to create significant demand for self-care monitoring devices such as heart rate monitors, blood glucose monitors, blood pressure monitors, sleep apnea monitors and nebulizers. Transparency Market Research, a leading U.S. based market research firm analyzes the global market for self-care medical devices and estimates a CAGR of 7.0% for the period 2013 to 2019.

Cardiovascular conditions, rising blood glucose levels and blood pressure levels require continuous monitoring that ultimately propels the demand for self-care medical devices. These diseases require regular monitoring and visits to healthcare centers that inflate medical expenses.

Thus, self-care medical devices are seeing fast adoption by consumers, to measure parameters on a regular basis and also cut down medical costs and save time.

Self-care medical devices mainly includeblood pressure monitors, blood glucose monitors, sleep apnea monitors, body temperature monitors, pregnancy/fertility test kits, heart rate monitors, nebulizers and pedometers. These are used as primary care devices by patients, that

enables a shift of treatment from hospital to home based healthcare.

Factors such as increase in incidence rate of chronic diseases, rise in obese population, diabetes and hypertension are also accentuating the growth of self-care medical devices market.

In addition, the need to provide high quality devices at lower rate is the latest trend observed in the area of self-monitoring and diagnostics. The demand for self-care medical devices is increasing with more number of patients preferring to monitor specific diseases at home.

Rapid advancements in self-care medical devices, namely, nebulizers, blood pressure monitors, heart rate meters and blood glucose monitors are contributing to the growth of this market. Also, remote communication technology that allows healthcare professionals to support the use of self-care devices is further increasing the uptake of self-care medical devices.

Though the market is estimated to have a bright potential, it is likely to be shadowed by a few restraints. The increasing production of biosimilars that are also used for treating various chronic conditions and autoimmune diseases are expected to eat into the market share of monoclonal antibody therapeutics market.

Furthermore, the patent cliff of several products is also likely to have a negative impact on the overall earnings of the global market. The market

is also anticipated to face a tough challenge due to the high cost of monoclonal antibodies as their production is exceptionally timeconsuming and demands strict adherence to rules and regulations.

Some of the leading players operating in the demanding global market are Bayer AG, Pfizer Inc., Sanofi, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., GlaxoSmithKline Plc., Novartis AG, and AbbVie Inc. This review is based on Transparency Market Research’s report, titled “Monoclonal Antibody Therapeutics Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast, 2016 - 2024.”

Browse Full Press Release on Self-Care Medical Devices Market: Press Release

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