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Rising Disposable Income and Improving Living Standards to Boost Adoption of Home Care Monitoring and Diagnostics Devices

Press Release   •   Jan 25, 2017 05:07 EST

MarketResearchReports.Biz presents this most up-to-date research on “ Global Home-care Monitoring and Diagnostics Market 2016-2020 "

The report, titled “Global Home-Care Monitoring and Diagnostics Market 2016-2020” serves as an essential source of analysis and information regarding various critical parameters of the global home-care monitoring and diagnostics market including its dynamics, products, geographical segmentation, and competitive landscape.

The market is primarily driven by the rising consumer expenditure on healthcare along with the improving living standards. As per the findings of the report, the global home-care monitoring and diagnostics market is anticipated to exhibit a CAGR of close to 9% from 2016 to 2020. The rising disposable income is leading to the increasing adoption of self-care medical devices. Moreover, the growing prevalence of chronic diseases and rapidly aging population are providing a significant boost to the growth of the market. Furthermore, the integration of smartphones and other mobile devices with home healthcare systems is creating ample growth opportunities for the market.

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On the basis of product, the global home-care monitoring and diagnostics market is segmented into blood pressure and heart rate monitors, self-monitoring blood glucose (SMBG) devices, pedometers, temperature monitors, pulse oximeters, sleep apnea monitors, and pregnancy test kits. SMBG devices will be the dominant segment throughout the forecast period. The increasing incidence of diabetes is the cardinal factor driving the growth of the region. The growing emphasis on the development of innovative and advanced SMBG devices that are accurate, portable, safe, and operate with low power consumption is providing a fillip to the growth of the segment.

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Geographically, the market is divided into the Americas, Asia Pacific, and Europe, Middle East, and Africa (EMEA). The Americas will continue to be the leading revenue contributor until 2020. The rising prevalence of chronic diseases such as chronic kidney diseases (CKDs), ERSD, diabetes, cardiovascular diseases, and obesity is prompting individuals to undergo regular tests and check-ups, thereby driving the demand for home-care monitoring and diagnostics devices in the region. The domicile of a large number of prominent players is also bolstering the growth of the region.

The strong foothold of large international players in the global home-care monitoring and diagnostics market is making it difficult for regional vendors to contend with them, especially in terms of technology and quality. Key players are increasingly merging with or acquiring smaller players in order to consolidate their position in this highly competitive marketplace. The leading players in the market are Johnson & Johnson, Abbott Diagnostics, Philips Healthcare, Roche Diagnostics, Medtronic, and Omron Healthcare.

Other prominent players in the global home-care monitoring and diagnostics market are Bioptik Technology, Animas, Fitbit, Chongqing Haray International Business, GlySens, Gluco-Ease, Jawbone, Grove Instruments, Nike, and QRS Diagnostic. The competition is expected to intensify as these players are focusing towards the development of innovative and advanced devices in order to expand their product portfolio.