Australia Portable Medical Devices Market Size & Outlook
Australia portable medical devices market, 2018-2030 (US$M)
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Australia portable medical devices market highlights
- The Australia portable medical devices market generated a revenue of USD 858.2 million in 2023 and is expected to reach USD 1,835.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 11.5% from 2024 to 2030.
- In terms of segment, monitoring devices was the largest revenue generating product in 2023.
- Smart Wearable Medical Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Portable medical devices market data book summary
| Market revenue in 2023 | USD 858.2 million |
| Market revenue in 2030 | USD 1,835.2 million |
| Growth rate | 11.5% (CAGR from 2023 to 2030) |
| Largest segment | Monitoring devices |
| Fastest growing segment | Smart Wearable Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Wearable Medical Devices, Diagnostic Imaging, Therapeutics, Monitoring Devices |
| Key market players worldwide | GE Aerospace, OMRON Corp, Vyaire Medical, Samsung BioLogics, Koninklijke Philips NV, Medtronic PLC, Roche Holding AG, Nox Medical |
Other key industry trends
- In terms of revenue, Australia accounted for 1.2% of the global portable medical devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China portable medical devices market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 10,354.9 million by 2030.
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Portable Medical Devices Market Scope
Portable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia portable medical devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to portable medical devices market will help companies and investors design strategic landscapes.
Monitoring devices was the largest segment with a revenue share of 47.84% in 2023. Horizon Databook has segmented the Australia portable medical devices market based on smart wearable medical devices, diagnostic imaging, therapeutics, monitoring devices covering the revenue growth of each sub-segment from 2018 to 2030.
The market for portable medical devices in Australia is growing at a considerable rate. This can be attributed to improvements in cutting-edge technology, a larger patient base, and weak regulatory standards. The prevalence of chronic diseases and rapidly aging population are two additional important factors driving the market expansion.
According to the Australian Institutes of Health and Welfare 2020 report, between 400,000 and 459,000 Australians are anticipated to have dementia in 2020, with Alzheimer's disease accounting for up to 70% of verified cases. Alzheimer's disease is the type of dementia that is most common in Australia. As a result, it is estimated that the market will experience increased demand for monitoring systems during the forecast period.
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Our clientele includes a mix of portable medical devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia portable medical devices market, including forecasts for subscribers. This country databook contains high-level insights into Australia portable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia portable medical devices market size, by product, 2018-2030 (US$M)
Australia Portable Medical Devices Market Share, 2023 & 2030 (US$M)
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