Growing advancement in the field of medical device such as smart wearable’s and image-guided therapy systems is predominantly fueling the market growth of the portable diagnostic device. For instance, in January 2019, Royal Philips announced Azurion with FlexArm, to set a new standard for patient imaging and positioning flexibility for image-guided procedures. Rising awareness regarding the advantage of portable medical devices is again anticipated to foster market growth. Increasing manufacturer's focus on the development of compact, wireless, and user-friendly is again projected to foster the market growth of the portable diagnostic device. Growing advancement in the field of embedded systems, sensors, and electronics is contributing to market growth over the forecast period. Also, the growing geriatric population is increasing the prevalence of chronic diseases such as diabetes and cancer which is again driving demand for portable diagnostic devices.
From the geographical point of view, North America is expected to exhibit significant growth over the forecast period and this is attributed to continuous approval of the innovative products by the U.S. Food and Drug Administration (FDA) in the region. For instance, in September 2019, Little Sparrows Technologies, a neonatal medical device startup committed to promoting the well-being of newborns, announced it has received 510(k) clearance from the Food and Drug Administration (FDA) for the bili-hut™. The bili-hut is an innovative ultraportable neonatal phototherapy system that leverages a bassinet-like design to treat hyperbilirubinemia, commonly known as neonatal jaundice.
Key Developments:
In April 2020, Mindray Medical a global provider of medical devices and solutions, announces the launch of the new portable ultrasound systems, ME series to enhance clinical confidence during critical and emergency COVID-19 cases. They are now available in Europe and other selected countries.
In March 2020, Royal Philips a global health technology provider announced that it has increased the production of certain critical care products and solutions to help diagnose and treat patients with the new coronavirus disease (COVID-19).
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