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According to FutureWise analysis, the market for self-care medical devices in 2023 is US$ 22.3 billion, and is expected to reach US$ 42.26 billion by 2031 at a CAGR of 8.30%.
Self-care medical devices are designed for use by individuals without the need for physician assistance. Examples include nasal sprays, throat lozenges, dental implants, and contact lenses. These devices can assist in monitoring daily health metrics such as blood glucose levels, blood pressure, and body temperature.
Currently, a variety of self-care medical devices are available, including smart tracking devices and wearable technology like wristwatches that measure heart rate, daily walking distance, and sleep duration. The main advantages of these devices are that they are cost-effective and help reduce the burden on patients by minimizing hospital visits for minor medical issues.
The growing prevalence of chronic diseases has fueled the expansion of the self-care medical device market. These devices enhance patient compliance and improve management of health conditions. Recent technological advancements have led to the development of smart tracking tools for real-time health monitoring. Furthermore, increased public awareness of self-care medical devices has contributed to market growth. The self-care medical devices market is expected to experience steady single-digit growth during the forecast period.
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Self-Care Medical Devices Market Segmentation:
By Type
By End User
By Region
Competitive Landscape in the Self-Care Medical Devices Market:
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