Asia Pacific Wearable Medical Device, By Type (Diagnostic & Monitoring, Vital Sign Monitoring And Therapeutic Devices) By Application (Fitness, Blood Pressure Monitoring, Heart Rate Monitoring, Weight Monitoring) By End Users (Sports Person, Patients) – Forecast To 2023
Wearable medical devices are gaining traction owing to their aesthetic value in conjunction with health monitoring features. The economic development of the region is supporting the expansion of the market in the region by increasing purchasing power.
According to Market Research Future (MRFR)’s forecast, the Asia Pacific wearable medical device market is set to thrive at a healthy CAGR of 15.94% during the forecast period 2017 to 2023. The exponential growth of the middle-income population being observed in Asia Pacific is facilitating the expansion of the market. It is poised to signify a similar growth pattern over the next couple of years.
The focus is on the development of wearable medical devices that performs maximum functions such as monitoring of blood pressure, heart rate, sleeping habits, etc. The rising burden of diseases such as obesity, heart ailments, diabetes, etc. is being considered for bringing innovations in wearable technology. People are getting increasingly aware of the adverse effects of these diseases and are shifting towards a healthier lifestyle. This, in turn, is projected to fuel demand for personal health monitoring devices and augment the Asia Pacific wearable medical device market in the years to come.
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The ongoing trend of connecting wearable devices with smartphones has revolutionized the growth pattern of the market. It is expected to gain more popularity across the review period owing to the rising disposable income witnessed in the region. However, the high cost of the technology is expected to restrict the growth of the Asia Pacific wearable medical device market over the assessment period.
In April 2019, Fitbit, Inc., an American company, has announced the launch of Versa Lite Edition, Inspire HR, Fitbit Inspire and Fitbit Ace 2 in India.
In April 2019, Garmin Ltd., an American multinational technology company, has announced the launch of the new model of its Vivosmart series activity tracker, Vivosmart 4, with “advanced” sleep monitoring features and a body battery, and pulse ox.
In August 2018, a leading name in fitness wearables, Fitbit, Inc., has launched its most advanced tracker – Charge 3 with OLED display and heart rate sensor in India.
Many global leaders have identified the potential of the market in Asia Pacific and are capitalizing on the developmental opportunities present in the region. Some of the key players operating in the Asia Pacific wearable medical device market are Baxter (U.S.), Abbott (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific (U.S.), Becton Dickinson Company (U.S.), Cardinal Health (U.S.), Johnson & Johnson (U.S.), General Electric Company (U.S.), Medtronic (U.S.), Siemens (U.S.), Koninklijke Philips N.V. (Netherland), and Stryker (U.S.).
By type, the Asia Pacific wearable medical device market has been segmented into diagnostic, vital sign monitoring, and therapeutic devices.
On the basis of application, the Asia Pacific wearable medical device market has been segmented into blood pressure monitoring devices, fitness devices, weight monitoring devices, heart rate monitoring devices, and others.
The Asia Pacific wearable medical device market, by end-users, has been segmented into sports person, patients, and others.
The Asia Pacific wearable medical device market, for geographical study, has been segmented into India, Japan, China, Republic of Korea, Australia, and Rest of Asia Pacific. China is the largest country-level market for wearable medical devices in the Asia Pacific. The region is also likely to witness a drastic increase in the manufacturing capacity of wearable devices.
China houses a massive fraction of the consumers who are motivated by the awareness about the rising incidences of lifestyle diseases such as obesity, diabetes, etc. In addition, India is also catching up with China and signifies tremendous developmental opportunities. It is anticipated to secure the second spot in the Asia Pacific wearable medical device market through the forecast period.
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- Wearable Medical Device Manufacturers
- Wearable Medical Device Suppliers & Distributers
- Device Parts Manufacturers
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Academic Medical Institutes and Universities
Table Of Content
- Report Prologue
- Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5.Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
6.Asia Pacific Wearable Medical Device Market, By Type
6.2.1 Market Estimates & Forecast, 2017-2023
6.3 Vital Sign Monitoring
6.3.1 Market Estimates & Forecast, 2017-2023
6.4 Therapeutic Devices
6.4.1 Market Estimates & Forecast, 2017-2023
7.Asia Pacific Wearable Medical Device Market, By Application
7.2.1 Market Estimates & Forecast, 2017-2023
7.3 Blood Pressure Monitoring
7.3.1 Market Estimates & Forecast, 2017-2023
7.4 Heart Rate Monitoring
7.4.1 Market Estimates & Forecast, 2017-2023
7.5 Weight Monitoring
7.5.1 Market Estimates & Forecast, 2017-2023
8.Asia Pacific Wearable Medical Device Market, By End User
8.2 Sports Person
8.2.1 Market Estimates & Forecast, 2017-2023
8.3.1 Market Estimates & Forecast, 2017-2023
9.Asia Pacific Wearable Medical Device Market, By Region
9.2 Asia Pacific
9.2.5 Republic Of Korea
9.2.6 Rest Of Asia Pacific
10 Company Landscape
10.2 Market Share Analysis
10.3 Key Development & Strategies
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The digital diabetes management provide a platform that simplify the tracking of diabetes data. It helps Type 1 and Type 2 diabetes patients to manage blood test results from a glucose meter, records of actual insulin delivery, statistical evaluation.
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