The Asia-Pacific Wearable Medical Devices Market is bound to reach USD 2.23 billion by 2021 with a healthy CAGR of 25% from USD 0.73 billion in 2016 showing evident potential in the forecast period.
“Asia-Pacific Wearable Medical Devices Market" research report, published by Market Data Forecast estimates that the market is growing with a CAGR of 25% to reach USD 2.26 billion by 2021, from USD 0.76 billion in 2016, which amounts to a cumulative growth of USD 1.5 billion.
Wearable medical devices monitor several bodily conditions like glucose levels, insulin levels, blood pressure, heart conditions, pain relief, ingestion, brain activity, hydration, temperature, sleep. Lately, Google is working on a wrist-worn medical device, which would have sensors to produce an ECG, assessing the patterns and strength of the person’s heartbeat.
Moreover, it checks the skin and pulse temperature.
Wearable medical devices feature wireless data transmission, real time feedback, alerting mechanism and have easy and timely sensing abilities. The data generated by wearable medical devices is further analysed and is used by customers for a better health management.
The market continues to gain momentum with the rapid increase in adoption of these devices among patients and also the launch of technologically advanced, user friendly devices into the market.
The report also presents detailed analysis of multitude of factors affecting Asia-Pacific Wearable Medical Devices Market bearing either positive or negative outcomes. Some of those factors are
- number of on-going developments and innovations in the healthcare and electronics sector,
- Rise in healthcare spending by both governments and individuals,
- The ease of use of medical devices combining with the aforementioned rise in incidences of chronic diseases
- Allocating cost effective monitoring to patients suffering from chronic disease such as Cancer and other blood diseases.
- Lack of awareness is also another cause leading to slower adoption of technology.
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For granular level understanding the Asia-Pacific Wearable Medical Devices Market is segmented based on type, and application each being provided with Market Size Estimations and Y-o-Y Forecasts. The Asia-Pacific Wearable medical devices market is categorized by type into Monitoring & Diagnostic Wearable Device Market (Electro Cardiographs, Sleep Monitoring devices, Heart Rate Monitors, Blood Pressure Monitors, Activity Monitors and Electro Encephalographs) and Therapeutic Wearable Device Market (Wearable Pain Management Devices, Glucose/Insulin Monitoring Devices, and Wearable Respiratory Therapy Devices).
Further, by Application, the market is segmented into Sports and Fitness, Home Healthcare and Patient Monitoring. The remote patient monitoring market accounted for the highest revenue in 2015 while the sports and fitness market is expected to grow at the fastest rate.
Based on geography, the Asia-Pacific market is segmented into regions namely, China, India, Japan and South Korea. Asia Pacific wearable medical devices market is expected to have a highest growth rate within the forecast period.
China and India are projected to be the fastest growing markets in this region.
Some of the major companies dominating the market, by their products and services include Fit bit, Garmin, Jawbone, Polar Electro, Vital connect, Withings SAS, Zephyr Corporation, Basis Science, Omron Corporation, Drager, Lifewatch AG, Sotera Wireless, Abbott Laboratories and Nuubo.
The Asia-Pacific Wearable Medical Devices Market report offers wide-range of scope:
- Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries
- Know more about key areas of industry growth via detailed Segment-level analysis on basis of type, and application long with market size forecasts and y-o-y estimations
- Detailed explanation of major drivers, restraints, opportunities, and challenges(DROC) that affect the market and impact the ever-shifting market dynamics
- Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
- Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Market Outlook - Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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