Asia Pacific Wearable Medical Devices Market – Industry Analysis and Forecast (2022-2027)

Asia Pacific Wearable Medical Devices Market value is projected to reach US$ 7.56 Bn at the end of the forecast period and it is expected to grow at the CAGR of 15.90%.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.



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Wearable medical devices have seen one of the fastest growths in the Asia Pacific (APAC) along with accounting for one of the largest shares in the  market for medical wearable devices. It is observed that around 89% of smart wearable products are in general wrist-worn and comprise of smartwatches that are used for monitoring heart rate, activity, ambient temperature and sleep quality among others. Rests of the products being made are for ears, eyes or clothing.

Activity monitors have been one of the largest segment for Asia Pacific wearable devices market. One of the biggest reasons behind the development of wearable medical devices has been the shift from hospital to home care. Previously timely diagnosis of diseases along with the availability of continuous monitoring system was hardly available. Not only was this a problem for patients but of the doctors as well. Application of smart wearable devices in the healthcare sector has been a major breakthrough with more people investing their money to get data related to their health without paying the visit to any doctor. Activity monitors give details about patients with the help of connected devices that also stores information that can be accessed at the time of need. The basic shift of patients has been for personalized healthcare. The lab-based tests or fixed medical systems for monitoring and diagnosing patients have improvised to lightweight and point-of-care (POC) medical devices. It is then that the application of wearables for patients has taken place for a more personalized experience.

Based on distribution channel segment for wearable medical devices market in the Asia Pacific, it is the pharmacies that held one of the largest market shares. People get a more real experience when it comes to purchasing smart wearable devices in pharmacies with people to question in case of doubts. This has been one of the classic examples of believing in what you touch and feel without depending on only what you see. The online channel has seen immense growth in the Asia Pacific and can be further deemed to be one of the fastest growths in the next few years as well. Price sensitivity, cost efficiency along with competitive pricing has been three important reasons that have led to the higher application of smart devices in the APAC region and has further boosted the advent of online purchases.

Applications covered in this reports are sports and fitness, remote patient monitoring and home healthcare. Sports & fitness have been one of the major segments whereas home healthcare has accounted for the fastest growth. Home healthcare has formed one of the key applications for wearables further being fuelled by the development of technology that is more accurate and reliable. It helps in monitoring body conditions along with collecting data wirelessly further identifying disease symptoms as well.

Based on geography, Asia Pacific wearable medical devices market has been segmented into different countries where China, Japan, and India have been two major contributors. It is to be noted that APAC has seen one of the fastest growth when it comes to technological advancement. Sensors play a major role in these medical wearable devices for which APAC holds one of the largest market shares . Easier access to raw materials along with manufacturing of cost-efficient smart wearable devices has been a few key drivers for the high demand of wearable medical devices in the Asia Pacific.
Asia Pacific Wearable Medical Devices Market, Key Highlights:
• Asia Pacific Wearable Medical Devices market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Asia Pacific Wearable Medical Devices market
• Wearable Medical Devices market segmentation on the basis of type, device type, distribution channel, application and geography (regional)
• Wearable Medical Devices market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of a study
• Wearable Medical Devices market analysis and forecast for countries in the APAC region.
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in the Wearable Medical Devices market including competitive developments, investments, and strategic expansion
Asia Pacific Wearable Medical Devices Market, Research Methodology:
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the market value for Asia Pacific Wearable Medical Devices Market.
Asia Pacific Wearable Medical Devices Market Scope: Inquire before buying



 Asia Pacific Wearable Medical Devices Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 3.12 Bn.


Forecast Period 2022 to 2027 CAGR:
15.90%
Market Size in 2027:
US $ 7.56 Bn.


 Segments Covered:
by Type
• Activity Monitor
• Smartwatches
• Smart Clothing
• Patches


by Distribution Channel
• Pharmacies
• Online Channel
• Hypermarkets


by Device Type
• Diagnostic & Monitoring Devices
• Vital Sign
• Glucose
• Sleep
• Fetal Monitoring & Obstetric
• Neuromonitoring
• Therapeutic Devices
• Pain Management
• Rehabilitation
• Respiratory Therapy
• Insulin


by Application
• Sports & Fitness
• Remote Patient Monitoring
• Home Healthcare



Asia Pacific Wearable Medical Devices Market, by Region:
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Others

Asia Pacific Wearable Medical Devices market key players 
• Omron Corporation
• Abbott Laboratories
• Samsung Electronics Co. Ltd.
• Sony Corporation
• Xiaomi Technology Co. Ltd.
• Pebble Technology Corporation
• Google Inc.
• Fitbit Inc.
• Apple Inc.
• Qualcomm Inc.
• Philips Electronics
• Basis Science
• Garmin
• Covidien
• Vital Connect
• Polar Electro
• Intelesens
• Everist Genomics
• Sotera Wireless
• Guangdong Transtek Medical Eletronics Co., Ltd.
Frequently Asked Questions:
1. Which region has the largest share in Asia Pacific Wearable Medical Devices Market?
Ans: Asia Pacific region held the highest share in 2021.

2. What is the growth rate of Asia Pacific Wearable Medical Devices Market?
Ans: The  Asia Pacific Wearable Medical Devices Market is expected to grow at a CAGR of 15.90% during forecast period 2022-2027.

3. What is scope of the  Asia Pacific Wearable Medical Devices market report?
Ans:  Asia Pacific Wearable Medical Devices Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in  Asia Pacific Wearable Medical Devices market?
Ans: The important key players in the  Asia Pacific Wearable Medical Devices Market are – , Omron Corporation, Abbott Laboratories, Samsung Electronics Co. Ltd., Sony Corporation, Xiaomi Technology Co. Ltd., Pebble Technology Corporation, Google Inc., Fitbit Inc., Apple Inc., Qualcomm Inc., Philips Electronics, Basis Science, Garmin, Covidien, Vital Connect, Polar Electro, Intelesens, Everist Genomics, Sotera Wireless, Guangdong Transtek Medical Eletronics Co., and Ltd..

5. What is the study period of this market?
Ans: The  Asia Pacific Wearable Medical Devices Market is studied from 2021 to 2027.