Wearable healthcare device is a non-invasive device that performs medical function that includes monitoring and supporting a variety of patient activities over an extended period of time. These devices are generally used to continuously monitor the health of patients. With the increasing prevalence of lifestyle-related diseases such as high blood pressure and obesity, wearable medical devices are increasingly being used to manage medical problems.
As per analysis, “Asia Pacific Wearable Healthcare Devices Market 2020-2030 by Device Type (Diagnostic & Monitoring, Therapeutic), Product Type (Smartwatches, Monitors/Trackers, Patches), Connectivity, Application, Grade Type, Distribution Channel, and Country: Trend Forecast and Growth Opportunity” Several reorganized companies are currently active in the wearable medical device market including Xiaomi Corporation., Atlas Wearables Inc., 3L Labs, iHealth Labs Inc., OMRON Corporation, Abbott, Leapfrog Enterprises Inc., Fitbit, Inc., Samsung Electronics, Garmin Ltd., Actofit Wearables, Koninklijke Philips N.V., Medtronic plc, Sony Corporation, Huawei Devices Co. Ltd., Johnson and Johnson, Apple Inc. and among others. More and more players in the market intensify competition.The big players are revolutionizing the market with the introduction of several new products In addition, new competitors are emerging in the form of startups that are in the process of developing technologies to advance wearable healthcare technologies and provide EHR integration for healthcare systems, which has made the market very competitive.
In terms of product type, Asia-Pacific wearable healthcare devices market has been segmented as smart-watches, smart patches, smart implantable, activity monitors/trackers, smart clothing, smart jewelry and others. In terms of connectivity, market has been segmented as Near Field Communication (NFC), Wi-Fi networks, Bluetooth technology, cellular network, and other connectivity types. In terms of device type, market can be categorized as diagnostic/monitoring devices and therapeutic devices. Diagnostic & monitoring devices has been further sub-segmented as fetal monitoring & obstetric devices, glucose monitoring devices, vital signs monitoring devices, sleep monitoring devices, neuro-monitoring devices and others. Additionally, therapeutic devices have been further sub-segmented as insulin pumps, respiratory therapy devices, rehabilitation devices, pain management devices and others. Additionally, in terms of application type, market has been further sub-segmented as remote patient monitoring, general health & fitness and home healthcare. The home healthcare segment is predicted to witness higher growth rate due to increase in geriatric population triggering prevalence rates of the target diseases coupled with rise in need to curb healthcare expenditure as an economically viable initiative during the forecast period.
The Asia-Pacific wearable healthcare devices market is driven by robust penetration of 3G & 4G networks for uninterrupted healthcare services, followed by increase in geriatric population, rise in awareness of fitness & healthy lifestyles, growth in preference for wireless connectivity among healthcare providers, cost-containment in healthcare delivery, growth in development of technologically advanced products, increase in penetration of smartphones and growth in number of smartphone-based healthcare apps. Apart from this, limited battery life and unfavorable standards & regulations may impact the market. Moreover, growth in adoption of artificial intelligence (AI) & 5G and growth in adoption of mobile platforms are leading opportunities for market.
It is predicted that Asia-Pacific wearable healthcare devices market will be reached at rapid pace because of increase in per-capita income in developing countries, growth in technological advancements and innovations and ease-of-use & interpretation of medical devices during the forecast period.
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Asia Pacific Wearable Healthcare Devices Market Research Report
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