Wearable Medical Device: Rising Prevalence of Chronic Diseases and Demand for Technological Innovations in Healthcare Favor The Growth of Asia Pacific Market

Pune, India, November, 2017 /MRFR Press Release/- Market Research Future has a half cooked research report on Asia Pacific wearable medical device market. The Asia Pacific market for wearable medical device market is growing continuously and expected to grow at a CAGR of 15.94% from 2017 till 2023

Market Highlights

Wearable medical device keep a track of one’s fitness. Smart watches, and smart sensors measure blood glucose level, heart rate and various other parameters acting as a preventive method to avoid elevating health conditions. 

Wearable medical devices market is flourishing and is expected to continue its speedy growth due to changing lifestyle of people, increasing prevalence of obesity and diabetes and growing awareness about health. Extensive use of fitness trackers by adults also boost the demand for wearable medical devices. Furthermore, strict regulations governing standards for the manufacturing of medical devices also drives the market growth.

High cost of fitness trackers may restrain the market growth. Prominent market players are now targeting the youth by product differentiation and selling the devices at affordable prices. Fierce competition among existing market players acts as a barrier of the entry of new players in the market.

Asia Pacific wearable medical device market is expected to reach USD 5.48 billion by 2023 at a CAGR of 15.94% during the forecast period 2017 till 2023.

Taste the market data and market information presented through more than 22 market data tables and figures spread over 80 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Wearable medical device market Research Report –Asia Pacific Forecast till 2023.”

Segmentation:

Asia Pacific wearable medical devices market is segmented on the basis of types, applications, and end users. On the basis of types, the market is segmented into diagnostic, vital sign monitoring, and therapeutic devices. On the basis of applications, it is segmented into fitness devices, blood pressure monitoring devices, heart rate monitoring devices, weight monitoring devices, and others. On the basis of the end users, the market is segmented as sports person, patients, and others.

Asia Pacific Wearable medical device market Players:

Key players in wearable medical device market are Abbott (U.S.), Baxter (U.S.), B. Braun Melsungen AG (Germany), Becton Dickinson Company (U.S.), Boston Scientific (U.S.), Cardinal Health (U.S.), General Electric Company (U.S.), Johnson & Johnson (U.S.), Medtronic (U.S.), Koninklijke Philips N.V. (Netherland), Siemens (U.S.), and Stryker (U.S.)

Regional Analysis

Asia Pacific, wearable medical device market consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia Pacific. Demand for innovative technology for continuous monitoring of health drives the market in Asia Pacific.

Japan is the largest market for wearable medical devices owing to the extensive use of these devices and presence of prominent market players.

India is the second largest market in Asia Pacific due to increase in the prevalence of chronic diseases like obesity and diabetes, demand for continuous blood glucose monitoring and heart rate monitoring system. Diabetes is one of the major health problem among the geriatric population in India. Furthermore, majority of people face the problem of obesity and other lifestyle diseases which act as risk factors for diabetes thus boosting the demand for these devices.

China is mainly focusing on export of medical devices and large number of local medical device manufacture are involved in export.

Australia and Republic of Korea show slow growth in wearable medical device market. 

Access Report Details @ https://www.marketresearchfuture.com/reports/asia-pacific-wearable-medical-device-market-629

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