Asia-Pacific Smart Medical Devices Market, By Product Type (Diagnostics and Monitoring Devices and Therapeutic Devices), Type (On-Body (Adhesive Patch), Off-Body (Belt Clip) and Hand Held), Technology (Spring-Based, Motor-Driven, Rotary Pump, Expanding Battery, Pressurized Gas and Others), Modality (Wearable and Non-Wearable), Application (Oncology, Diabetes, Auto-Immune Disorders, Infection Diseases, Sports and Fitness, Sleep Disorders and Others), End User (Hospitals, Clinics, Home Care, Sports Club and Others), Distribution Channel (Pharmacies, Online Channel and Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Smart Medical Devices Market Analysis and Size
Many countries in the Asia-Pacific region are experiencing economic growth, leading to increased healthcare spending. As people's incomes rise, they are more willing to invest in advanced healthcare technologies, including smart medical devices. Like many other parts of the world, the Asia-Pacific region is experiencing an aging population. This demographic shift is increasing the demand for healthcare services and technologies that can help manage chronic conditions and age-related health issues, which smart medical devices can address effectively. The prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory conditions is on the rise in the Asia-Pacific region. Smart medical devices, such as continuous glucose monitors and remote monitoring tools, are valuable for managing these conditions and improving patients' quality of life.
Data Bridge Market Research analyses that the Asia-Pacific smart medical devices market which was USD 8,000.00 million in 2022, is expected to reach USD 39,519.85 million by 2030, and is expected to undergo a CAGR of 22.1% during the forecast period 2023-2030. This indicates the market value. “Diagnostics and Monitoring Devices “dominates the product type segment of the Asia-Pacific smart medical devices market owing to the increasing investment in healthcare. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Smart Medical Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Diagnostics and Monitoring Devices and Therapeutic Devices), Type (On-Body (Adhesive Patch), Off-Body (Belt Clip) and Hand Held), Technology (Spring-Based, Motor-Driven, Rotary Pump, Expanding Battery, Pressurized Gas and Others), Modality (Wearable and Non-Wearable), Application (Oncology, Diabetes, Auto-Immune Disorders, Infection Diseases, Sports and Fitness, Sleep Disorders and Others), End User (Hospitals, Clinics, Home Care, Sports Club and Others), Distribution Channel (Pharmacies, Online Channel and Others)
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Countries Covered
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Japan, China, Australia, South Korea, India, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific
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Market Players Covered
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Johnson & Johnson Services, Inc (U.S.), Abbott (U.S.), Apple Inc.(U.S.), Medtronic (U.S.), F. Hoffman-La Roche Ltd.(Switzerland), Fitbit, Inc.(U.S.), Dexcom (U.S.), NeuroMetrix, Inc. (U.S.), CeQur SA (Switzerland), Huawei Devices Co., Ltd.(China), West Pharmaceutical Services, Inc. (U.S.), Sonova (Switzerland), BAE Systems (U.K.), Seiko Epson Corporation (Japan), Insulet Corporation (U.S.), Garmin Ltd.(U.S.), SAMSUNG ELECTRONICS CO., LTD. (South Korea), LG Electronics (South Korea), Enable Injections (U.S.), Debiotech S.A. (Switzerland)
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Market Opportunities
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Market Definition
The Asia-Pacific smart medical devices market is the regional market in the Asia-Pacific (APAC) area that involves the production, distribution, and utilization of smart medical devices. These devices are technologically advanced healthcare tools designed to enhance patient care, improve healthcare outcomes, and streamline healthcare processes through the integration of information technology, sensors, connectivity, and data analysis. These are medical devices equipped with advanced technologies that go beyond their traditional functions. Smart medical devices can collect data, transmit it wirelessly, and often include features like real-time monitoring, data analytics, and connectivity to healthcare systems or mobile apps. Examples include wearable fitness trackers, smart insulin pumps, and remote patient monitoring devices.
Asia-Pacific Smart Medical Devices Market Dynamics
Drivers
- Chronic Disease Management
The prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory conditions is on the rise in the Asia-Pacific region. Smart medical devices, such as continuous glucose monitors and remote monitoring tools, are valuable for managing these conditions and improving patients' quality of life.
- Technological Advancements
Advances in sensor technology, data analytics, and connectivity have made it possible to develop more sophisticated and user-friendly smart medical devices. These devices offer real-time data monitoring and improved treatment options, making them attractive to both healthcare providers and patients.
Opportunity
- Consumer Awareness and Demand
Increasing awareness among consumers about the benefits of smart medical devices for preventive healthcare and wellness management has driven demand. People are proactively seeking ways to monitor their health and fitness, which has boosted the market for wearables and other smart health devices.
Restraint/Challenge
- Regulatory Hurdles
Smart medical devices often face complex and evolving regulatory requirements in different countries within the Asia-Pacific region. Navigating these regulations and obtaining the necessary approvals for market entry can be time-consuming and costly.
Recent Developments
- In August 2020, Fitbit, Inc. announced the launch of Fitbit Sense, the most advanced health smart watch with the world’s first electro thermal activity sensor on smartwatch which will help manage stress along with advanced heart rate tracking technology. This will help the company to generate more revenue in coming years
- In September 2020, NeuroMetrix, Inc. announced the launch of Quell App for Apple Watch for pain relief device. This will enable high level of integration and novel pain relief functionality. This will help the user to control the device and monitor pain relief from the wrist. This will raise the demand in the market and help the company to grow
Asia-Pacific Smart Medical Devices Market Scope
The Asia-Pacific smart medical devices market is segmented on the basis of product type, type, technology, modality, application, end user, and distribution channel. The growth amongst these segments will help you analyse meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Diagnostics and Monitoring Devices
- Therapeutic Devices
Type
- On-Body (Adhesive Patch)
- Off-Body (Belt Clip)
Technology
- Spring-Based
- Motor-Driven
- Rotary Pump
- Expanding Battery
- Pressurized Gas
- Others
Modality
- Wearable
- Non-Wearable
Application
- Oncology
- Diabetes
- Auto-Immune Disorders
- Infection Diseases
- Sports and Fitness
- Sleep Disorders
- Others
End User
- Hospitals
- Clinics
- Home Care
- Sports Club
- Others
Distribution Channel
- Pharmacies
- Online Channel
- Others
Asia-Pacific Smart Medical Devices Market Regional Analysis/Insights
Asia-Pacific smart medical devices market is analyzed, and market size insights and trends are provided by product type, type, technology, modality, application, end user, and distribution channel as referenced above.
The countries covered in the Asia-Pacific smart medical devices market report are Japan, China, Australia, South Korea, India, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific
Japan dominates the Asia-Pacific smart medical devices market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period 2023-2030. This is due to rising healthcare expenditure will further propel the market's growth rate in this region. Additionally, favorable health remuneration policies, rise in chronic wounds, and a growing elderly population will further propel the market's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The Asia-Pacific smart medical devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Asia-Pacific smart medical devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Asia-Pacific smart medical devices market. The data is available for historic period 2015-2020.
Competitive Landscape and Asia-Pacific Smart Medical Devices Market Share Analysis
The Asia-Pacific smart medical devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific smart medical devices market.
Some of the major players operating in the Asia-Pacific smart medical devices market are:
- Johnson & Johnson Services, Inc (U.S.)
- Abbott (U.S.)
- Apple Inc. (U.S.)
- Medtronic (U.S.)
- F. Hoffman-La Roche Ltd. (Switzerland)
- Fitbit, Inc. (U.S.)
- Dexcom (U.S.)
- NeuroMetrix, Inc. (U.S.)
- CeQur SA (Switzerland)
- Huawei Devices Co., Ltd. (China)
- West Pharmaceutical Services, Inc. (U.S.)
- Sonova (Switzerland)
- BAE Systems (U.K.)
- Seiko Epson Corporation (Japan)
- Insulet Corporation (U.S.)
- Garmin Ltd. (U.S.)
- SAMSUNG ELECTRONICS CO., LTD. (South Korea)
- LG Electronics (South Korea)
- Enable Injections (U.S.)
- Debiotech S.A. (Switzerland)
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