2018 Wearable Medical Device Market Key Player Overview | Baxter, Boston Scientific, General Electric Co, Johnson & Johnson and Asia-Pacific Forecast to 2023

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.

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.

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.

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.”

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Key Players:

Some of the major players in this 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 of Wearable Medical Device Market

Asia Pacific region is divided into countries namely India, Japan, China, Republic of Korea, Australia, and Rest of Asia Pacific. Countries in Asia Pacific have a great potential for the growth of this market. Asia Pacific market for medical devices is driven by innovative technology for continuous monitoring of health status of a patient in hospitals as well as sportsmen and athletes. The demand for easy to use wearable medical devices is increasing in China and India. Furthermore, increasing prevalence of cardiovascular diseases, diabetes and obesity drive the market growth. Growing trend in the use of wearable medical devices such as smart watches also influences the growth of the market.

China is the largest market for these devices due to increasing awareness regarding fitness and health, technological advancement and increasing prevalence of diabetes and heart diseases. According to the World Health Organization, the number of annual cardiovascular events account to 41% of total deaths in China, while number of diabetic patients in India was about 65 million in 2016, which will reach to 101 million by 2030. According to the International Diabetes Federation, about 420 million adult population worldwide was suffering from diabetes in 2016, which is increasing at the rate of 8.4% per year and is expected to reach 625 million by 2040.

According to the Lancet study, China, and India are among the top two countries with a high number of diabetic population. The number of diabetic population has increased from 20.4 million in China in 1980 to 102.9 million in 2014, and the rise has been equally dramatic in India from 11.9 million in 1980 to 64.5 million in India. By 2030, both of the countries together will have about half a billion diabetic population.

India is the second largest market owing to increasing prevalence of chronic disease such as diabetes and chronic heart diseases, which is expected to be the fastest growing market over the forecast period. Additionally, increasing demand for heart rate and blood glucose monitoring devices drives the market in India.

Japan is the third largest market for wearable medical devices. Whereas the market has shown steady growth is Australia.

Brief TOC

1 Report Prologue
2 Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

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3 Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary research

3.4 Market Size Estimation

4 Market Dynamics

….TOC Continued

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