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Asia-Pacific Smart Medical Devices Market - Industry Trends and Forecast to 2030

  • Medical Devices
  • Upcoming Report
  • Oct 2023
  • Asia-Pacific
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Asia-Pacific Smart Medical Devices Market - Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 22.1% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 8000.00 Million
Diagram Market Size (Forecast Year) USD 39519.85 Million
Diagram CAGR 22.1%

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

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

Japan, China, Australia, South Korea, India, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific

Market Players Covered

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)

Market Opportunities

  • Consumer Awareness and Demand
  • Rising Healthcare Expenditure
  • Technological Advancements
  • Telemedicine and Remote Monitoring

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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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Asia-Pacific smart medical devices market size will be worth USD 39,519.85 million by 2030.
The growth rate of the Asia-Pacific smart medical devices market is 22.1% in the forecast period by 2030.
The prevalence of chronic diseases such as diabetes, cardiovascular diseases & advances in sensor technology, data analytics, and connectivity are the growth drivers of the Asia-Pacific smart medical devices market.
Product type, type, technology, modality, application, end user, and distribution channel are the factors on which the Asia-Pacific smart medical devices market research is based.
Major companies 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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