China Wearable Medical Devices Market to Grow at an Impressive Rate until 2025
Growing healthcare costs is expected to
drive the growth of China wearable medical devices market
According
to TechSci Research report, “China
Wearable Medical Devices Market By Type (Vital Signs Monitoring Devices v/s
Therapeutic Devices), By Product Type (Activity Monitors/Trackers,
Smartwatches, Patches, Smart Clothing), By Purpose (Heart rate, Blood Pressure,
Body Temperature, Blood oxygen saturation, Posture, Physical Activities,
Hearing Aids, Others), By Site (Handheld, Headband, Strap/Clip/Bracelet, Shoe
Sensors, Others), By Application (General Health & Fitness, Remote Patient
Monitoring, Home Healthcare), By Distribution Channel (Store-Based v/s
Non-Store-Based), By Business Segment (B2B Vs B2C), By Price Range (Economy,
Medium, Premium), By Source (Domestic, Cross-Border), By Region, Forecast &
Opportunities, 2025”, the China wearable medical
devices market is expected to grow at an impressive rate during the forecast
period on account of the increasing proliferation of internet and smartphones.
Furthermore, flourishing telecommunication industry and adoption of 3G, 4G, and
5G services is expected to foster the market growth through 2025. Besides, growing
prevalence of various chronic, infectious and lifestyle associated diseases in
the country. The ageing population is hence more susceptible to these diseases.
This has in turn led to the increase in adoption of wearable medical devices to
continuously monitor the patients’ health. Additionally, growing healthcare
awareness pertaining to different diseases and fitness is further expected to
propel the market growth. This has also increased the demand for applications
such as step counter, heart rate monitor, distance travelled monitor, among
others. Also, the advent of advanced technologies such as cloud computing,
connected devices, AI, among others is expected to bolster the market growth
during the forecast period. However, data security concerns might hamper the
market growth through 2025. Besides, unfavorable reimbursement policies can
further impede the market growth. Also, lack of awareness pertaining to the
availability of these devices is expected to restrict the market growth over
the next few years.
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The China wearable medical devices market is segmented based on type,
product type, purpose, site, application, price range, distribution channel,
business segment, company and region. Based
on type, the market can be split into vital signs monitoring devices and
therapeutic devices. Among these, the therapeutic devices segment is expected
to register significant growth in the market owing to the growing penetration
and demand for these devices. Based on product type, the market can be
fragmented into activity monitors/trackers, smartwatches, patches and smart
clothing. Here, the activity monitors/trackers type is expected to hold the
largest market share on account of the growing prevalence of diseases. This has
increased the need to monitor everyday physical activities, step count, among
others. Based on site, the market can be grouped into handheld, headband,
strap/clip/bracelet, shoe sensors and others. Among these, the strap/clip/bracelet
segment is expected to dominate the market since they help in monitoring
fitness parameters such as calories burned, footstep count, distance walked,
among others. Based on distribution channel, the market can be bifurcated into
store-based and non-store-based. Here, the store-based segment is expected to
dominate the market during the forecast period owing to the increasing
awareness pertaining to healthcare among the population. this has increased the
demand for self-monitoring and assessment of health.
CONTEC Medical Systems Co. Ltd, Cyrcadia Asia Limited, Xiaomi
Technologies, Huawei Corporation, Wuhan UN-medical Technology Co., Ltd, Tencent
Holdings Ltd., Omron Corporation, Abbott Laboratories Shanghai Co. Ltd,
Medtronic, Apple, Inc. and others are some of the leading players operating in China
wearable medical devices market. The companies operating in the market are
using organic strategies such as product launches, mergers and collaborations
to boost their share.
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“China
is the largest market for wearable medical devices in the Asia-Pacific. The
market is expected to grow significantly owing to the increasing healthcare
related awareness in the country. Additionally, increase in mortality rate due
to the prevalence of diseases such as diabetes, cardiovascular diseases, among
others is further expected to fuel the market growth. Furthermore,
technological advancements and new product launches by the major players
operating in the market is expected to create lucrative opportunities for the
market growth over the next few years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“China Wearable Medical Devices Market By Type
(Vital Signs Monitoring Devices v/s Therapeutic Devices), By Product Type
(Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose
(Heart rate, Blood Pressure, Body Temperature, Blood oxygen saturation,
Posture, Physical Activities, Hearing Aids, Others), By Site (Handheld,
Headband, Strap/Clip/Bracelet, Shoe Sensors, Others), By Application (General
Health & Fitness, Remote Patient Monitoring, Home Healthcare), By
Distribution Channel (Store-Based v/s Non-Store-Based), By Business Segment
(B2B Vs B2C), By Price Range (Economy, Medium, Premium), By Source (Domestic,
Cross-Border), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of China wearable
medical devices market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in China wearable
medical devices market.
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