Asia Pacific Connected Healthcare Device Market 2023-2033 by Product (Medical Devices, Wellness Devices, Software & Services), Device Type (Wearable, Implantable, Stationary), Application (Remote Monitoring, Consultation and Diagnosis, Treatment, Fitness and Wellness), End User (Hospitals, Clinics, ASCs, Home Care), and Country: Trend Forecast and Growth Opportunity
Asia Pacific connected healthcare device market will grow by 21.1% annually with a total addressable market cap of $495.3 billion over 2024-2033. The growth is driven by the emergence of telehealth and telemedicine services, benefits such as reliability and effective patient monitoring, the penetration of mobile and internet technology, government initiatives, growing spending on R&D activities, and an increasing adoption of IT and IoT in healthcare.
Highlighted with 33 tables and 61 figures, this 133-page report “Asia Pacific Connected Healthcare Device Market 2023-2033 by Product (Medical Devices, Wellness Devices, Software & Services), Device Type (Wearable, Implantable, Stationary), Application (Remote Monitoring, Consultation and Diagnosis, Treatment, Fitness and Wellness), End User (Hospitals, Clinics, ASCs, Home Care), and Country: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire Asia Pacific connected healthcare device market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2021-2023 and provides a forecast from 2024 till 2033 with 2023 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Asia Pacific connected healthcare device market in every aspect of the classification from perspectives of Product, Device Type, Application, End User, and Country.
Based on Product, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2023-2033 included in each section.
• Medical Devices
o Blood Pressure Monitor
o Glucose Monitor
o Insulin Pump
o ECG Monitoring Device
o Pulse Oximeter
o Portable GPS PERS
o Smart Pill Dispenser
o Other Medical Devices
• Wellness Devices
o Body Analyzer
o Digital Pedometer
o GPS Sports Watch
o Heart Rate Monitor
o Sleep Quality Monitor
o Other Wellness Devices
• Software & Services
o Fitness & Wellness App
o Online Subscription
o Other Software & Services
Based on Device Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2023-2033 included in each section.
• Wearable Devices
• Implantable Devices
• Stationary Devices
By Application, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2023-2033 included in each section.
• Remote Monitoring
• Consultation and Diagnosis Services
• Treatment Services
• Fitness and Wellness Services
By End User, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2023-2033 included in each section.
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers (ASCs)
• Home Care Settings
• Other End Users
Geographically, the following national/local markets are fully investigated:
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2023-2033. The breakdown of national markets by Product, Device Type, and End User and Application over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Abbott Laboratories
Aerotel Medical System Ltd.
AgaMatrix, Inc.
Apple Inc.
BioTelemetry Inc.
Biotronik SE & Co. KG
Boston Scientific Corporation
DexCom Inc.
Draeger Medical Systems, Inc.
F. Hoffmann-La Roche AG
Fitbit, Inc.
Garmin Ltd.
GE Healthcare
Honeywell International Inc.
IHealth Labs (Subsidiary of Andon Health)
Johnson & Johnson
Koninklijke Philips NV
McKesson Corporation
Medtronic PLC
NXP Semiconductors NV
Omron Healthcare Inc.
Phillips Healthcare Company
Siemens Healthcare Private Limited
Stanley Healthcare
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 14
1.2.6 Market Size/Share Estimation 15
1.2.7 Research Limitations 16
1.3 Executive Summary 17
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.1.1 Impact of COVID-19 on World Economy 21
2.1.2 Impact of COVID-19 on the Market 26
2.1.3 Impact of Russia-Ukraine Conflict 28
2.1.4 Impact of Israel-Palestine War 30
2.2 Major Growth Drivers 31
2.3 Market Restraints and Challenges 35
2.4 Emerging Opportunities and Market Trends 38
2.5 Porter’s Fiver Forces Analysis 42
3 Segmentation of Asia Pacific Market by Product 46
3.1 Market Overview by Product 46
3.2 Medical Devices 48
3.2.1 Blood Pressure Monitor 50
3.2.2 Glucose Monitor 51
3.2.3 Insulin Pump 52
3.2.4 ECG Monitoring Device 53
3.2.5 Pulse Oximeter 54
3.2.6 Portable GPS PERS 55
3.2.7 Smart Pill Dispenser 56
3.2.8 Other Medical Devices 57
3.3 Wellness Devices 58
3.3.1 Body Analyzer 60
3.3.2 Digital Pedometer 61
3.3.3 GPS Sports Watch 62
3.3.4 Heart Rate Monitor 63
3.3.5 Sleep Quality Monitor 64
3.3.6 Other Wellness Devices 65
3.4 Software & Services 66
3.4.1 Fitness & Wellness App 67
3.4.2 Online Subscription 68
3.4.3 Other Software & Services 69
4 Segmentation of Asia Pacific Market by Device Type 70
4.1 Market Overview by Device Type 70
4.2 Wearable Devices 72
4.3 Implantable Devices 73
4.4 Stationary Devices 74
5 Segmentation of Asia Pacific Market by Application 75
5.1 Market Overview by Application 75
5.2 Remote Monitoring 77
5.3 Consultation and Diagnosis Services 78
5.4 Treatment Services 79
5.5 Fitness and Wellness Services 80
6 Segmentation of Asia Pacific Market by End User 81
6.1 Market Overview by End User 81
6.2 Hospitals 83
6.3 Specialty Clinics 84
6.4 Ambulatory Surgical Centers (ASCs) 85
6.5 Home Care Settings 86
6.6 Other End Users 87
7 Asia-Pacific Market 2023-2033 by Country 88
7.1 Overview of Asia-Pacific Market 88
7.2 Japan 91
7.3 China 94
7.4 Australia 96
7.5 India 98
7.6 South Korea 100
7.7 Rest of APAC Region 102
8 Competitive Landscape 104
8.1 Overview of Key Vendors 104
8.2 New Product Launch, Partnership, Investment, and M&A 107
8.3 Company Profiles 108
Abbott Laboratories 108
Aerotel Medical System Ltd. 110
AgaMatrix, Inc. 111
Apple Inc. 112
BioTelemetry Inc. 113
Biotronik SE & Co. KG 114
Boston Scientific Corporation 115
DexCom Inc. 116
Draeger Medical Systems, Inc. 117
F. Hoffmann-La Roche AG 118
Fitbit, Inc. 119
Garmin Ltd. 120
GE Healthcare 121
Honeywell International Inc. 122
IHealth Labs (Subsidiary of Andon Health) 123
Johnson & Johnson 124
Koninklijke Philips NV 125
McKesson Corporation 126
Medtronic PLC 127
NXP Semiconductors NV 128
Omron Healthcare Inc. 129
Phillips Healthcare Company 130
Siemens Healthcare Private Limited 131
Stanley Healthcare 132
RELATED REPORTS 133
List of Tables:
Table 1. Snapshot of Asia Pacific Connected Healthcare Device Market in Balanced Perspective, 2023-2033 18
Table 2. World Economic Outlook, 2024-2036 23
Table 3. World Economic Outlook, 2022-2024 25
Table 4. Scenarios for Economic Impact of Ukraine Crisis 29
Table 5. Scenarios for Economic Impact of Israel-Palestine War 30
Table 6. Main Product Trends and Market Opportunities in Asia Pacific Connected Healthcare Device Market 38
Table 7. Asia Pacific Connected Healthcare Device Market by Product, 2023-2033, $ mn 46
Table 8. Asia Pacific Connected Healthcare Device Market: Medical Devices by Type, 2023-2033, $ mn 49
Table 9. Asia Pacific Connected Healthcare Device Market: Wellness Devices by Type, 2023-2033, $ mn 59
Table 10. Asia Pacific Connected Healthcare Device Market: Software & Services by Type, 2023-2033, $ mn 66
Table 11. Asia Pacific Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 70
Table 12. Asia Pacific Connected Healthcare Device Market by Application, 2023-2033, $ mn 75
Table 13. Asia Pacific Connected Healthcare Device Market by End User, 2023-2033, $ mn 81
Table 14. APAC Connected Healthcare Device Market by Country, 2023-2033, $ mn 89
Table 15. Japan Connected Healthcare Device Market by Product, 2023-2033, $ mn 93
Table 16. Japan Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 93
Table 17. Japan Connected Healthcare Device Market by End User, 2023-2033, $ mn 93
Table 18. China Connected Healthcare Device Market by Product, 2023-2033, $ mn 95
Table 19. China Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 95
Table 20. China Connected Healthcare Device Market by End User, 2023-2033, $ mn 95
Table 21. Australia Connected Healthcare Device Market by Product, 2023-2033, $ mn 97
Table 22. Australia Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 97
Table 23. Australia Connected Healthcare Device Market by End User, 2023-2033, $ mn 97
Table 24. India Connected Healthcare Device Market by Product, 2023-2033, $ mn 99
Table 25. India Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 99
Table 26. India Connected Healthcare Device Market by End User, 2023-2033, $ mn 99
Table 27. South Korea Connected Healthcare Device Market by Product, 2023-2033, $ mn 101
Table 28. South Korea Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 101
Table 29. South Korea Connected Healthcare Device Market by End User, 2023-2033, $ mn 101
Table 30. Connected Healthcare Device Market in Rest of APAC by Country/Region, 2023-2033, $ mn 103
Table 31. Abbott Laboratories: Company Snapshot 108
Table 32. Abbott Laboratories: Business Segmentation 109
Table 33. Abbott Laboratories: Product Portfolio 109
List of Figures:
Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. Asia Pacific Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2023-2033 17
Figure 4. Industry Value Chain Analysis 20
Figure 5. Asia Pacific Connected Healthcare Device Market, 2023-2033, $ mn 21
Figure 6. Impact of COVID-19 on Business 26
Figure 7. Primary Drivers and Impact Factors of Asia Pacific Connected Healthcare Device Market 31
Figure 8. The Benefits of Connected Medical Devices 34
Figure 9. World Industrial IoT Market, 2019-2030, $ mn 34
Figure 10. Primary Restraints and Impact Factors of Asia Pacific Connected Healthcare Device Market 35
Figure 11. Investment Opportunity Analysis 39
Figure 12. Porter’s Fiver Forces Analysis of Asia Pacific Connected Healthcare Device Market 42
Figure 13. Breakdown of Asia Pacific Connected Healthcare Device Market by Product, 2023-2033, % of Revenue 47
Figure 14. Asia Pacific Addressable Market Cap in 2024-2033 by Product, Value ($ mn) and Share (%) 47
Figure 15. Asia Pacific Connected Healthcare Device Market by Product: Medical Devices, 2023-2033, $ mn 48
Figure 16. Asia Pacific Connected Healthcare Device Market by Medical Devices: Blood Pressure Monitor, 2023-2033, $ mn 50
Figure 17. Asia Pacific Connected Healthcare Device Market by Medical Devices: Glucose Monitor, 2023-2033, $ mn 51
Figure 18. Asia Pacific Connected Healthcare Device Market by Medical Devices: Insulin Pump, 2023-2033, $ mn 52
Figure 19. Asia Pacific Connected Healthcare Device Market by Medical Devices: ECG Monitoring Device, 2023-2033, $ mn 53
Figure 20. Asia Pacific Connected Healthcare Device Market by Medical Devices: Pulse Oximeter, 2023-2033, $ mn 54
Figure 21. Asia Pacific Connected Healthcare Device Market by Medical Devices: Portable GPS PERS, 2023-2033, $ mn 55
Figure 22. Asia Pacific Connected Healthcare Device Market by Medical Devices: Smart Pill Dispenser, 2023-2033, $ mn 56
Figure 23. Asia Pacific Connected Healthcare Device Market by Medical Devices: Other Medical Devices, 2023-2033, $ mn 57
Figure 24. Asia Pacific Connected Healthcare Device Market by Product: Wellness Devices, 2023-2033, $ mn 58
Figure 25. Asia Pacific Connected Healthcare Device Market by Wellness Devices: Body Analyzer, 2023-2033, $ mn 60
Figure 26. Asia Pacific Connected Healthcare Device Market by Wellness Devices: Digital Pedometer, 2023-2033, $ mn 61
Figure 27. Asia Pacific Connected Healthcare Device Market by Wellness Devices: GPS Sports Watch, 2023-2033, $ mn 62
Figure 28. Asia Pacific Connected Healthcare Device Market by Wellness Devices: Heart Rate Monitor, 2023-2033, $ mn 63
Figure 29. Asia Pacific Connected Healthcare Device Market by Wellness Devices: Sleep Quality Monitor, 2023-2033, $ mn 64
Figure 30. Asia Pacific Connected Healthcare Device Market by Wellness Devices: Other Wellness Devices, 2023-2033, $ mn 65
Figure 31. Asia Pacific Connected Healthcare Device Market by Product: Software & Services, 2023-2033, $ mn 66
Figure 32. Asia Pacific Connected Healthcare Device Market by Software & Services: Fitness & Wellness App, 2023-2033, $ mn 67
Figure 33. Asia Pacific Connected Healthcare Device Market by Software & Services: Online Subscription, 2023-2033, $ mn 68
Figure 34. Asia Pacific Connected Healthcare Device Market by Product: Other Software & Services, 2023-2033, $ mn 69
Figure 35. Breakdown of Asia Pacific Connected Healthcare Device Market by Device Type, 2023-2033, % of Sales Revenue 71
Figure 36. Asia Pacific Addressable Market Cap in 2024-2033 by Device Type, Value ($ mn) and Share (%) 71
Figure 37. Asia Pacific Connected Healthcare Device Market by Device Type: Wearable Devices, 2023-2033, $ mn 72
Figure 38. Asia Pacific Connected Healthcare Device Market by Device Type: Implantable Devices, 2023-2033, $ mn 73
Figure 39. Asia Pacific Connected Healthcare Device Market by Device Type: Stationary Devices, 2023-2033, $ mn 74
Figure 40. Breakdown of Asia Pacific Connected Healthcare Device Market by Application, 2023-2033, % of Sales Revenue 76
Figure 41. Asia Pacific Addressable Market Cap in 2024-2033 by Application, Value ($ mn) and Share (%) 76
Figure 42. Asia Pacific Connected Healthcare Device Market by Application: Remote Monitoring, 2023-2033, $ mn 77
Figure 43. Asia Pacific Connected Healthcare Device Market by Application: Consultation and Diagnosis Services, 2023-2033, $ mn 78
Figure 44. Asia Pacific Connected Healthcare Device Market by Application: Treatment Services, 2023-2033, $ mn 79
Figure 45. Asia Pacific Connected Healthcare Device Market by Application: Fitness and Wellness Services, 2023-2033, $ mn 80
Figure 46. Breakdown of Asia Pacific Connected Healthcare Device Market by End User, 2023-2033, % of Revenue 82
Figure 47. Asia Pacific Addressable Market Cap in 2024-2033 by End User, Value ($ mn) and Share (%) 82
Figure 48. Asia Pacific Connected Healthcare Device Market by End User: Hospitals, 2023-2033, $ mn 83
Figure 49. Asia Pacific Connected Healthcare Device Market by End User: Specialty Clinics, 2023-2033, $ mn 84
Figure 50. Asia Pacific Connected Healthcare Device Market by End User: Ambulatory Surgical Centers (ASCs), 2023-2033, $ mn 85
Figure 51. Asia Pacific Connected Healthcare Device Market by End User: Home Care Settings, 2023-2033, $ mn 86
Figure 52. Asia Pacific Connected Healthcare Device Market by End User: Other End Users, 2023-2033, $ mn 87
Figure 53. Breakdown of APAC Connected Healthcare Device Market by Country, 2023 and 2033, % of Revenue 89
Figure 54. Contribution to APAC 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 90
Figure 55. Connected Healthcare Device Market in Japan, 2023-2033, $ mn 92
Figure 56. Connected Healthcare Device Market in China, 2023-2033, $ mn 94
Figure 57. Connected Healthcare Device Market in Australia, 2023-2033, $ mn 96
Figure 58. Connected Healthcare Device Market in India, 2023-2033, $ mn 98
Figure 59. Connected Healthcare Device Market in South Korea, 2023-2033, $ mn 100
Figure 60. Connected Healthcare Device Market in Rest of APAC, 2023-2033, $ mn 102
Figure 61. Growth Stage of Asia Pacific Connected Healthcare Device Industry over the Forecast Period 104
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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