The China wearable medical devices market size is anticipated to reach USD 6.28 billion by 2030 and is projected to grow at a CAGR of 28.5% till 2030, according to a new report by Grand View Research, Inc. Factors such as growing awareness about personal health monitoring, gradual developments in artificial intelligence, and the rising incidence of obesity and chronic illnesses drive the market growth. Instances include continuous glucose monitors (CGM), worn on the body to track blood sugar; electrocardiogram (ECG) patches, which record cardiac information; and wearable blood pressure monitors, which gather patients' variations in blood pressure. The medical wearables devices market is expanding in China due to the country's aging population and rising healthcare expenditures. Favorable government initiatives and rapidly growing production facilities contribute to the industry's growth. Get deeper insights, latest developments & key market drivers in the China Wearable Medical Devices Market
Market Report Highlights
• Based on product, the diagnostic devices segment led the market with the largest revenue share. The diagnostic devices segment includes wearable electrocardiogram (ECG) monitors, blood glucose monitors, blood pressure monitors, and other health-tracking devices
• Based on application, the remote patient monitoring segment is expected to grow at the fastest CAGR over the forecast period
• Based on site, the clip/strap/bracelet segment held the market with the largest revenue share.
• Based on grade type, the consumer segment held the largest majority share, due to their user-friendly features and emphasis on tracking personal fitness and health
Recent Developments
• In September 2023, Huawei's launch event in Barcelona announced a new era of fashionable, health-focused, athletic wearables. Huawei aims to transform the wearables market by combining state-of-the-art technology, stylish design, and user-focused health features
• In August 2023, China government announced new plans to strengthen medical device regulation to address inequities in the use of medical devices. The NMPA and NHC released the revised Good Clinical Practice for medical device trials in response to specific regulations mentioned in the 2021 regulation
Key Company Insights
Some of the key players operating in the market include CONTEC Medical Systems Co. Ltd., Huawei Corporation, and Tencent Holdings Ltd.
The market growth stage is high, and pace of the market growth is accelerating. The China market is characterized by a high degree of innovation. The increasing use of innovative technologies, including fifth-generation wireless networks and artificial intelligence, among others, is probably going to fuel market expansion.
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Key questions answered in this report
• How big is the China wearable medical devices market?
• What is the China wearable medical devices market growth?
• Which segment accounted for the largest China wearable medical devices market share?
• Who are the key players in the China wearable medical devices market?
• What are the factors driving the China wearable medical devices market?