The Asia Pacific Connected Health And Wellness Solutions Market would witness market growth of 20.3% CAGR during the forecast period (2021-2027).
With the advent of connected health and wellness solutions, people's response to workouts has significantly evolved. Connected health and wellness solutions can majorly increase the effectiveness of exercises as it offers a modern and advanced method of monitoring activities to the user. In addition, connected fitness gear, ranging from wearables to equipment, is addressing the issue of inefficient workouts by combining real-time monitoring and tracking of a range of data with AI-enabled feedback in order to help individuals achieve their objectives more swiftly and securely in the quickest possible manner.
For example, Garmin International announced pregnancy monitoring in November 2020, providing expectant mothers with a picture of their pregnancy along with other health and activity data. Th the market is expected to be driven by widespread acceptance of mHealth devices as well as the development of technologically enhanced product designs. The industry's growth is also predicted to be fueled by a concentrated approach to the increasing adoption of Internet of Things devices and wearable medical equipment, which comprise sensors along with mobile communication devices. Additionally, the increased focus on lowering spiraling healthcare costs and expanding awareness of connected health devices is forcing the healthcare sector to implement novel ways to handle high patient numbers, hence propelling the market.
The Indian government, for example, released the National Digital Health Blueprint (NDHB) report in April 2019, emphasizing the need of leveraging efficient and effective delivery of all digital healthcare services in the country. During the forecast period, such initiatives are expected to enhance market expansion. China achieved a wide range of businesses in the last year, from technology to education as well as food delivery. This has resulted in massive selloffs in Chinese markets. China's healthcare equities have outperformed the wider China indices so far this year. In comparison to the MSCI China index, which has fallen more than 13% year to far, the MSCI China's healthcare index has fallen barely below the flatline.
The China market dominated the Asia Pacific Connected Health And Wellness Solutions Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7,897.4 million by 2027. The Japan market is exhibiting a CAGR of 19.6% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 21.1% during (2021 - 2027).
Based on Product, the market is segmented into Personal Medical Devices, Wellness Products, and Software & Services. Based on Personal Medical Devices Type, the market is segmented into Insulin Pumps, BP Monitor, Glucose Monitor, Personal Pulse Oximeter, and Others. Based on Wellness Products Type, the market is segmented into Digital Pedometer, Heart Rate Monitor, Body Analyzer, Sleep Quality Monitor, and Others. Based on Software & Services Type, the market is segmented into Fitness & Wellness App, Online Subscription, and Others. Based on function, the market is segmented into Telehealth and Clinical Monitoring. Based on End User, the market is segmented into Hospitals & Clinics and Home Monitoring. Based on Application, the market is segmented into Wellness & Prevention, Monitor, Diagnosis & Treatment, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Connected Health and Wellness Solutions Market is Projected to reach USD 104.8 Billion by 2027, at a CAGR of 19.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Döhler Gmbh, Koninklijke DSM N.V., Handary S.A., Kemin Industries, Inc., Foodchem International Corporation, Nexira, Inc., Amway Corporation, The Green Labs LLC, Givaudan S.A., and Symrise AG.
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