China Wearable Medical Devices Market Size, Share & Trends Analysis Report By Product (Diagnostic, Therapeutic), By Site, By Grade Type, By Application, By Distribution Channel, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The China wearable medical devices market size was estimated at USD 1.08 billion in 2023 and is projected to grow at a CAGR of 28.5% from 2024 to 2030. The growing awareness of personal health monitoring and the rising incidence and prevalence of lifestyle-related diseases like diabetes and hypertension contribute to an increased demand for wearable medical devices in China. According to the World Health Organization (WHO), approximately 270 million individuals in China suffer from hypertension; only 13.8% of these patients have their condition under control, and not all hypertensive patients have access to treatment.

The market holds significant opportunities driven by the increasing usage of advanced technologies, growing financing, grants, and investments. In addition, increasing interest in health monitoring among athletes and fitness admirers is anticipated to bolster market expansion.

The Chinese government has initiated numerous campaigns and awareness programs that have quickly increased health awareness among the populace. This has driven up demand for wearable medical devices, which is projected to support the market's growth. For instance, in August 2021, China's 14th Five-Year Plan (14th FYP), which covers the country's next five years of planning, has as its goal building a "Healthy China," which strives to enhance socioeconomic circumstances generally, including healthcare. Furthermore, many people are learning that medical devices like fitness trackers and smartwatches can monitor many physiological characteristics.

Technological advancements in wearable medical devices are expected to propel the market growth, while China's progress in medical reforms and investments in AI, analytics, and IoT further drive expansion; specifically, AI in 5G can predict patient diagnoses and treatment durations. For instance, in 2021, Apple announced a partnership with the biotech company Biogen for a new research study to establish the efficacy of mHealth wearable devices in identifying early indicators of cognitive impairment. Furthermore, it helps the support & development of remote monitoring and care management systems by healthcare professionals.

The impact of COVID-19 in China has led to a significant rise in the use of wearable medical devices. The ability to measure COVID-19 symptoms, including temperature, oxygen saturation level, and breathing rate, has been approved and adjusted for these devices. Increased investment in the research and development of these devices has resulted from the pandemic's positive impact on sales of medical products in China that pertain to the prevention and management of COVID-19. The use of wearable technology, in particular, has increased as a tool for health monitoring throughout the pandemic.

The market for wearable medical devices in Shanghai is primarily driven by technological improvements, growing healthcare costs, and the increasing prevalence of chronic conditions. People use these wearable devices more frequently owing to their cost, ease of use, and capacity to deliver real-time medical information. Key players in Shanghai's wearable medical devices market include Apple Inc., Fitbit Inc., Garmin Ltd., and Xiaomi Corporation. Some main drivers driving the demand for wearable medical devices in Shanghai are the aging population, the rising prevalence of chronic diseases, and the rising awareness of preventive healthcare.

In Shanghai, smartwatches are among the most often used wearable medical devices. They can track a number of health statistics, including exercise, blood oxygen levels, heart rate, and sleep patterns. For instance, in September 2020, the Apple Watch Series 6 has a blood oxygen sensor that can detect low oxygen levels, which can be an early sign of COVID-19 infection. Regions in China, such as Beijing, Guangzhou, and Chengdu, dominate the China market.

Market Concentration & Characteristics

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. For instance, in November 2023, during the Redmi K70 launch event in China, Xiaomi announced the launch of the Redmi Watch 4, which includes an AMOLED panel supporting Always-On Display, has a 470 mAh battery, and runs on the HyperOS platform.

The China market is also characterized by the leading player's moderate merger and acquisition (M&A) activity. The market is characterized by many companies offering a wide range of innovative devices, creating a competitive environment. This fragmentation is driven by ongoing technological advancements, fostering the development of various wearable medical solutions.

The China market is also subject to increasing regulatory scrutiny. The Chinese government has added wearable intelligent health equipment to the foreign investment encouraged catalog, indicating a focus on this sector and the need for compliance with regulatory requirements. According to the CIRS GROUP, wearable medical devices, integrating sensors, wireless communication, and other technologies are regulated by the China Food and Drug Administration (CFDA). CFDA regulations consist of general requirements applicable to all medical devices, specific criteria tailored for wearable devices, including electromagnetic and software safety, and registration procedures delineating the steps for device approval. Complementary industry standards such as GB/T 191-2008, GB 4793.1-2007, and GB/T 18268.1-2010 provide packaging, electrical safety, and electromagnetic compatibility guidelines, aiding manufacturers in ensuring their products meet CFDA safety and performance standards.

China’s massive digitalization of the healthcare sector is driving the emergence of a wide range of services and substitutes in the country. Wearable medical devices, such as smartwatches and fitness trackers, are being increasingly replaced with remote monitoring services, enabling patients to monitor their health from the comfort of their homes. For instance, in October 2023, Qualcomm and Google collaborated to develop RISC-V chips for wearable devices, aiming to produce smartwatches and similar wearables utilizing this advanced technology. This partnership aims to leverage RISC-V's capabilities to enhance performance and efficiency in wearable device designs.

End-user concentration is a significant factor in China market since several end-user industries drive demand for digital health. The growing presence of hospitals, home care & the development of traditional health solutions, such as fitness & wellness, the influence of regulations, the growing adoption of medical health applications, and the empowerment of patients characterize the market.

Product Insights

The diagnostic devices segment dominated the market with the largest revenue share of 62.14% in 2023, owing to the increase in the prevalence of neurological disorders. Furthermore, it is anticipated that growing public awareness of neurological wearables' capacity to continuously evaluate cognitive performance throughout daily activities would support market expansion.

According to a report published in October 2023 by the World Federation of Neurology, neurological disorders are the second leading cause of death and disability in the world. According to a similar study, neurological disorders afflict 40% or more of the world's population today, and by 2050, this number is predicted to nearly triple. Nearly 90% of all neurological illnesses are caused by the top 10 conditions, which include stroke, neonatal encephalopathy, migraine, dementia, meningitis, epilepsy, neurological complications, premature birth, neurodegenerative disorders, autism spectrum disorders, and Parkinson's disease.

The therapeutic devices segment is anticipated to witness at the fastest CAGR during the forecast period. The market is anticipated to be influenced by elements including the rising need for therapeutic devices, the expansion of manufacturing, and the need for wearable pain relievers, insulin management devices, and intelligent asthma management products. With a wide range of applications, the market is further divided into segments for pain management, insulin monitoring, rehabilitation, and respiratory treatment devices.

Application Insights

In terms of application, the home healthcare segment led the market with the largest revenue share of 53.65% in 2023. Wearable medical devices frequently have sensors and connectivity built in, medical professionals may monitor patients' vital signs and health information from a distance. Patients can closely monitor their status without often visiting hospitals thanks to this remote monitoring feature, which is especially helpful for people who live in distant places or have limited mobility. For instance, in October 2023, Honor launched the Watch 4 Pro in China, having a premium design reminiscent of a traditional timepiece while offering a variety of convenient and health-centric features. The smartwatch includes a heart-rate monitor, SpO2 sensor, and sleep and stress tracking capabilities, with additional features such as atrial fibrillation detection and a fat-burning algorithm, alongside built-in GPS and multiple sports modes support.

In addition, wearable technology is comfortable, lightweight, and user-friendly, which makes it perfect for home healthcare environments. Patients won't feel uncomfortable or inconvenienced when wearing these gadgets for extended periods of time. By offering insightful information about their health and empowering them to make knowledgeable decisions about their care, these medical gadgets provide patients with greater control over their health. This feature of self-management gives patients the ability to actively participate in their healthcare journey and may improve treatment plan adherence.

Patients can monitor their health from home with wearable gadgets, and they can share their data with healthcare providers as well. Patients and medical staff will save time and effort by not having to make as many in-person visits as before. For instance, according to the National Library of Medicine, 2023, home healthcare is more likely to be equally effective and less expensive than hospitals. These gadgets can gather health data in real time, giving medical professionals constant, around-the-clock observation. Continuous monitoring makes it possible to identify any health problems early on, which facilitates prompt interventions and improved chronic disease management.

Site Insights

Based on site, the clip/strap/bracelet segment led the market with the largest revenue share of 51.19% in 2023 and is expected to grow at the fastest CAGR during the forecast period. The ability of smartwatches to track metrics like heart rate, respiration rate, and movement, in addition to their cloud and Bluetooth connectivity features, is projected to drive growth in this market. These bracelets can also be used to monitor blood pressure, oxygen concentration, sleep patterns, and physical activity.

In addition, the advantages of the clip, strap, and bracelet over other components are its lightweight nature, accessibility, visibility, and monitoring capabilities. The development of wrist-worn devices that provide pleasurable fitness tracking experiences by tracking activity levels, skin temperatures, and heart rates is one reason for this expansion.

The shoe sensors segment is expected to gain a significant market share in the China market. In the realm of wearable medical technology, shoe sensors have become a promising technology. These sensors, when incorporated into footwear, can offer insightful data and health information that can help create a more complete picture of a person's general health. These sensors are helpful for monitoring and detecting illnesses including Parkinson's disease, stroke, and other neurological disorders that impair mobility. They can also track walking patterns.

Grade Type Insights

Based on grade type, the consumer-grade wearable medical devices segment accounted the market with the revenue share in 2023, owing to their user-friendly features and emphasis on tracking personal fitness and health; the consumers really dig these devices. Convenience, affordability, and rising health consciousness are the market category's driving forces and are all major factors in its remarkable success. In general, consumer-grade wearables cost less than clinical-grade equipment.

The clinical wearable medical devices segment is anticipated to witness at the fastest CAGR during the forecast period.The rise is attributed to the growing requirement for monitoring technologies in healthcare settings. The increasing adoption of these devices for continuous patient monitoring, remote healthcare management, and integration with healthcare systems may be the reason for this industry's rapid growth. Clinical-grade wearable medical gadget sales are expected to rise significantly as more healthcare providers embrace cutting-edge technology to keep up with the industry's evolving needs. For instance, in September 2023, SIBIONICS, a prominent player in bio-wearable consumer electronics, introduces the SIBIO KS1 Continuous Ketone Monitoring (CKM) System, an innovative biometric wearable designed for ketone level measurement, featuring CE certification and serving as the world's inaugural all-in-one sensor and transmitter for real-time monitoring in ketogenic diet users.

Distribution Channel Insights

Based on distribution channel, the pharmacy segment held the market with the revenue share in 2023. This dominance is the result of pharmacies being easily accessible and giving clients a simple way to purchase these devices. Pharmacies hold a considerable revenue share in the wearable medical device industry because to their status as hubs for health and wellbeing and their ability to provide informed advice.

The online channel segment is anticipated to witness at the fastest CAGR over the forecast period. The increasing consumer preference for online shopping drives this growth. The convenience, accessibility, and diverse product offerings of e-commerce platforms fuel this trend.

Key China Wearable Medical Devices Company Insights

Some of the key players operating in the market include CONTEC Medical Systems Co. Ltd., Huawei Corporation, and Tencent Holdings Ltd.

• Contec Medical Systems Co Ltd is a company that develops produces, and markets medical diagnostic and monitoring devices. The product line offered by the company includes a series for blood pressure, blood oxygen, multi-parameter monitoring, in vitro diagnostics, EEG, breathing sleep, ECG, digital image, fetal monitoring, arteriosclerosis, telemedicine and health management, and home health products

• Huawei Corporation has a strong presence in China's wearable medical devices industry. It operates as a product manufacturer and distributor for international information and communications technologies. The company provides its consumers with technology items such as networking, phones, tablets, and mobile internet in fields including digital health, mHealth apps, and smart healthcare

Cyrcadia Asia Limited, Wuhan UN-medical Technology Co. Ltd & Xiaomi Technologies are some of the other market participants in the China market.

• Cyrcadia Asia Limited is a company that manufactures wearable innovative bra implants designed to detect breast cancer promptly. The wearable technology developed by the firm consists of a sensor patch worn beneath a female bra for two hours every month. By a mobile app, women may monitor their breast health and the metabolic changes in the mammary gland linked to cancer sickness, as supported by scientific data

• Thalys Medical Technology Inc. is a provider of early-stage medical intensive care. The company specializes in research and development, manufacture, and sales of autonomous in vitro diagnostic goods and intense marketing services for medical testing and agents for in vitro diagnostic products. Its in-service medical inspection-heavy marketing and services provide the lion's share of income

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. China has continuously pursued ways to innovate its medical device regulatory framework. The NMPA and NHC released the revised Good Clinical Practice for medical device trials in response to specific regulations mentioned in the 2021 regulation

• In September 2022, Tencent Holdings, the massive Chinese internet company, introduced an innovative digital hearing device that utilizes artificial intelligence (AI) technology. Shenzhen Eartech Company, a manufacturer of hearing aids, and Tencent Ethereal Audio Lab collaborated to develop the new AI-powered product

• In April 2019, Medtronic unveiled the MedTech Innovation Accelerator in Shanghai. The new collaborative innovation can address China's unmet clinical requirements, support MedTech entrepreneurs worldwide, and accept its initial batch of portfolio companies.

China Wearable Medical Devices Market Report Scope

China Wearable Medical Devices Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the China wearable medical devices market report based on product, site, application, grade type, and distribution channel.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Diagnostic Devices

    • Vital Sign Monitor

      • Heart Rate Monitors

      • Activity Monitors

      • Electrocardiographs

      • Pulse Oximeters

      • Spirometers

      • Blood Pressure Monitors

      • Others

    • Sleep Monitoring Device

      • Sleep Trackers

      • Wrist Actigraphs

      • Polysomnographs

      • Others

    • Electrocardiographs Fetal & Obstetric Devices

    • Neuromonitoring Devices

      • EEG

      • EMG

      • Others

  • Therapeutic Devices

    • Pain Management Devices

      • Neurostimulation Devices

      • Others

    • Insulin Monitoring Devices

      • Insulin Pumps

      • Others

        • Autoinjectors

        • Other Insulin Devices

    • Rehabilitation Devices

      • Accelerometers

      • Sensing Devices

      • Ultrasound Platform

      • Others

    • Respiratory Therapy Devices

      • Ventilators

      • CPAP

      • Portable oxygen concentrators

      • Others

• Site Outlook (Revenue, USD Million, 2018 - 2030)

  • Handheld

  • Headband

  • Strap, Clip, Bracelet

  • Shoe Sensors

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Sports & Fitness

  • Remote Patient Monitoring

  • Home Healthcare

• Grade Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Consumer-grade Wearable Medical Devices

  • Clinical Wearable Medical Devices

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmacies

  • Online Channels

  • Hypermarkets