The size of the Asia-pacific Patient Monitoring market was estimated at USD 4.43 Billion in 2023. It is further expected to grow and be worth USD 6.78 Billion by 2028, registering a CAGR of 8.90% from 2023 to 2028.
The patient monitoring market in the APAC market is expected to be driven by the rising demand for continuous monitoring devices and the rising prevalence of chronic diseases such as diabetes, hypertension, cardiovascular disease, and others. Mobile cardiac telemetry devices, mobile personal systems, ambulatory wireless EEG recorders, and ambulatory event monitors are all driving growth in the APAC market. Furthermore, increased junk food consumption, lifestyle changes, and a lack of physical activity are expected to fuel growth, as these variables frequently lead to major health problems. To attract more customers, several manufacturers are working to improve digital technology.
The use of digital patient monitoring systems can result in significant cost reductions, lowering the overall cost of healthcare. The rising occurrences of chronic diseases due to lifestyle changes, the growing inclination for home and remote monitoring, and the ease of use and portability of devices are all driving market expansion. India is one of the top three countries having a high diabetes rate. With the shift to home care and preventive care, patient monitoring systems are becoming more popular. Patients can keep track of their health, and doctors can provide accurate diagnoses with the help of these devices.
Sensor-based wearable devices such as continuous glucose monitors, ECGs, and others are becoming more popular among patients and healthcare providers. These devices can track a patient's vital signs in real-time, subsequently being electronically related to their doctors and connected with the EHR. Monitoring systems aid in managing chronic diseases, including early warning signals and progress tracking, and are expected to see growing demand in the coming years. In addition, it can reduce the number of emergency room visits and hospitalizations, increasing the use of monitoring systems in the coming years.
The risks associated with invasive monitoring devices and the high cost of patient monitoring goods are expected to hinder the APAC patient monitoring market's expansion over the forecast period. Furthermore, in the near future, the lack of skilled healthcare specialists and increasing evaluating pressure on market companies may provide further challenges to the expansion of the APAC patient monitoring market.
This research report on the Asia Pacific patient monitoring market has been segmented and sub-segmented into the following categories:
Geographically, the rising prevalence of diabetes and heart disease in the Asia Pacific is likely to fuel rapid growth. In addition, the entrance of several new start-up enterprises into the region is expected to boost growth. Due to the largest number of smartphone users and deeper internet penetration in China and India, Asia Pacific is expected to grow rapidly. Because Indian diets are high in saturated fats and carbs, which provide more calories and sugar than the body requires, Indians are four times more likely to acquire diabetes than people in other regions. Other factors contributing to the increased prevalence of diabetes include sedentary lifestyles and obesity. Due to an increase in the senior population, climbing occurrences of heart disease, growing prevalence of diabetes, and an increase in the countries' purchasing power in this region, Asia Pacific has a significant market potential for growth.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC patient monitoring market are Abbott Laboratories, Masimo Corporation, Covidien, Drager Medical GmbH, GE Healthcare, Johnson & Johnson Inc., Mindray Medical, Mortara Instrument Inc., Natus, Nihon Kohden, Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited, and Welch Allyn.
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