The size of the Asia-Pacific Respiratory Monitoring Devices Market has been estimated at USD 4.05 billion in 2022. It is projected to reach USD 6.83 billion by 2027, at a CAGR of 11% during the forecast period from 2020 to 2025.
Y-O-Y growth in the prevalence of respiratory diseases, the older population, the high prevalence of smoking, rising urbanization and pollution levels, the rising incidence of preterm births, and lifestyle, increase in the number of smokers, a high incidence of respiratory illnesses, rising pollution levels, and the development of new technology changes are a few of the primary drivers to the APAC respiratory monitoring devices market. The Asia Pacific Respiratory monitoring device market is primarily driven by factors such as rising investment in healthcare expenditure, growing expansion of advanced technologies, availability of low-cost respiratory monitoring devices, increasing chronic obstructive pulmonary disease (COPD), Asthma and tuberculosis patients, and high incidence of tobacco smoking and respiratory diseases.
High development opportunities in this region, healthcare decentralization, and the advancement of smaller equipment are all projected to create substantial growth possibilities for companies in the respiratory home healthcare market. Growing economic growth and urbanization in Asian countries and local government initiatives such as healthcare awareness programs and collaborations with non-governmental organizations to raise healthcare awareness contribute to a shift in demand patterns that are propelling the respiratory monitoring market in the Asia-Pacific region. In the near future, the market for respiratory monitoring devices is likely to be driven by the rising prevalence of chronic respiratory illnesses. The need for respiratory monitoring devices will increase due to chronic respiratory illnesses such as asthma, bronchitis, pneumonia, and other infections caused by bacteria and viruses. Major opportunities exist in the global respiratory monitoring device market, such as lower product and treatment costs, development of new technologies, and so on.
The Asia-Pacific Respiratory Monitoring Devices Market growth has been restricted to some part by a lack of awareness, which has resulted in a huge underdiagnosed and undertreated population and the adverse effects of some respiratory care equipment on newborns. In addition, the high cost of equipment and unfavorable regulatory revisions are anticipated to hinder market expansion in the Asia-Pacific area for respiratory monitoring. Cost and operation difficulties for using devices, poor reimbursement scenario are all factors challenging the growth of the respiratory monitoring devices market. In addition, the market for respiratory monitoring devices is being held back by the length of time it takes for products to be approved.
This research report on the APAC respiratory monitoring devices market has been segmented and sub-segmented into the following categories:
By Diagnostic Devices:
By Monitoring Devices:
Geographically, the APAC market is expected to rise to the top to dominate the global market in a few years. Increased interest for key players and growing opportunities are major contributors to this region’s high CAGR. The Asia-Pacific area is responsible for a wide and diverse population, with social, economic, and environmental variables influencing respiratory health. Despite this diversity, air pollution, infection, and tobacco smoking are the most common causes of respiratory death and morbidity. As a result, these factors are projected to boost the market growth. Due to the presence of a large pool of respiratory patients, rising healthcare expenditure, rapidly developing healthcare infrastructure, rising per capita income, growing middle-class population, and growing prevalence of tobacco smoking in this region, the Asia Pacific market is expected to grow at the fastest CAGR during the forecast period.
APAC quickly establishes itself as a medical tourism hotspot and is one of the fastest-growing markets for medical treatments and products. Medical tourists have been drawn to APAC nations, notably India and China, because of their low infrastructure and treatment costs, as well as the availability of highly trained physicians. For example, Adhero, a new linked smart gadget for metered-dose medicines, was launched by an Indian pharmaceutical business. This groundbreaking device is designed to assist patients with chronic respiratory diseases to track their MDI use and improve medication adherence.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC respiratory monitoring devices market profiled in this report are Covidien GE Healthcare, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc, Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Access Pharmaceuticals Inc., Sirnaomics Inc., and Traversa Therapeutics Inc.
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