Asia-Pacific Respiratory Monitoring Market - Growth, Trends, and Forecast (2019 - 2024)
Asia-Pacific is the fastest growing market at a global level, owing to the increasing purchasing power of patients in countries, such as India and China. The demand for better healthcare in the Asia-Pacific region is due to the increasing respiratory diseases and the growing aging population. Growing economic growth and urbanization of Asian countries, initiatives taken by the local governments, such as healthcare awareness programs and collaborations with the NGO’s to create healthcare awareness, are contributing toward the change in demand patterns, which are driving the respiratory monitoring market in the Asia-Pacific region. The other factors also include rise in the number of smokers, high prevalence of respiratory diseases, and the growing pollution levels and development of advanced technologies. On the other hand, the high cost of devices and unfavorable regulatory reforms are likely to impede the market growth for respiratory monitoring market in the Asia-Pacific region.
Scope of the Report
Respiratory monitoring is performed by different types of respiratory monitors. It is a device used to monitor the respiration rate of the patient. It can be used by hospitals and home care settings. Patches will be placed on the body to measure heart rate and respiration, by transmitting the real-time data with the help of leads attached to a monitor that displays and logs values for various time points. A monitor will be incorporated with an alarm to signal when the values are critically low. Advancements and improvements have occurred in respiratory monitoring over the past decade, in both technology and a better understanding of pathophysiologic characteristics of respiratory failure. Vital goals of respiratory monitoring are to alert the patients by giving alarms, to indicate a significant change in the patient's condition.
Key Market Trends
Spirometers to Dominate the Market over the Forecast Period
The market is segmented on the basis of type of device and geography. Type of device is further divided into Spirometers, Peak Flow Meters, Sleep Test Devices, Gas Analyzers, Pulse Oximeters, and Capnographs.
The spirometer segment is anticipated to hold a significant market share during the forecast period. There are various types of spirometers, such as desktop, hand-held, and tabletop spirometers. Clinics and hospitals are extensively using tabletop spirometers, and home care settings are using a hand-held spirometer, owing to their convenience and accessibility. The Asia-Pacific region is home for a large heterogeneous population whose respiratory health is influenced by the social, economic, and environmental factors. Despite this variability, most of the prevalent causes of respiratory mortality and morbidity are air pollution, infection, and tobacco smoking.
The market comprises of major market players, who are focusing on R&D, in order to form a stable and safe formulation. The market has been noticing technological developments on a large scale, for the past couple of years. Some of the market players are Medtronic, Draegerwerk, GE Healthcare, Maquet, Philips Healthcare, ResMed, Siemens Healthcare, and Teijin Pharma.
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