Asia Pacific Respiratory Monitoring Market 2019-2023 Industry Share By GE HEALTHCARE, PHILIPS HEALTHCARE, SIEMENS HEALTHCARE, RESMED, COVIDIEN, DRAEGERWERK, TEIJIN PHARMA AND MAQUET

The Asia Pacific Respiratory Monitoring Market is expected to witness a CAGR of 17.5%, during the forecast period, 2018-2023. The Asia-Pacific is the fastest growing market at a global level because of the increasing purchasing power of patients in the countries such as India and China.

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Improvement in Healthcare Infrastructure and Increasing Health Awareness
The demand for the better healthcare in Asia-Pacific region is due to the increasing respiratory diseases and the growing of the aging population. The raising of the middle-class incomes, as a result of economic growth and urbanization, is also sustaining the demand for the proper healthcare infrastructure. There are also many of the healthcare awareness programs, which are aiming at strengthening the health systems, which determines to use the resources effectively in the urban areas. Both the public and private sector are developing the new care models of care, which supports and contributes to the changing demand patterns in the market and thus, contributes in driving the respiratory monitoring market.
The other factors also includes rise in number of smokers, high prevalence of the respiratory diseases, urbanization and the growing pollution levels and development of advanced technologies.

Key Developments in the Market
November 2017 - Teijin Pharma and SRETT signed an exclusive distribution agreement for the respiratory remote-monitoring device

Major players –
GE HEALTHCARE, PHILIPS HEALTHCARE, SIEMENS HEALTHCARE, RESMED, COVIDIEN, DRAEGERWERK, TEIJIN PHARMA AND MAQUET, amongst others.

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High Costs Associated With the Devices
Due to the high cost, the low-income countries cannot afford these respiratory equipment’s. Hence, the cost of acquiring the respiratory medical devices is very high in the APAC region, considering the fact that a single device is not sufficient per hospital. Hence, many of the hospitals and low-income countries are unable to buy these devices. Therefore, due to this increasing price the mass adoption is being restricted, which is likely to impede the growth of this market.
The other factor also includes the reimbursement concerns.

China to Dominate the Market
The Asia-Pacific market is expected to rise in the upcoming future, owing to the increase in the technological advancements. India and China back the lucrative market opportunity in Asia Pacific. The demand in the APAC region is primarily driven by the growth in the increasing cases of respiratory diseases, pollution, and habitual smoking, rising of the geriatric population; these are some of the factors that will fuel the growth of respiratory monitoring market.

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This release was published on openPR.