Asia-Pacific Digital Respiratory Medical Device Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Asia-Pacific Digital Respiratory Device Market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
COVID-19 to Give Massive Boost to Digital Respiratory Device Market in the Asia Pacific
The sudden breakout of the COVID-19 pandemic in China and its spill-over to the other countries in the Asia-Pacific has induced the demand for Digital Respiratory Medical Devices at an exponential rate. The rise in death toll and the number of infected individuals would push the governments and private healthcare players toward the adoption of more sophisticated respiratory medical devices used in the detection, prevention, and monitoring of such viral pandemics. Therefore, the demand is expected to proliferate in the forthcoming years as the precautionary healthcare spending in all the countries is set to snowball to a considerable extent.
According to MarkNtel Advisors’ research report titled “Asia Pacific Digital Respiratory Device Market Analysis, 2020”, the Asia-Pacific Digital Respiratory Device Market is anticipated to grow at a CAGR of around 30% during 2020-25. Due to the advent of new technological advancements in emerging economies coupled with bolstering public awareness the healthcare expenditure has been increasing. Also, the surging use of digital medical technology and devices by patients is expected to further escalate the demand for digital respiratory medical devices market in the Asia-Pacific region.
Increasing Chronic Respiratory Diseases is Amplifying the Growth in the Region
COVID-19 has suddenly shocked the economies in the APAC region where the healthcare infrastructure is not comparable to the global benchmarks. The sudden surge of the pandemic has increased the patients suffering from respiratory ailments. China is considered has the largest number of incidences of chronic obstructive pulmonary diseases owing to the rising aging population. As of Jan 2020, around 41.3% population in China and the Province of China were aged over 60 years of age according to United National (UN). Owing to alarming levels of air pollution, exposure to chemicals, aging population, rising smoking habit in inhabitants, etc., the rate of frequency of diseases such as chronic pulmonary diseases (COPD) and asthma is growing among the population in the region. Therefore, the therapeutic devices segment is leading the market by the largest market share as stated in the MarkNtel Advisors’ research report “Asia-Pacific Digital Respiratory Device Market Analysis, 2020”.
India Showing Progressive Growth in the Region
Among India’s 1.31 billion people, about 6% of children and 2% of adults have asthma. Due to rapid urbanization and continuous increasing population awareness, the usage of digital medical devices has increased over the years. Moreover, with the widespread presence of other respiratory diseases, such as chronic bronchitis, emphysema, and COPD, the Indian government is taking initiatives to mitigate the respiratory ailments with improving medical facilities in the country.
According to MarkNtel Advisors, the key players with a considerable market share in the Asia-Pacific Digital Respiratory Device Market include Philips, 3M Healthcare, Astra Zeneca Plc., Novartis AG, GE Healthcare, Masimo Corporation, Cipla Ltd., Resmed Ltd., Teva Pharmaceuticals Industries Ltd., Acorda Therapeutics, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Asia-Pacific Digital Respiratory Device Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of units sold (Thousand).
Q. What would be the growth rate or CAGR of the Asia-Pacific Digital Respiratory Device Market during 2020-25?
A. The growth rate of the Asia-Pacific Digital Respiratory Device Market during 2020-25 is forecast to be around more than 30%.
Q. Who are the key competitors or players operating in Asia-Pacific Digital Respiratory Device Market?
A. Philips, 3M Healthcare, Astra Zeneca Plc., Novartis AG, GE Healthcare, Masimo Corporation, Cipla Ltd., Resmed Ltd., Teva Pharmaceuticals Industries Ltd., Acord Therapeutics are few of the leading players in the Asia-Pacific Digital Respiratory Device Market.
Q. Which Application segment would emerge as an opportunity area for players in Asia-Pacific Digital Respiratory Device Market?
A. The asthma segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which end-user would emerge as an opportunity area for players in Asia-Pacific Digital Respiratory Device Market?
A. The hospital sector grabbed a significant market share continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and suppliers of the Asia-Pacific Digital Respiratory Device Market.