The Asia Pacific Lung Monitoring Devices Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030).
Monitoring is the process of assessing a patient's physiological function. It helps the medical professional make clinical judgments and choose the treatment method. The patient's response to medical interventions is also evaluated using this technique. Spirometers and other respiratory monitoring tools, including smart pulse oximeters, assist in keeping an eye on patients' respiratory health. The care of patients with respiratory conditions such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), and asthma depends extensively on lung monitoring. For home usage, intensive care, and in-patient settings, many high-tech lung monitoring devices are on the market.
For individuals with respiratory illnesses, lung monitoring devices are utilized to provide breathing gases. Some of the important variables projected to raise the demand for efficient breathing equipment for diagnosing and monitoring lung conditions are the rising prevalence of respiratory diseases, changing lifestyles, and an increase in pollution levels.
Chronic obstructive pulmonary disease (COPD), which claimed 3.23 million lives in 2019, is the third greatest cause of mortality globally, according to a WHO report from March 2023. In low- and middle-income nations (LMIC), about 90% of COPD fatalities in people under 70 occur. According to years of life with limitations adjusted for COPD, ill health is the sixth largest cause of death worldwide. Over 70% of COPD cases in high-income nations are caused by tobacco use. In LMIC, household air pollution is a significant risk factor for COPD, accounting for 30–40% of cases.
The World Health Organization reports that China has one of the world’s fastest-aging populations. By 2040, there will be 28% of individuals in China who are over 60 as a result of rising life expectancy and falling fertility rates. There were 176 million older persons aged 65 or older and 254 million older people aged 60 or over in 2019. In 2040, there will be 402 million people over the age of 60, or 28% of the world’s population. As the old, aged people are more at a rising of getting chronic disease such as asthma, COPD. Thus, the market is predicted to expand in the region with the increased old-age population.
The China market dominated the Asia Pacific Lung Monitoring Devices Market by Country in 2022; thereby, achieving a market value of $448.3 million by 2029. The Japan market is registering a CAGR of 6.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7.6% during (2023 - 2030).
Based on Product Type, the market is segmented into Spirometers, Capnographs, Pulse Oximeters, and Others. Based on End User, the market is segmented into Hospitals, Homecare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Lung Monitoring Devices Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Teleflex, Inc., Medtronic PLC, Masimo Corporation, Baxter International, Inc. (Hill-Rom Holdings, Inc.), Nihon Kohden Corporation, ICU Medical, Inc., Vyaire Medical, Inc. (Apax Partners LLP), Becton, Dickinson and Company, Koninklijke Philips N.V. and Propeller Health (ResMed, Inc.)
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