The Latin America, Middle East and Africa Lung Monitoring Devices Market would witness market growth of 9.0% CAGR during the forecast period (2023-2030).
According to the World Health Organization, asthma is a chronic lung illness that affects people of all ages. It is a condition that makes breathing difficult due to inflammation and muscular stiffness around the airways. Coughing, wheezing, breathing problems, and pressure in the chest are some of the symptoms.
The market is projected to expand in the coming years due to the rise in asthma patients. The rising frequency of various respiratory disorders is expected to contribute to the need for lung monitoring devices growing rapidly in the upcoming years. The alarming increase in the prevalence of respiratory infections, asthma, and chronic obstructive pulmonary disease (COPD) worldwide fuels the market. The main causes of the increased respiratory disease cases among the region’s population are rising pollution levels, increasing demand for tobacco use, and changing consumer lifestyles.
The UAE has a robust healthcare infrastructure since its economy is one of the most developed and varied in the Middle East. The UAE government has made building a top-notch healthcare infrastructure a primary priority, which has led to the sector's rapid development and expansion in recent years. Given that public spending makes up more than two-thirds of total healthcare spending, one of the main factors influencing the growth of the UAE's healthcare sector is the government's commitment to the industry.
Healthcare is an important priority for the UAE government, according to Vision 2040, and the nation will continue to be a desirable place for the establishment of a regional distribution center for healthcare services. Additionally, the demand for medical equipment in the UAE is expected to increase at a rate that is generally similar to that of other industries. There are plenty of economic opportunities for foreign companies, given that the UAE produces relatively little medical equipment domestically. These aspects are likely to surge the growth of the market in the LAMEA region.
The Brazil market dominated the LAMEA Lung Monitoring Devices Market by Country in 2022; thereby, achieving a market value of $93.7 million by 2029. The Argentina market is showcasing a CAGR of 9.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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