The Asia-Pacific respiratory device market was valued at around $6.1 billion in 2018 and is estimated to grow at a CAGR of around 6.7% during the forecast period.
The rising prevalence of chronic respiratory diseases, increasing geriatric population, and technological advancement are the major factors that augmenting the growth of respiratory device market in North America. The Asia-Pacific respiratory devices market presents future opportunities for growth as the prevalence of respiratory diseases such as asthma and COPD in emerging economies such as India and China. In addition, increasing the geriatric population specially in Japan is another major reason for the growing market.
The Asia-Pacific respiratory device market is segmented on the basis of product and end-user. The respiratory product segment is further sub-segmented into therapeutic devices, diagnosis and monitoring devices, and consumables and accessories. The therapeutic devices segment is estimated to dominate the regional market and is also anticipated to grow at the fastest growth rate over the forecast period. The high cost of therapeutics device and significant demand for continuous positive airway pressure (CPAP) devices and masks, ventilator, oxygen concentrator, and oxygen hoods contribute majorly to the segmental growth of the market for therapeutic devices. Based on end-user, the market is analyzed into hospitals and clinics, and home care.
Additionally, the market is characterized by the presence of several players that are providing respiratory devices within and outside the region. Some of the key players of the market include ResMed Corp., Cipla Ltd., GlaxoSmithKline PLC, 3M Co., Novartis AG, Omron Healthcare Inc., and others. The market players are adopting the strategy of merger & acquisition, product launch and expansion of their manufacturing facilities to increase their market share. For instance, In January 2018 Omron Healthcare Introduces Avail, a Wireless Device for Drug-Free Pain Relief. In January 2019 Omron Healthcare officially launches HeartGuide the first wearable blood pressure monitor, with new digital health service, HeartAdvisor.
The Report Covers:
- A comprehensive research methodology of the Asia-Pacific respiratory device market.
- A detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific respiratory device market.
- Insights about market determinants which are stimulating the Asia-Pacific respiratory device market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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Source: Benzinga
