The Asia Pacific pulmonary devices market is expected to reach US$ 8,196.82 million by 2027 from US$ 3,661.53 million in 2019. The market is estimated to grow at a CAGR of 10.6 % during 2019-2027.
The growth of the pulmonary devices market in Asia Pacific is attributed to the increasing prevalence of respiratory diseases and growing number of COVID-19 cases. Factors such as unfavorable reimbursement scenario associated with the pulmonary device are likely to restrain the growth of the market. Additionally, strategic activities by manufacturers and increasing preference of home care products are likely to fuel the growth of the pulmonary devices market during the forecast period.
Pulmonary or respiratory devices are used to remove mucus and secretions from the respiratory tract. These medical devices are focused on diagnosis, control, treatment, management, and evaluation of the problems associated with respiratory tract.
The higher prevalence of respiratory disorder is mainly due to the decrease in size of the upper airway lumen in aging population. Millions of people suffer from various respiratory diseases; lung diseases are the most common medical conditions. Smoking, genetic factors, and infections are among the common factors responsible for respiratory diseases. Medical conditions such as asthma and chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer are among the significant public health burdens.
According to a new Tulane University study published in The Lancet, chronic obstructive pulmonary disease (COPD) is widespread in China with 8.6% of the country's adult population, i. e. almost 100 million people suffering from the chronic lung disease. Additionally, among India's 1.31 billion people, about 6% of children and 2% of adults have asthma.
The patients suffering with these respiratory disorders commonly experience difficulty in breathing. Thus, the availability of various pulmonary devices has helped improve the survival rates of the patients suffering from abovementioned medical conditions. The rising demand for various therapeutic devices among patients with respiratory disorders is expected to augment the growth of the market during the forecast period.
Asia Pacific countries are expected to witness massive challenges due to increasing COVID-19 cases. To manage the COVID-19 outbreak and provide efficient treatment to patients in the region, local medical device companies are ramping up the production of alternative respiratory systems in the Asian countries. The governments in India and Australia, among others are taking initiative to fulfill the demand of oxygen during COVID-19 pandemic. Thus, the development of these solutions is likely to create a positive impact on market growth in the Asian region.
In 2019, the therapeutic devices segment held the largest share in the market and is expected to retain its dominance till 2027. The multi-modal and multi-functional use of therapeutic devices for a wide range of pulmonary diseases is expected to account for the growth of the therapeutic devices segment over the coming years. On the other hand, the consumables and accessories segment is expected to witness fastest growth rate owing to the increasing trend for stockpiling of facial disposable masks to avoid viral transmission.
World Health Organization (WHO), Australian Bureau of Statistics, and World Heart Federation (WHF) are among the major secondary sources associated with the Asia Pacific pulmonary devices market report.
Reasons to Buy
The growth of the pulmonary devices market in Asia Pacific is attributed to the increasing prevalence of respiratory diseases and growing number of COVID-19 cases. Factors such as unfavorable reimbursement scenario associated with the pulmonary device are likely to restrain the growth of the market. Additionally, strategic activities by manufacturers and increasing preference of home care products are likely to fuel the growth of the pulmonary devices market during the forecast period.
Pulmonary or respiratory devices are used to remove mucus and secretions from the respiratory tract. These medical devices are focused on diagnosis, control, treatment, management, and evaluation of the problems associated with respiratory tract.
The higher prevalence of respiratory disorder is mainly due to the decrease in size of the upper airway lumen in aging population. Millions of people suffer from various respiratory diseases; lung diseases are the most common medical conditions. Smoking, genetic factors, and infections are among the common factors responsible for respiratory diseases. Medical conditions such as asthma and chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer are among the significant public health burdens.
According to a new Tulane University study published in The Lancet, chronic obstructive pulmonary disease (COPD) is widespread in China with 8.6% of the country's adult population, i. e. almost 100 million people suffering from the chronic lung disease. Additionally, among India's 1.31 billion people, about 6% of children and 2% of adults have asthma.
The patients suffering with these respiratory disorders commonly experience difficulty in breathing. Thus, the availability of various pulmonary devices has helped improve the survival rates of the patients suffering from abovementioned medical conditions. The rising demand for various therapeutic devices among patients with respiratory disorders is expected to augment the growth of the market during the forecast period.
Asia Pacific countries are expected to witness massive challenges due to increasing COVID-19 cases. To manage the COVID-19 outbreak and provide efficient treatment to patients in the region, local medical device companies are ramping up the production of alternative respiratory systems in the Asian countries. The governments in India and Australia, among others are taking initiative to fulfill the demand of oxygen during COVID-19 pandemic. Thus, the development of these solutions is likely to create a positive impact on market growth in the Asian region.
In 2019, the therapeutic devices segment held the largest share in the market and is expected to retain its dominance till 2027. The multi-modal and multi-functional use of therapeutic devices for a wide range of pulmonary diseases is expected to account for the growth of the therapeutic devices segment over the coming years. On the other hand, the consumables and accessories segment is expected to witness fastest growth rate owing to the increasing trend for stockpiling of facial disposable masks to avoid viral transmission.
World Health Organization (WHO), Australian Bureau of Statistics, and World Heart Federation (WHF) are among the major secondary sources associated with the Asia Pacific pulmonary devices market report.
Reasons to Buy
- It provides an understanding of the Asia Pacific, pulmonary devices market landscape and identifies pulmonary devices market segments that are most likely to guarantee a strong return.
- It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia Pacificpulmonary devices market.
- It helps efficiently plan merger and acquisition, and partnership deals in the pulmonary devices market by identifying market segments with the most promising probable sales.
- It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of pulmonary devices market performance of various segments pertaining to the Asia Pacific pulmonary devices market.
- It provides pulmonary devices market revenue forecast of the market based on various segments for the period from 2019 to 2027.
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Pulmonary Devices Market - Market Landscape
5. Asia Pacific Pulmonary Devices Market - Key Market Dynamics
6. Pulmonary Devices Market - Asia Pacific Analysis
7. Asia Pacific Pulmonary Devices Market Analysis and Forecasts To 2027 - By Type
8. Asia Pacific Pulmonary Devices Market Analysis and Forecasts To 2027 - By Application
9. Asia Pacific Pulmonary Devices Market Analysis - By End-User
10. Pulmonary Devices Market Revenue and Forecasts To 2027 - Geographical Analysis
11. Impact of COVID-19 Pandemic on Asia Pacific Pulmonary Devices Market
12. Company Profiles
13. Appendix
Companies Mentioned
- Medtronic
- ResMed
- Hamilton Medical
- Koninklijke Philips N.V.
- Getinge AB
