Market Trends of Asia-Pacific Respiratory Monitoring Industry
Pulse Oximeters Segment is Expected to Witness Growth Over the Forecast Period
- Pulse oximetry is a noninvasive method for monitoring a person's oxygen saturation. Pulse oximeters hold a significant market share due to the accurate reliability and speed of monitoring patients with respiratory diseases. The pulse oximeter is used to manage chronic obstructive pulmonary disease (COPD) and other lung conditions, likely promoting the market growth.
- For instance, as per the article published by the International Journal of Chronic Obstructive Pulmonary Disease, in September 2022, the prevalence of COPD in China was estimated as 13.7%, equating to approximately 99.9 million patients with COPD. Thus, the demand for pulse oximeters increases due to the high burden of respiratory disease, driving the market's growth.
- Additionally, the increasing initiatives such as product launches, acquisitions, and collaborations by the government and market players are also expected to contribute to the market's growth.
- For instance, in October 2022, GX Foundation launched a second phase of pulse oximeters distribution throughout the Hong Kong community. GX partnered with the Collaborating Centre for Oxford University and the Chinese University of Hong Kong for Disaster and Medical Humanitarian Response (CCOUC) to distribute pulse oximeters to 20 organizations. This enabled caregivers to provide home-based monitoring of older adults and COVID-19 patients, strengthen the independence and effectiveness of home-based care, and alleviate the burden on hospitals during difficult times.
- Such an initiative is expected to drive the market's growth over the forecast period. Hence, factors such as accurate reliability and speed of monitoring of patients are expected to drive pulse oximeter segment growth over the forecast period.
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India is Expected to Hold a Significant Share of the Market Over the Forecast Period
- India's respiratory monitoring market is expected to hold significant growth over the forecast period owing to factors such as the growing burden of respiratory disorders such as chronic obstructive pulmonary disorders (COPD), asthma, and sleep apnea among the population. In addition, the novel technological advancements and increasing application of respiratory devices in homecare settings are all expected to boost the market growth over the forecast period. For instance, as per a meta-analysis published by the Lung India journal in August 2022, it has been observed that the pooled prevalence of asthma was 7.9% among the Indian population.
- In addition, asthma was higher among boys (8%) than girls (5.9%). Furthermore, according to the World Health Organization (WHO), Tuberculosis (TB) statistics for India for 2021 estimated an incidence figure of 2.6 million cases. This is a rate of 188 per 100,000 population. Thus, the high burden of respiratory disease among the population is expected to increase the demand for respiratory monitoring, which is further anticipated to augment the segment.
- Additionally, the increasing initiatives, product launches, and strategies by market players in India are expected to contribute to the market's growth. For instance, in November 2021, Cipla Limited launched Spirofy, India's pneumotach-based portable, wireless Spirometer, on World COPD Day. Thus, owing to the above factors, the segment is expected to show a healthy growth rate over the forecast period. Thus, all aspects above are expected to boost the market in the country over the forecast period.
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