Asia Pacific Pulmonary Devices Market Analysis and Opportunities by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027Asia Pacific Pulmonary Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Therapeutic Devices, Consumables and Accessories, Diagnostic Devices, and Monitoring Devices); Application (Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, Asthma, Infectious Diseases, and Others); and End User (Hospitals, Homecare Settings, and Ambulatory Care Centers) and country
- Report Date : Sep 2020
- Report Code : TIPRE00014000
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 130
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; it is estimated to grow at a CAGR of 10.6% from 2020 to 2027.
Increasing prevalence of respiratory diseases and growing number of COVID-19 in the region are the key factors driving the growth of pulmonary devices. However, unfavorable reimbursement scenario associated with pulmonary devices is the major factor hindering the market growth in Asia Pacific.
Pulmonary or respiratory devices are used to remove mucus and secretions from the airways or the respiratory tract. These medical devices are focused on diagnosis, control, treatment, management, and evaluation of the problems associated with respiratory tract.
Manufacturers in the pulmonary devices market are ramping up their focus on the adoption of various strategies, such as product innovation, product launches, and approvals, as well as R&D investment for advancements in ventilators, along with merger and acquisition as their developmental strategies to maintain the competitive environment in the market.
For instance, in April 2020, the Indian government, gave tenders to two companies: Delhi-based Skanray Technologies and AgVa Healthcare in Noida to manufacture 30,000 ventilators in six weeks and 10,000 ventilators in a month, respectively, by the end of May, 2020. These include large-scale automobile and Information Technology (IT) companies as well as universities and independent startups, and even National Aeronautics and Space Administration (NASA)-licensed firms replicating the Ventilator Intervation Technology Acessible Locally (VITAL) prototype developed by NASA’s Jet Propulsion Laboratory. These ventilators are mostly low-cost and affordable equipments that complement more expensive ventilators available in fewer numbers.
Also, in response to better manufacturing of the ventilator at mass scale, Mahindra & Mahindra undertook production of ventilators. Skanray’s research and development (R&D) team, explained the design and manufacturing process, technical specifications, functionality and risks of the ventilator to help Mahindra better understand the device and its complexities. These initiatives drives the growth of the market in Asia Pacific in the forecasted period.
Asia Pacific countries are expecting to witness massive challenges due to increasing COVID-19
In order to manage the mass spread of the disease 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. Due to rise in cases of COVID-19 pandemic, the government in Asia pacific countries such as in India, Australia and 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.
Rest of the Asia Pacific Pulmonary Devices Market, Revenue and Forecast to 2027 (US$ Mn)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
ASIA PACIFIC PULMONARY DEVICES MARKET SEGMENTATION
By Type
- Therapeutic Devices
- Consumables and Accessories
- Diagnostic Devices
- Monitoring Devices
By Application
- Chronic Obstructive Pulmonary Disease (COPD)
- Sleep Apnea
- Asthma
- Infectious Diseases
- Others
By End User
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
By Country
- India
- China
- Japan
- South Korea
- Australia
Company Profiles
- Medtronic
- ResMed
- Hamilton Medical
- Koninklijke Philips N.V.
- Getinge AB
Asia Pacific Pulmonary Devices Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3,661.53 Million |
| Market Size by 2027 | US$ 8,196.82 Million |
| Global CAGR (2020 - 2027) | 10.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies - Asia Pacific Pulmonary Devices Market
- Medtronic
- ResMed
- Hamilton Medical
- Koninklijke Philips N.V.
- Getinge AB
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