Saturday, 20 April 2024
Remote Patient Monitoring Devices market in Asia Pacific is expected to grow from US$ 153.78 Mn in the year 2018 and is expected to reach US$ 347.15 Mn by 2027 growing at a CAGR of 9.7% over the forecast period.
The growth of the market is driven by the factors such as rise in economy of these countries, the living standard of people is also increasing attributed to the increase in per capita income and spending capability, the increasing prevalence of the cardiovascular disease population in India and China are likely to boost the growth of the remote patient monitoring devices in the Asia Pacific during the forecast period.
The healthcare industry is undergoing rapid transformations since a few years now. Various technological improvements have been witnessed in the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.
The Asia-Pacific Remote Patient Monitoring Devices market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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According to the World Health Organization, in 2014, 230 million people had cardiovascular disease (CVD) in China. Furthermore, by 2030, the number is predicted to increase by 50% considering aging Chinese population and growth. Furthermore, by 2030, cardiovascular disease will cost $ 1,044 billion to Chinese government. Thus, increasing geriatric population and related chronic diseases are expected to drive the sales of patient monitoring devices thereby propelling the growth of Asia Pacific remote patient monitoring devices market over the forecast years .
These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for Asia-Pacific Remote Patient Monitoring Devices in the market.
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