According to Goldstein Research, “Growth in Asia Pacific patient monitoring system market is the result of patient access scheme or risk sharing scheme in Asia. Patient access scheme are the agreement between healthcare payers and pharmaceutical industry to lower the cost of expensive treatment. There are about 4 schemes in South Korea, 6 schemes in New Zealand and 100 schemes in Australia and 25 in Asia Pacific. More than half scheme is related to treatment of cancer diseases in Asia Pacific.
The APAC Patient Monitoring System Market is segmented on the basis of devices and end users. End users are further bifurcated into medical centers, primary healthcare and community healthcare centers, laboratories, diagnostic centers and home-based users in which medical centers dominated the segment by around 35% share in 2016. This is due to increasing adoption of various devices in medical centre.
Global patient monitoring system market is expected to reach USD 28.01 billion by 2024 from USD 14.21 billion in 2016 at a CAGR of 5.9% over the forecast period in which APAC patient monitoring system market holds 20% market share in 2016. APAC patient monitoring system market is anticipated to reach USD 5.06 billion by 2024 from USD 2.84 billion in 2016 at a promising CAGR of 10.49% over the forecast period.
Geographically, China is the second largest contributing country following Japan in APAC Patient Monitoring System Market. China holds around 25% market share of APAC Patient Monitoring system market in 2016.
Upsurge in number of geriatric population: Major boost
Rise in number of geriatric population is the major boost in APAC patient monitoring system market as increasing number of ageing population is leading to various diseases such as chronic diseases. Around 14.21 million chronic cases were registered in 2016 in Asia Pacific in which around 7 million people who were above 65 years of age, died because of cancer. So, patient monitoring devices are made to control chronic diseases especially in ageing population.
Advancement in technological devices of APAC patient monitoring system: Innovations
Several new technologies are made by manufacturers of APAC Patient Monitoring System market such Leaf life healthcare has recently launched wireless patches to help patients in monitoring diseases, similarly another company Techno Medica co. ltd has launched blood gas analyzer in 2016.
“Asia Pacific (APAC) Patient Monitoring System Market Outlook 2024” contains detailed overview of the APAC Patient Monitoring System Market in terms of market segmentation by devices and end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
APAC Patient Monitoring System Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Omron healthcare Inc. Nihon Kohden, Abbott laboratories, Philip healthcare, Medtronic Plc., Roche diagnostic, Siemens healthcare, Lifewatch, Honeywell International etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the APAC Patient Monitoring System Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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