Market Research Report
Asia-Pacific Remote Patient Monitoring Devices Market to 2027 - Regional Analysis and Forecasts by Product, Application End User, and Country
|Published by||The Insight Partners||Product code||862066|
|Published||Content info||173 Pages
Delivery time: 1-2 business days
|Asia-Pacific Remote Patient Monitoring Devices Market to 2027 - Regional Analysis and Forecasts by Product, Application End User, and Country|
|Published: May 15, 2019||Content info: 173 Pages||
The Asia-Pacific Remote Patient Monitoring Devices market is expected to reach US$ 347.15 Mn in 2027 from US$ 153.78 Mn in 2018. The market is estimated to grow with a CAGR of 9.7% from 2019-2027.
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.
Chronic diseases, including heart disease, stroke, diabetes, and obesity, are the leading causes of death in the world and account for most of the nation's health care costs. According the Global Burden of Disease study estimate of CVD death rate of 272 per 100 000 population in India which is higher than the global average of 235 per 100 000 population. Moreover, Premature mortality in terms of years of life lost because of CVD in India increased by 59%, from 23.2 million (1990) to 37 million (2010). Similar trends for high prevalence of diabetes are present around other geographies of the Asia Pacific that include China, South Korea, and Australia. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation in 2017, south-east Asia is home to approximately one-fifth (19%) of the total diabetes population worldwide.
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.
Japan is anticipated to lead the adoptions of Remote Patient Monitoring Devices across the Asia Pacific region through the forecast period. Japan has entered the era of the fastest growing geriatric population, the growing ageing population has led to the transformation of the medical systems. The advanced health transition is seen in the country and is increasingly putting pressure on the sustainability of its health systems. The rise in the geriatric population is responsible for the increasing the burden of the diseases in the region.