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Asia Pacific Ventilator Market Forecast 2019-2028

The Asia Pacific ventilator market is anticipated to record a CAGR of 8.39%, during the forecast period of 2019 to 2028. Significant technological advancements within developing countries, improvements in their healthcare systems, and rapid urbanization rates are primarily fuelling market growth.

The Asia Pacific ventilator market growth is determined by the assessment of Japan, Vietnam, China, Indonesia, India, Australia & New Zealand, Thailand, and South Korea. India demonstrated a high growth rate in the global ventilator market before the coronavirus outbreak. The country's increased expansion rate was attributed to high manufacturing potentials, investments in the healthcare division, and increasing adoption rates of medical devices. However, India does not have specific regulations for the manufacture and commercialization of ventilators. Despite the absence of protocols, the country has a monitored system for authorizing the import and sale of the Food and Drug Administration (FDA) and CE-marked medical devices.
Moreover, India requires an additional 50,000 ventilators, due to the impact of the coronavirus pandemic. As a result, the country has adopted numerous strategies to battle the shortage. For instance, the Directorate General of Health Services (DGHS) of India has established a technical association to assess ventilators with diverse specifications, that can be supplied within a minimal period. Several domestic enterprises have also been ordered to bolster their ventilator production capacities, to overcome the demand and supply gap. Therefore, these factors are projected to augment market growth in the region.

Some of the prominent companies in the market include Aerobiosys Innovations Private Limited, Shenzhen Mindray Bio-Medical Electronics Co Ltd, Penlon Ltd, Resmed, Getinge AB, etc.

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Asia Pacific Ventilator Market Forecast 2019-2028
Published By :Inkwood Research
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