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The Asia-Pacific blood flow measurement devices market is estimated to record a CAGR of 9.18% during the forecast period, 2021-2028. The region encompasses around 60% of the global population. Consequently, the number of people with chronic disorders is high, especially in India and China. The market is expected to have huge potential due to growing awareness of the importance of early screening propelled by government and non-government organizations.
India, Australia & New Zealand, Indonesia, Thailand, China, Indonesia, South Korea, Japan, and Rest of Asia-Pacific are evaluated for the Asia-Pacific blood flow measurement devices market growth analysis. Japan has a refined healthcare infrastructure. It is also inclined to technologically advanced products. In addition, the country is a technological hub for research and development due to the presence of various healthcare companies and universities. Moreover, aging demographics, favorable regulatory landscape, innovative research and development, rising international collaborations, and access to medical data make the country conducive for various start-ups. This further benefits market growth. The other major growth drivers include the surging aging population, universal health insurance coverage, and the growing number of chronic and lifestyle disease patients.
Indonesia is a favorable market for medical devices in the healthcare sector. Also, as per the International Trade Administration, more than 90% of the country's medical equipment and devices are imported. In addition, healthcare is increasingly prioritized by the government. As a result, the regional and central governments consistently upgrade healthcare facilities. Moreover, there has been an increase in the number of clinics and hospitals.
Furthermore, the government facilitates the involvement of the private sector in developing hospitals. This is set to increase the demand for sophisticated medical equipment like diagnostic equipment and patient monitoring devices.
Medistim ASA, Scinovia Corp, Getinge Group, Koninklijke Philips NV, etc., are among the leading companies in the market.
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