India Respiratory Care Devices Market Analysis, Forecast and Opportunities, 2017-2021 & 2022-2027 | News
DUBLIN, January 31, 2022 /PRNewswire/ — India’s Respiratory Care Devices Market, By Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables & Accessories), By Indication, By End User, By Region, By Company, Forecast and opportunities, fiscal year 2027” report has been added to from ResearchAndMarkets.com offer.
The Indian market for respiratory care devices stood at $1005.50 million in fiscal year 2021 and is expected to grow at a steady rate of 4.56% over the forecast period owing to the growing geriatric population which is susceptible to various chronic respiratory disorders.
Additionally, the sudden onset and spread of the COVID-19 pandemic across the country with an acute shortage of several respiratory care devices such as ventilators, oxygen concentrators, pulse oximeters, among others, have significantly increased the demand for different respiratory care devices, thus fueling the growth of the market. .
Also, cities like Ghaziabad, Bulandshahr, Kanpur, etc. being among the most polluted cities in the world have increased the prevalence of asthma, respiratory problems, lung cancer, among others. This in turn has increased the pool of patients suffering from various respiratory conditions, thereby positively influencing the growth of the market over the next five years.
In addition, supportive government policies such as 100% influx of FDI in healthcare, launch of production-linked incentive program, launch of Make in India and Aatmanirbhar Bharat programs are expected to positively influence the growth of India respiratory care devices market over the forecast period. As well, India is becoming a medical tourism destination with many medical tourists visiting the country from all over the world. This, in turn, is expected to drive the growth of the market over the coming years.
The Indian respiratory care devices market is segmented on the basis of product type, indication, end-user, region and company. Based on product type, the market can be categorized into therapeutic devices, monitoring devices, diagnostic devices, and consumables and accessories. The therapeutic devices segment led the market in fiscal year 2021 with a share of approximately 34.25%.
This can be attributed to their widespread use in the treatment of various chronic diseases. Therapeutic devices can further be segmented into ventilators, oxygen concentrators, PAP devices, nebulizers, humidifiers, inhalers, and others. The demand for ventilators and oxygen concentrators has increased significantly in fiscal year 2021 due to the pandemic crisis and surge in COVID-19 cases across the country.
Fiscal 2021 saw a high demand for ventilators during the first wave of the pandemic in the country, while until June 2022 there was a very high demand for oxygen concentrators in the country.
Large companies develop cutting-edge technologies, receive approvals from regulatory bodies, and release new products in order to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new product development. For example, in April 2020, Philips has launched the PHILIPS RESPIRONICS E30 FAN. This has not only helped the company diversify its product portfolio, but has also helped healthcare providers deliver top quality care to their patients.
Key players operating in the India respiratory care devices market are
- India Medtronic Private Limited
- ResMed India Pvt. ltd.
- Philips Health India
- Masimo Medical Technologies India Private Limited
- Getinge India Pvt Ltd
- Draeger India Private Limited
- Hamilton Medical India Private Limited
- Fisher & Paykel Healthcare India Pvt Ltd
- Wipro GE Healthcare Pvt Ltd
- Hill-Rom India Private, Ltd.
- BPL Medical Technologies Private Limited
- Becton, Dickinson and Company (CareFusion Corp.)
- Opto Circuits India Ltd.
- Omron Healthcare India Pvt. ltd.
- Nihon Kohden India Pvt. ltd.
Goal of the study:
- To analyze the historical market size growth of India respiratory care devices market from FY 2017 to FY 2020.
- To estimate and forecast the market size of India Respiratory Care Devices Market from FY 2021 to FY 2027 and growth rate till FY 2027.
- To classify and forecast the India respiratory care devices market based on product type, indication, end-user, company, and regional distribution.
- To identify the dominant region or segment in the Indian respiratory care devices market.
- Identify the drivers and challenges of India Respiratory Care Devices Market.
- Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Indian Respiratory Care Devices Market.
- To identify and analyze the profile of major players operating in the Indian respiratory care devices market.
- Identify the key sustainable strategies adopted by market players in the India Respiratory Care Devices Market.
Years considered for this report:
- Historical years: FY2017- FY2020
- Base year: FY2021
- Estimated year: FY2022
- Forecast Period: FY2023-FY2027
India Respiratory Care Devices Market, By Product Type
- Therapeutic devices
- Monitoring devices
- Diagnostic devices
- Consumables & Accessories
India Respiratory Care Devices Market, By Indication
- Chronic obstructive pulmonary disease
- Infectious diseases
- Sleep Apnea
India Respiratory Care Devices Market, By End User
- Hospitals & Clinics
- Ambulatory care centers
India Respiratory Care Devices Market, By Region
For more information about this report visit https://www.researchandmarkets.com/r/arpqs1
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