The "India 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 & Opportunities, FY2027" report has been added to ResearchAndMarkets.com's offering.
The Indian Respiratory Care Devices Market stood at USD1005.50 million in FY2021 and is expected to grow at a steady rate of 4.56% during the forecast period on account of the growing geriatric population which is susceptible to various chronic respiratory disorders.
Additionally, the sudden outbreak and spread of the COVID-19 pandemic across the country with acute shortage of several respiratory care devices such as ventilators, oxygen concentrators, pulse oximeters, among others significantly increased the demand for different respiratory care devices thereby fueling the market growth.
Besides, cities like Ghaziabad, Bulandshahr, Kanpur, etc. being among the world's most polluted cities have increased the prevalence of asthma, breathing problems, lung cancer, among others. This in turn has increased the patient pool suffering from various respiratory ailments, thereby positively influencing the market growth over the next five years.
Furthermore, supportive government policies like 100% FDI inflow in healthcare, launch of production linked incentive scheme, launch of Make in India and Aatmanirbhar Bharat programs are expected to positively influence the growth of India respiratory care devices market during the forecast period. Also, India is emerging out as a medical tourism destination with a lot of medical tourists visiting the country from across the globe. This in turn is expected to spur the market growth over the next few years.
The Indian Respiratory Care Devices Market is segmented based on 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 & accessories. The therapeutic devices segment dominated the market in FY2021 with a share of around 34.25%.
This can be ascribed to their widespread use in treatment of various chronic diseases. The therapeutic devices can further be segmented into ventilators, oxygen concentrators, PAP devices, nebulizers, humidifiers, inhalers, and others. The demand for ventilators and oxygen concentrators significantly increased in FY2021 on account of the pandemic crisis and surge in COVID-19 cases across the country.
FY2021 witnessed high demand for ventilators during the first wave of pandemic in the country, while until June FY2022, there was a very high demand for oxygen concentrators in the country.
Major companies are developing advanced technologies, receiving approvals from regulatory bodies, and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, in April 2020, Philips launched the PHILIPS RESPIRONICS E30 VENTILATOR. This not only helped the company in diversifying its product portfolio but also helped the healthcare providers in providing superior quality of care to their patients.
The major players operating in the Indian Respiratory Care Devices Market are:
Objective of the Study:
Years considered for this report:
India Respiratory Care Devices Market, By Product Type
India Respiratory Care Devices Market, By Indication
India Respiratory Care Devices Market, By End-User
India Respiratory Care Devices Market, By Region
For more information about this report visit https://www.researchandmarkets.com/r/96dcvu
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