India Respiratory Care Device Market to grow at a Substantial Rate During the Forecast Period
Growing incidence of respiratory
diseases is expected to drive the growth of India respiratory care device
market during the forecast period.
According
to TechSci Research report, “India Respiratory Care Device Market By Product Type
(Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables &
Accessories), By Indication (Chronic Obstructive Pulmonary Disease, Sleep
Apnea, Asthma, Infectious Diseases, Others), By End User (Hospitals &
Clinics, Ambulatory Care Centers, Others), By Company, By Region, Forecast
& Opportunities, FY2027”, the India respiratory care device market is expected to grow
at a substantial rate during the forecast period. Growing incidence of preterm
births is projected to act as major market driving factor. Moreover, high
prevalence of respiratory diseases in the country is further expected to fuel
the market growth through FY2027. Furthermore, growing demand for multimodal
ventilation is estimated to boost India respiratory care device market growth. Rising
aging population is further expected to drive the market growth during the
forecast period. However, lack of awareness which is leading to a large
underdiagnosed and undertreated population can restrict the growth of India
respiratory care device market over the next few years.
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The India respiratory care device market is segmented based on product
type, indication, end user, company, and region. Based on indication, the
market can be fragmented into chronic obstructive pulmonary disease, sleep
apnea, asthma, infectious diseases, others. The chronic obstructive pulmonary
disease segment is expected to dominate the market in the forthcoming years on
account of upsurge in the prevalence of smoking and environmental factors. In
addition to this, increase in indoor as well as outdoor air pollution levels,
high exposure to dust and chemicals are other factors driving the prevalence of
COPD. Also, rising genetic disorders coupled with increasing geriatric
population in the country is further boosting the segmental growth in the
coming years. Based on end user, the market can be categorized into hospitals
& clinics, ambulatory care centers, others. Among these, the hospitals held
the largest market share in the market until FY2020 owing to financial
capabilities of hospitals to purchase expensive equipments. Besides, availability
of trained professionals in hospitals to operate respiratory care devices is
further contributing to the growing trend.
India Medtronic Private Limited,
ResMed India Pvt. Ltd., Philips Healthcare 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. and others are
some of the leading players operating in India respiratory care device market. Companies
operating in the market are using organic Go-to-Market strategies such as
product launches, mergers and acquisitions and research collaborations to boost
their share and increase their geographic reach.
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“India respiratory care device market is
expected to witness steady growth during the forecast period on account of rapid
technological advancements in the respiratory care devices development. Along
with this, developing healthcare infrastructure is further forecasted to bode
well for the growth of respiratory care device market in the country. Moreover,
availability of large number of products for diagnosis, treatment and
monitoring of diseases is further expected to create lucrative opportunities
for the market growth of India respiratory care device market over the next
five years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based India management consulting firm.
“India Respiratory Care Device Market By Product
Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables
& Accessories), By Indication (Chronic Obstructive Pulmonary Disease, Sleep
Apnea, Asthma, Infectious Diseases, Others), By End User (Hospitals &
Clinics, Ambulatory Care Centers, Others), By Company, By Region, Forecast
& Opportunities, FY2027”, has
evaluated the future growth potential of India respiratory care device market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India respiratory care device market.
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