India Respiratory Care Device Market to Grow at a Steady Rate of 7.07% During the Forecast Period
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the India Respiratory Care Devices Market.
According
to TechSci Research report, “India Respiratory Care Devices Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, India Respiratory Care Devices
Market has valued at USD 1489.04 million in 2023 and is anticipated to witness
an impressive growth in the forecast period with a CAGR of 7.07% through 2029. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market. Awareness and education play a crucial
role in driving the demand for respiratory care devices. Greater awareness
encourages individuals to seek medical attention at the early onset of
respiratory symptoms. This leads to more frequent diagnoses of respiratory
conditions, such as asthma, COPD, and sleep apnea, increasing the demand for
respiratory care devices for both diagnostic and therapeutic purposes. Informed
individuals are more likely to take an active role in managing their health.
Patients with respiratory conditions are more likely to adhere to treatment
plans, use prescribed devices, and monitor their symptoms regularly, thus
driving demand for devices like inhalers, nebulizers, and pulse oximeters. Awareness
campaigns targeting healthcare providers can lead to more frequent and accurate
diagnoses. Physicians, pulmonologists, and primary care providers who are
well-informed about respiratory health are more likely to recommend and
prescribe appropriate respiratory care devices. With the availability of
information through the internet and educational materials, patients can access
resources to learn about their conditions and available treatment options. This
empowers patients to ask for specific devices or therapies that they believe
will benefit them. Public awareness campaigns conducted by healthcare
organizations, government agencies, and non-profit organizations can raise
awareness about respiratory conditions and the available treatments. These
campaigns often emphasize the importance of using respiratory care devices for
better health.
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In August 2023, Glenmark Pharmaceuticals
Limited (Glenmark), a globally recognized pharmaceutical company known for its
research-driven approach, has partnered with OMRON Healthcare India, the Indian
subsidiary of the leading Japanese provider of home blood pressure monitoring solutions
and cardiovascular disease management. Their collaboration, named the
"Take Charge @18" initiative, is designed to promote awareness about
the importance of blood pressure monitoring at home from the age of 18. As part
of this initiative, Glenmark and OMRON Healthcare India will include an
informative inlay card with every OMRON Blood Pressure monitor sold in India.
This inlay card delivers a crucial message emphasizing the significance of
starting blood pressure screening at the age of 18. The primary goal is to
motivate individuals who encounter this inlay card, whether they are patients
or caregivers, to educate at least four family members aged 18 or older about
the importance of monitoring their blood pressure and incorporating it into
their health routine. Affordability is indeed a significant
challenge in the India Respiratory Care Devices Market. Many respiratory care
devices, such as ventilators, oxygen concentrators, and continuous positive
airway pressure (CPAP) machines, can be expensive. The high upfront cost of
these devices can be a barrier for both healthcare facilities and individual patients,
particularly those with limited financial resources. As mentioned earlier,
health insurance coverage in India is not universal, and even when it exists,
it may not cover the full cost of respiratory care devices. This can result in
significant out-of-pocket expenses for patients, making devices less
affordable. Respiratory care devices often require ongoing maintenance,
replacement of consumables (e.g., filters and tubing), and periodic servicing.
These additional costs can further strain the financial resources of patients
and healthcare providers. Affordability challenges can be more pronounced in
rural and underserved areas where healthcare infrastructure is limited, and
individuals may have lower income levels. Accessibility and affordability of respiratory
care devices may vary significantly across different regions of India. India
has a diverse economic landscape with significant disparities in income. While
some segments of the population can afford high-end respiratory care devices,
many others struggle to make such investments.
India Respiratory Care Devices Market is segmented based
on Product Type, Indication, End-user, and by region. Based
on the Indication, India Respiratory Care Devices Market is segmented into Chronic
Obstructive Pulmonary Disease, Infectious Diseases, Asthma, Sleep Apnea, Others.
Sleep apnea is a common sleep disorder
characterized by repeated interruptions in breathing during sleep. These
interruptions, known as apneas, can occur multiple times throughout the night
and can last for several seconds to minutes. Sleep apnea can significantly
disrupt a person's sleep patterns and lead to a range of health issues. Obstructive Sleep Apnea (OSA) is the most
common form of sleep apnea. It occurs when the muscles in the back of the
throat relax excessively during sleep, leading to the collapse of the upper
airway. As a result, the airway becomes partially or completely blocked,
preventing the flow of air into the lungs. This obstruction leads to breathing
pauses or reductions in airflow. Central
Sleep Apnea (CSA) is less common and occurs when the brain fails to send proper
signals to the muscles that control breathing. Unlike OSA, there is no physical
obstruction in the airway. CSA is often associated with medical conditions like
heart failure, stroke, or the use of certain medications. Based on Region, North
India held the largest share in the India
Respiratory Care Devices Market. Some areas in North India, particularly
the National Capital Region (NCR), face severe air quality issues, especially
during certain seasons. This has contributed to a higher incidence of
respiratory problems, making respiratory care devices more essential in this
region. North India has seen significant urbanization and industrialization.
Urban areas often have higher pollution levels and more exposure to
environmental factors that can contribute to respiratory illnesses. North India
has seen a relatively high prevalence of respiratory conditions such as asthma
and chronic obstructive pulmonary disease (COPD). This, in turn, drives the
demand for respiratory care devices. Economic factors also play a role. North
India is home to several economically well-off regions, and individuals with
higher disposable incomes are more likely to seek advanced medical treatments,
including respiratory care.
Some of the major companies
operating in the India Respiratory
Care Devices Market include:
- 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.
- Becton,
Dickinson, and Company (CareFusion Corp.)
- Opto
Circuits India Ltd.
- Omron
Healthcare India Pvt. Ltd.
- Nihon
Kohden India Pvt. Ltd
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“Certain areas, particularly in North
America, are projected to exert significant demand for Respiratory Care Devices.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the India Respiratory
Care Devices Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
India Respiratory Care Devices Market by
Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices,
Consumables & Accessories), By Indication (Chronic
Obstructive Pulmonary Disease, Infectious Diseases, Asthma, Sleep Apnea, Others),
By End User (Hospitals & Clinics, Ambulatory Care Centers, Others), By Region, By Competition
Forecast & Opportunities, 2019-2029F has evaluated the future growth
potential of India Respiratory Care Devices Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide innovative 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 Devices Market.
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