Growing prevalence of lung diseases coupled with outbreak of COVID-19 to drive India ventilator market
According to TechSci Research report, “India Ventilator Market By Equipment Type, By Product Type, By Mobility, By Mode, By Source, By End User, By Region, Competition, Forecast & Opportunities, FY 2026”, India ventilator market is forecast to grow at a CAGR of 10% during FY 2021 – FY 20206 on account of the increasing number of ICU beds equipped with ventilators. Additionally, growing prevalence of serious lung diseases or improper functioning of respiratory system requiring the use of ventilators for such patients is further anticipated to spur the market growth during forecast period. Additionally, growing air pollution and deteriorating air quality in cities has drastically increased the patient population suffering from various respiratory problems. This in turn is expected to positively influence the market growth in the coming years. Moreover, the spread of novel coronavirus (COVID-19) across the country has drastically increased demand for ventilators in the country, which is expected to significantly push volume sales of ventilators in FY 2021. However, high cost of ventilators and dependency on imports might hamper the market growth during forecast period.
Browse over 20 market data Tables and Figures spread through 70 Pages and an in-depth TOC on " India Ventilator Market"
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India ventilator market is segmented based on equipment type, product type, mobility, mode, source, end user, company and region. Based on product type, the market can be categorized into adult/pediatric and neonatal/infants. The adult/pediatric segment is expected to dominate the market on account of the growing geriatric population suffering from various chronic and infectious diseases, and hence, requiring the assistance of ventilators. Based on mobility, the market can be bifurcated into standalone and portable. The standalone segment is expected to dominate the market on account of the growing number of ICUs and ICU beds equipped with ventilators in the country. The portable ventilator segment is also expected to grow during forecast period due to rising prevalence of chronic diseases and increasing preference of portable ventilators in home care settings, ambulatory settings, emergency medical services, ambulances, among others. Additionally, portable ventilators are affordable, user friendly and provide flexibility in use. Based on end user, the market can be fragmented into hospitals & clinics, emergency medical services and others. The hospitals & clinics segment is expected to dominate the market owing to the increased patient pool visiting them requiring the use of ventilators.
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“India ventilator market is expected to witness surge in sales on account of sudden outbreak of COVID-19 pandemic. Furthermore, growth healthcare industry, rapid technological advancements and capacity expansions by ventilator manufacturers are expected to positively influence the ventilator market in India over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm. Philips Healthcare India, Getinge Group, GE Healthcare, ResMed India Pvt. Ltd., Draeger India Pvt. Ltd., Hamilton Medical, Schiller Healthcare India Pvt. Ltd., Air Liquide Medical Systems Pvt. Ltd., Skanray Technologies Pvt. Ltd., and Mindray Medical India Pvt. Ltd. are some of the leading players operating in India ventilator market. The companies operating in the market are using various strategies such as product launches, mergers and collaborations to boost their market share.
“India Ventilator Market By Equipment Type, By Product Type, By Mobility, By Mode, By Source, By End User, By Region, Competition, Forecast & Opportunities, FY 2026”, has evaluated the future growth potential of India ventilator 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 ventilator market.
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