India Ventilator Market to Witness 9.1% CAGR during 2022–2028
Published | 03 February 2022
India ventilator market to grow due to surging number of ICU admissions in the country coupled with launch of new and innovative products by manufacturers…
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the India ventilator market is forecast to grow at a CAGR of 9.1% during the forecast period of 2022-2028 on account of the rising burden of respiratory diseases, which is leading to increasing number of ICU admissions across the country. Chronic respiratory diseases, such as asthma, COPD, chronic bronchitis, etc., are causing respiratory issues among people, making it tough for them to breathe. Therefore, the demand for ventilators in ICU is growing at a rapid pace, propelling the overall market growth. Additionally, manufacturers are expected to increase investments in ventilator production, which is also anticipated to positively influence the market during the forecast period.
Increasing Demand Among Adult/Pediatric Patients is Projected to Drive India Ventilator Market
Based on types, the India ventilator market is segmented into adult/pediatric ventilators and infant/neonatal ventilators. The adult/pediatric segment accounts for the largest market share because of the increasing geriatric population and rising prevalence of chronic respiratory diseases. According to an estimate by The Lancet, 37.9 million people in India have asthma and frequently experience respiratory issues. However, the infant/neonatal ventilators segment is projected to witness a high growth rate during the forecast period due to the rising cases of preterm births in India.
Rising Hospital Investments in Ventilators Is Anticipated to Boost the Market Growth
Based on mode, the India ventilator market is segmented into combined-mode ventilation, volume-mode ventilation, pressure-mode ventilation, and other modes. Among these, the volume/assist-control mode ventilation segment holds the largest market share. This mode is prominently used in intensive care units for patients experiencing respiratory issues and requiring external support. Volume-mode ventilation reduces work of breathing and improves comfort for patients with high and variable respiratory demands. Additionally, the surge in the prevalence of respiratory issues, especially after the COVID-19 pandemic, is anticipated to drive the segment’s growth.
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India Ventilator Market - Regional Insights
Geographically, the India ventilator market has been analyzed across North India, South India, East India, West India. Among these regions, South India dominates the India ventilator market. However, North India is anticipated to witness a high growth rate during the forecast period. Several North Indian states, such as Uttar Pradesh, Delhi, and Bihar, have been investing significantly in boosting healthcare expenditures to strengthen the infrastructure to deal with public health emergencies. This is likely to boost the market during the forecast period.
Impact of COVID-19 on India Ventilator Market
India ventilator market boomed after the outbreak of COVID-19 in the country. Due to severe breathing problems and respiratory issues, COVID-19 patients were required to be placed on ventilators in order to maintain their breathing. However, an overwhelming surge in the COVID-19 cases in the country led to a shortage of ventilators. This led to a huge demand for ventilators, which led to the overall market growth. Furthermore, ventilator manufacturers also significantly invested in boosting production capacities of ventilators, which is anticipated to drive the market growth during the forecast period.
India Ventilator Market - Competitive Landscape
The leading players in the India ventilator market are AgVa Healthcare, Life Line Biz Pvt. Ltd., Trivitron Healthcare Pvt. Ltd., Air Liquide Medical Systems Private Limited, Max Ventilators, Narang Medical Limited, AVI Healthcare Pvt. Ltd., Skanray Technologies Pvt. Ltd., Medion Healthcare Pvt. Ltd., OneBreath Inc., and other prominent players.
The India ventilator market is highly consolidated due to the presence of leading ventilation device manufacturers. However, the shortage of ventilators in India after the COVID-19 outbreak opened various growth opportunities for the new players as well. To gain a competitive edge, the market players launch ventilators of various types and significantly invest in research and development activities to innovate their products. They also establish partnerships with hospitals and other healthcare facilities as their official ventilator providers to boost their market share. Furthermore, the adoption of competitive strategies such as mergers, acquisitions, joint ventures, collaborations, etc., is also prominent in this market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India ventilator market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of India ventilator market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- India Ventilator Market, By Mobility (Intensive Care Ventilators, Portable/Transportable Ventilators), By Interface (Invasive Ventilation, Non-Invasive Ventilation), By Type (Adult/Pediatric Ventilators, Infant/Neonatal Ventilators), By Mode (Combined-Mode Ventilation, Volume-Mode Ventilation, Pressure-Mode Ventilation, Other Modes), By End-User (Hospitals & Clinics, Home Care, Ambulatory Care Centers, Emergency Medical Services), By Region (North India, South India, East India, West India) Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Publish Date: February 2022
India ventilator market to grow due to surging number of ICU admissions in the country coupled with launch of new and innovative products by manufacturers.
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