The market for
respiratory devices in India is anticipated to grow at a CAGR of 7.12% over the forecast period. The earliest stages of the COVID-19 pandemic had a substantial effect on the market under study. Indian businesses were able to immediately adapt to the COVID-19 pandemic by speeding up innovation, modernizing assembly lines, and accelerating the production of medical instruments and gadgets such as N95 masks and personal protective equipment (PPE), diagnostic kits, and ventilators. As a result, orders for "Made in India" ventilators were placed, and local manufacturers in India were urged to make them in order to meet the enormous predicted demand of the nation.The COVID-19 pandemic initially had a significant impact on the market. However, as the pandemic has subsided, the demand for these devices has also decreased, which has caused the market to lose some momentum. However, the COVID pandemic has increased awareness about the use of several respiratory products, so it is expected to follow stable growth during the study's forecast period.The country's rapid urbanization and heavy pollution have increased the prevalence of respiratory illnesses in India. For instance, the prevalence of COPD in the population of India aged 30 and older was 7%, according to an article published by PubMed in August 2021.
PLI schemes to have a positive impact on the market growth
Asthma, breathing issues, lung cancer, and other conditions have become more common in towns like Ghaziabad, Bulandshahr, Kanpur, etc. because they are among the most polluted cities in the world. This has raised the number of patients with various respiratory conditions, which has a positive impact on market growth over the next five years.Additionally, encouraging government initiatives like the launch of the Make in India and Aatmanirbhar Bharat programmes, 100% FDI inflow into the healthcare sector, and the production-linked incentive scheme are anticipated to have a positive impact on the growth of the Indian market for respiratory care devices during the anticipated period.
India becoming a destination for medical tourists
Also, India is becoming more and more popular as a destination for medical tourists from different parts of the world. At the
cutting-edge of respiratory care technologies are algorithms for sensing breath, intelligent inhalers, and wearable analytics. Asthma and other lung malignancies, including mesothelioma, are responsible for 70% of the nation's breathing problems. Specialist diagnoses and patient self-care are becoming easier because to technological breakthroughs.Breathing issues have surpassed all other medical conditions as the leading reason for hospitalizations during the past ten years, as air pollution continues to affect cities all over the world. Patients, including those with mesothelioma and those represented by Bergman Legal, can now benefit from some of these cutting-edge medical advancements.Today, respiratory illnesses and diseases affect over 300 million individuals worldwide, and the figure keeps rising every. Those with lung cancer, asthma, COPD, chronic bronchitis, and cystic fibrosis are among these individuals. The World Health Organization (WHO) forecasts that during the following ten years, the number of these cases will increase due to growing air pollution levels and ongoing cigarette smoking.
Increasing R&D efforts for CPAP equipment
The rising elderly population in the nation, the rising prevalence of sleep apnea, and the increased research and development efforts for CPAP equipment are the main reasons propelling the Respiratory device segment’s expansion. Devices that provide continuous positive airway pressure, or CPAP, are used to treat sleep apnea. One of the main drivers of segment growth in the country is the rising prevalence of sleep apnea, and as sleep apnea is associated with aging, the growing senior population is also anticipated to contribute to segment growth.The Indian respiratory devices market is expected to witness considerable expansion in the spirometer category. A spirometer is used for screening respiratory conditions in the workplace. Also, the segment growth is anticipated to be boosted by the growing use of spirometers for the diagnosis of different respiratory disorders. Spirometers are also used to examine the lung health during pulmonary tuberculosis treatment. For instance, spirometers were utilized in India to assess the impairment of lung function in patients with tuberculosis, according to a March 2022 article in the Indian Journal of Community Medicine. Also, the market participants' endeavors are anticipated to fuel the market segment's expansion. For instance, Cipla Limited introduced Spirofy on World Chronic Obstructive Pulmonary Disease (COPD) Day in 2021, making it the country's first wireless, portable pneumotach spirometer.Moving ahead, it is anticipated that the fast urbanization of the nation, the high level of pollution, and the strategic initiatives implemented by industry participants will propel the expansion of the respiratory devices market in India. The hefty cost of the gadgets, however, might limit market expansion during the anticipated time frame.
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