India Respiratory Devices Market Size

India Respiratory Devices Market Analysis

The India respiratory devices market is projected to register a CAGR of 7.12% during the forecast period.

The COVID-19 pandemic had a significant impact on the studied market during its initial phase. Fast-tracking innovation, revamping assembly lines, and expediting manufacturing of medical instruments and devices ranging from N95 masks and personal protective equipment (PPE) to diagnostic kits and ventilators helped Indian companies respond quickly to the COVID-19 pandemic. According to an article published by MoHFW in May 2021, ventilators were available in very limited numbers in government hospitals across the country during the initial phase of the pandemic, and very limited manufacturing of ventilators was taking place in the country and most of the suppliers abroad were not in a position to make supplies of ventilators in large quantities to India. So, local manufacturers were encouraged in India to produce 'Make in India" ventilators to address the huge projected demand of the country and orders placed on them. Hence, the COVID-19 pandemic had a significant impact on the market initially, however, currently, as the pandemic has subsided, the demand for these devices has also gone down as a result the market has lost some traction, but covid pandemic has lead to increased awarness about use of several respiratory products and thus it is expected to follow stable growth during the forecast period of the study.

The India respiratory devices market is expected to show rapid growth due to the increasing prevalence of respiratory disorders such as COPD, TB, asthma, and sleep apnea, along with technological advancements and increasing applications in home care settings.

Rapid urbanization in the country and a large amount of pollution have contributed to a higher incidence rate of respiratory diseases in India. For instance, according to the article published by PubMed in August 2021, the prevalence of COPD among the population aged 30 years and above in India was 7%. Such studies demonstrating the prevalence of respiratory diseases in the country are driving the demand for respiratory devices, ultimately boosting the growth of the market.

Furthermore, the strategic initiatives undertaken by the market players are also boosting the growth of the market. For instance, in May 2021, Vyaire Medical, a global company focused exclusively on breathing devices, entered into an agreement with GenWorks, a healthcare solutions provider with 140 locations within India and a direct presence in 27 states. Such initiatives taken by the market players are also propelling the growth of the market in the country.

Thus, factors such as rapid urbanization in the country and a large amount of pollution, and the strategic initiatives undertaken by the market players are expected to drive the growth of the respiratory devices market in India. However, the high cost of devices may hinder the growth of the market over the forecast period.