“Final Report will add the analysis of the impact of COVID-19 on industry.”
Report Ocean has recently published a comprehensive study on the India Ventilator Market, covering the prediction period of 2023-2031. Throughout the years, this report has diligently examined the industry, taking into account various factors such as macroeconomic parameters, consumer buying patterns, microeconomic parameters, GDP growth rate, inflation rate, and market demand-supply scenarios.
market players, such as [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.
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
India Ventilator Market to Witness 9.1% CAGR during 20222028
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 firmReport Ocean, revealed that the India ventilator market is forecast to grow at a CAGR of 9.1% during the forecast period of 2022-2028on 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.
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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 segments growth.
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.
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Market Segment:
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)
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.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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