India Ventilator Market Assessment, By Mobility [Intensive Care Ventilators, Portable/Transportable Ventilators], By Type [Adult/ Pediatric Ventilators, Neonatal/Infant Ventilators], By Interface [Invasive Ventilators, Non-Invasive Ventilators], By Mode [

India Ventilator Market Assessment, By Mobility [Intensive Care Ventilators, Portable/Transportable Ventilators], By Type [Adult/ Pediatric Ventilators, Neonatal/Infant Ventilators], By Interface [Invasive Ventilators, Non-Invasive Ventilators], By Mode [Combined Mode Ventilators, Volume Mode Ventilators, Pressure Mode Ventilators, Others], By End-user [Hospitals, Clinics, Ambulatory Care Centers, Home Care Settings, Others], By Region, Opportunities and Forecast, FY2017-FY2031F

India Ventilator Market size was valued at USD 201 million in FY2023, which is expected to reach USD 375.36 million in FY2031F, with a CAGR of 8.12% for the forecast period between FY2024 and FY2031F. The ventilator market in India is anticipated to grow due to the rising prevalence of respiratory diseases and deteriorating AQI levels in tier-1 cities.

The major reason behind the rising prevalence of respiratory diseases is smoking and increasing pollution levels, which are on a significant rise in India. The COVID-19 pandemic caused significant growth in the India ventilator market to support the respiratory system of patients leading to the requisition of mechanical ventilation. Another factor contributing to market growth is the increasing manufacturing of ventilators under the ‘Make in India’ campaign. Several Indian companies started manufacturing ventilators during the pandemic to resolve shortcomings like dependency on imports and associated high costs, further boosting India's ventilator market.

Moreover, government initiatives to improve critical care in hospital settings by enhancing ventilator inventory contribute to market growth. Technological advances and industry collaborations are also anticipated to drive market growth in the forecast years. According to a press release presented on 25th November 2022 by the Ministry of Health and Family Welfare, there were a total of 23,988 COVID treatment facilities with 17,93,310 dedicated isolation beds (including 5,15,001 oxygen-supported isolation beds) and 1,45,014 ICU beds (including 63,850 ventilator beds).

Rising Prevalence of Respiratory Disease

India ranks 8th among the most polluted countries in the world which is a major cause of respiratory diseases. India is the second largest consumer and producer of tobacco, and smoking tobacco is another main cause of respiratory diseases. Respiratory diseases cause difficulty in breathing, leading to the requirement of mechanical ventilation in the treatment process. In case of lower respiratory tract infection, COPD, severe asthma or emphysema, the patient needs ventilator support for a longer duration.

Thus, the rising prevalence of respiratory diseases is causing the demand for ventilators to further fuel the market growth in the forecast period. As per data from Global Burden of Disease report, India ranks 2nd in COPD prevalence, 6th in lower respiratory infection, and 7th in tuberculosis, overall, India contributes about 17% of the global respiratory disease burden. Hence, it is evident that the prevalence of respiratory diseases in India is increasing which is anticipated to contribute to growth in India ventilator market.

Increasing Local Manufacturing of Ventilators

Amidst COVID-19, to address the high demand of ventilators, many local players started manufacturing ‘Make in India’ ventilators. The initiative significantly reduced India's import dependency and further strengthened the ventilator market. Devices manufactured within our country will significantly reduce the cost and further improve affordability. Apart from local production of ventilators, many Indian companies partnered and collaborated with other companies to enhance their production capacity and distribution channel. In 2021, India reached a production capacity of 396,260 ventilators per year. In terms of home ventilator production and supply, India is quickly catching up to North America/Europe and China/Japan, with the global market expected to reach $6.6 billion in 2028.

Government Initiatives

The Indian government has provided consistent support to states and UTs for the effective management of COVID patients in hospital care under the ‘Whole of Government’ approach since 2020. To improve the hospital infrastructure, the Union government was centrally procuring and providing states/UTs/central hospitals with essential medical devices including ventilators since April 2020. When the pandemic began in 2020, there were few ventilators available in government hospitals across the country. Furthermore, the nation was producing very few ventilators, and most foreign suppliers were unable to provide India with ventilators in significant quantities. At that time, orders for ""Made in India"" ventilators were placed, and local producers were urged to meet the enormous, anticipated demand of the nation.

Impact of COVID-19

The pandemic had a positive impact on India ventilator market. All states witnessed a rapid increase in COVID-19 patients daily and hospitals were overcrowded with patients with adequate ventilator capacity. Coronavirus affected the respiratory system which forced the patients to undergo mechanical ventilation. Due to the rising number of COVID-19 patients, the demand for ventilators was very high during the pandemic.

Post pandemic, there were a few ventilator manufacturers in India, with an annual supply of a limited number of ventilators. However, as the demand increased, more players joined, to increase the manufacturing capacity. Several domestic companies significantly invested in increasing the manufacturing capacity of ventilators with the collaboration of other companies such as Maruti Suzuki Limited, Mahindra & Mahindra to fast-track the production.

Home Care Settings are Expected to Grow at a Significant Rate

Throughout the forecasted period, the home care settings category will grow at the fastest rate. The primary driver of this segment's growth is the introduction of remote health monitoring devices. Hospital visits can be decreased, the risk of hospital-acquired infections can be reduced, and health metrics can be analyzed at home with these devices. The India ventilator market is experiencing a significant shift towards home care settings, driven by various factors. The COVID-19 pandemic has led to an increased demand for home care ventilators, as patients seek to receive care in the comfort of their homes while reducing the burden on hospitals. The surge in geriatric population and prevalence of respiratory disorders have contributed to the growing demand for home care settings.

Key Players Landscape and Outlook

India ventilator market is dominated by local manufacturers and big multinationals. Leading companies include Wipro GE Healthcare Pvt Ltd, Koninklijke Philips N.V., Skanray Technologies Pvt Ltd, Koninkijke Philips N.V., AgVa Healthcare, and many others. These companies have robust product portfolios and constantly invest in research and development to produce more cost-effective and innovative solutions.

For instance, in May 2022, Max Ventilator launched multifunctional non-invasive ventilators with inbuilt oxygen therapy and humidifier. The cost of the device is 25% of the cost of traditional ventilators, and it can be used with adults as well as neonates. Such innovative and cost-effective products increase the market demand and are anticipated to contribute to market growth.