India Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India patient monitoring market is projected to register a CAGR of 6.4% during the forecast period.

The COVID-19 pandemic showed enormous pressure on the healthcare system and hospitals that were understaffed and overworked. Patient monitoring devices such as ventilators helped in the monitoring of critically ill COVID-19 patients which allows the measurements of physiological reserves and indicates the effectiveness of therapeutic interventions during the pandemic which shows the positive impact on the market. Furthermore, the companies are increasing their manufacturing of critical/essential medical device products. For instance, in April 2021 more than 30 hospitals partner with Dozee to enable Remote Patient Monitoring in COVID-19 wards for management of shortage of beds. In addition in July 2020, the company Royal Philips introduced first-of-its-kind mobile Intensive Care Units (ICUs) in India.

The key factors propelling the growth of the market are the rising incidences of chronic diseases due to lifestyle changes, growing preference for home and remote monitoring, and ease of use and portability devices to promote growth.

India is among the top three countries with high incidence of diabetes. According to the International Diabetes Federation, the prevalence of diabetes in adults was estimated to be 8.9% of the total population accounting to 77,005,600 total cases in India in 2020. ​ Moreover, according to World Ageing 2019 Report, in India, the population aged 65 years or over was 87.149 million (6.4%) in 2019, which is projected to reach 128.877 million (8.6%) by 2030. As number of elderly population ais expected to grow in near future, which will ultimately increase the market growth, as the population are more prone to respiratory diseases, like COVID-19 and other respiratory chronic diseases.

Indians are four times more likely to develop diabetes than other regions, such as Europe, because Indian diets are rich in saturated fats and carbohydrates, which add more extra calories and sugar than required by the body. Additionally, sedentary lifestyles and obesity are the other factors responsible for the high prevalence of diabetes. Therefore, the high prevalence of chronic diseases in India is expected to augment the growth of the patient monitoring market.

Owing to the rapid evolution of the market in the use of medical technology, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits.

Key Market TrendsThe Respiratory Segment is Expected to Hold a Major Market Share

The COVID-19 pandemic has also spiked the demand for patient monitoring devices, which can help in monitoring the patients and help in diagnostics and treatment for the disease. As the crisis deepens, remote patient monitoring (RPM) is rapidly gaining recognition as a highly valuable solution for individualized care that keeps patients at home, while reducing the strain on an already over-taxed emergency department (EDs).

The patient monitoring devices for the respiratory segment are being driven by the growing chronic respiratory diseases, and the adoption of these devices in sleep apnea and disease outbreaks affect the respiratory system. The most common chronic respiratory diseases are chronic obstructive pulmonary disease (COPD), occupational lung diseases, pulmonary hypertension, and asthma.​ As per the Global Asthma report 2018, among the 1.31 billion population in India, nearly 6 percent of children and 2 percent of adults have asthma in 2018. The patient monitoring devices are found to be beneficial to those with chronic respiratory disorders. In addition as per the World Health Survey data 2019, more than 20% of the Indian population smokes daily, which is also a major contributor to the increasing prevalence and incidence of chronic respiratory diseases.

Moreover, few of the market players are also launching products associated with patient monitoring. For example, in November 2019 the company Lupin launched Adhero, first-of-its-kind connected smart device in India for the treatment of respiratory devices.

Thus, owing to the above factors, the respiratory segment is expected to show significant growth in the coming years.

Competitive Landscape

The India patient monitoring market is fragmented competitive and consists of several major players. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help in strengthening their market positions. Some of the companies currently dominating the market are Koninklijke Philips NV, GE Healthcare, BPL Group, Mindray Medical International Limited, Nihon Kohden Corporation, Dragerwerk AG, Spacelabs Healthcare, Schiller, Omron Healthcare, Inc. , and Life Plus Healthcare (P) Limited.

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• The market estimate (ME) sheet in Excel format
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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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