India Homecare Medical Equipment Market is Anticipated to Grow with an Estimated CAGR in the Forecast Years Fy2023-Fy2027, on the Grounds of Increasing Demand for the Efficient Medical Devices for the Patient Care at Home Too.
Upsurged Demands For Medical Devices Drive Market GrowthThe demands for the homecare medical equipment are rapidly growing due to increasing homecare set up for the chronic patients. Higher patient burden on the hospitals due to multiple reasons like increasing instances of chronic diseases, prolonged treatments for the chronic diseases, and increasing geriatric population in the country, is majorly responsible for the growth of the India homecare medical equipment market in the upcoming five years. Increasing instances of chronic diseases like cardiovascular diseases, cancer, neurological diseases, along with orthopedic implantations, orthopedic surgeries, etc. demands the patient to stay in bed for their recovery and healing post-surgery for a longer duration of time. This often leads to homecare setting for the patient and monitoring the fluctuating condition of the patient through homecare medical equipment.
Approximately, there are over 138 million older population in the country including males and females, that makes up more than 10% of the country’s population. Along with the medical attention that is affordable for them through their savings, a significant section of this population lives in old age homes. Increasing government initiatives and NGOs efforts to provide due medical attention to the older residents in the orphanages, are also substantially increasing market growth.
Expanding Healthcare Industry Promises Further Market GrowthHigher investment from government, foreign direct investment, steady increase in the production of medical devices, increasing imports of the medical devices from the larger economies further drive the growth of the India homecare medical equipment market in the next five years. The government of India has approved the continuation of ‘National Health Mission’ along with investment of USD5.10 billion under the declaration of Union Budget 2021-22. Major investments in the development of the medical equipment takes place through Foreign Direct Investments (FDI). In May 2020, the government of India had announced investment of USD4.9 billion over a period of 5 years that would be focused toward incentivizing the investments in medical devices & equipment development.
FDI inflow in the country has increased up to USD2.23 billion from April 2020 to June 2021. The recent pandemic situation also enhanced the investments that further aided the medical equipment market in the country indirectly. Although importing the medical equipment from the countries like the United States, China, and Germany accounts for 75-80% of the demands in the country, government is taking initiatives to promote the development of the medical equipment in India with higher investment, technological advancement, and increased research. Government approved a medical device park in Oragadam (Tamil Nadu) that might draw an investment of USD472.05 million through various sources and provide indirect employment to over 10,000 people.
Market SegmentationThe India homecare medical equipment market segmentation is based on type, distribution channel, regional distribution, top 3 states analysis, and competitional landscape. Based on type, the market is further bifurcated into therapeutic equipment, patient monitoring equipment, mobility aids & patient support equipment, and others. Therapeutic equipment includes home respiratory therapy equipment, home IV equipment, home dialysis equipment, and others. Patient monitoring equipment are blood glucose monitors, blood pressure monitors, Holter monitors, peak flow meters, apnea monitors, heart rate monitors, baby monitors, electronic thermometers, and others. Mobility aids & patient support equipment includes wheelchairs, walking assist devices, bathroom safety equipment, and others. The market is also segmented by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North India region, South India region, East India region, and West India region.
Company ProfileIndia Medtronic Pvt Ltd., Johnson & Johnson Medical India Limited, Abbott India Limited, Becton, Dickinson Private Limited, Roche Diagnostics India limited, Wipro GE Healthcare Pvt. Ltd., Mindray Medical India Pvt Ltd., Siemens India, Philips India Ltd., Hitachi Medical Systems India, Stryker India Private Limited, OttoBock Healthcare India Private Limited, Vissco Rehabilitation Aids Pvt. Ltd., Ostrich Mobility Instruments Private Limited, Karma Healthcare Ltd, are some of the major market players in the country that lead the market growth analysis. New market players are also actively entering the market in the recent years and further strengthening the growth of the future market growth.
Report Scope:In this report, India homecare medical equipment market is segmented into following categories, in addition to the industry trends which have also been detailed below:
India Homecare Medical Equipment Market, By Type:
- Therapeutic Equipment
- Home Respiratory Therapy Equipment
- Home IV Equipment
- Home Dialysis Equipment
- Patient Monitoring Equipment
- Blood Glucose Monitors
- Blood Pressure Monitors
- Holter Monitors
- Peak Flow Meters
- Apnea Monitors
- Heart Rate Monitors
- Baby Monitors
- Electronic Thermometers
- Mobility Aids & Patient Support Equipment
- Walking Assist Devices
- Bathroom Safety Equipment
India Homecare Medical Equipment Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
India Homecare Medical Equipment Market, By Region:
Competitive LandscapeCompany Profiles: Detailed analysis of the major companies present in India homecare medical equipment market.
Available Customizations:With the given market data, the publisher offers customizations according to a company’s specific needs.
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Table of Contents
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Therapeutic Equipment, Patient Monitoring Equipment, Mobility Aids & Patient Support Equipment, Others)
6.2.2. By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others)
6.2.3. By Region
184.108.40.206. By State (Top 3 States)
6.2.4. By Company (FY2021)
6.3. Product Market Map
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type (Home Respiratory Therapy Equipment, Home IV Equipment, Home Dialysis Equipment, Others)
7.2.2. By Distribution Channel
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type (Blood Glucose Monitors, Blood Pressure Monitors, Holter Monitors, Peak Flow Meters, Apnea Monitors, Heart Rate Monitors, Baby Monitors, Electronic Thermometers, Others)
8.2.2. By Distribution Channel
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type (Wheelchairs, Walking Assist Devices, Bathroom Safety Equipment, Others)
9.2.2. By Distribution Channel
14.2. Company Profiles
14.2.1. India Medtronic Pvt Ltd
14.2.2. Johnson & Johnson Medical India Limited
14.2.3. Abbott India Limited
14.2.4. Becton, Dickinson Private Limited
14.2.5. Roche Diagnostics India limited
14.2.6. Wipro GE Healthcare Pvt. Ltd.
14.2.7. Mindray Medical India Pvt Ltd
14.2.8. Siemens India
14.2.9. Philips India Ltd
14.2.10. Hitachi Medical Systems India
14.2.11. Stryker India Private Limited
14.2.12. OttoBock Healthcare India Private Limited
14.2.13. Vissco Rehabilitation Aids Pvt. Ltd.
14.2.14. Ostrich Mobility Instruments Private Limited
14.2.15. Karma Healthcare Ltd
A selection of companies mentioned in this report includes:
- India Medtronic Pvt Ltd
- Johnson & Johnson Medical India Limited
- Abbott India Limited
- Becton, Dickinson Private Limited
- Roche Diagnostics India limited
- Wipro GE Healthcare Pvt. Ltd.
- Mindray Medical India Pvt Ltd
- Siemens India
- Philips India Ltd
- Hitachi Medical Systems India
- Stryker India Private Limited
- OttoBock Healthcare India Private Limited
- Vissco Rehabilitation Aids Pvt. Ltd.
- Ostrich Mobility Instruments Private Limited
- Karma Healthcare Ltd