The Indian home medical equipment market is anticipated to grow at a considerable CAGR of 8.1% during the forecast period (2020-2026). The home medical equipment market in India is gaining momentum and is poised for growth mainly owing to the presence of a large base geriatric population.
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According to the State of World Population 2019 report by the United Nations Population Fund (UNFPA), 6% of India’s population was of the age 65 and above. The percentage is much lower as compared to other countries globally however due to the 1.36 billion total population, the geriatric population of the country stands around 80 million. Senior citizens are the most potential user of home medical equipment, hence will significantly aid the growth of the market.
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Additionally, the adoption of home medical equipment for the patients that are not up for frequent travel to the hospitals is also significantly high. This will also provide various growth opportunities for the Indian home medical equipment industry.
Moreover, the increase in chronic diseases, as well as the requirements for improved quality healthcare (primary and post-operative), is aiding the growth of the market. Besides, the integration of web-based management tools or software that improves the overall efficiency of home care by providing real-time feedback from the concerned authority is also driving the adoption of such equipment in the country.
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By Type
o By Distribution Channel
- Competitive Landscape- F. Hoffmann-La Roche Ltd., Mankind Pharma Ltd., Cardinal Health Inc., Medtronic PLC
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
India Home Medical Equipment Market Report Segment
- Diagnostic and Monitoring Device
- Therapeutic Devices
- Mobility Care Devices
- Medical Furniture
By Distribution Channel
- Abbott Laboratories
- B. Braun Melsungen AG
- Baxter International Inc
- Cardinal Health Inc
- Cipla Ltd.
- F. Hoffmann-La Roche Ltd.
- Fresenius SE & Co. KGaA
- General Electric Co.
- Invacare Corp.
- Koninklijke Philips N.V.
- Mankind Pharma Ltd.
- Medtronic PLC
- Microgene Diagnostic Systems Pvt. Ltd.
- Ottobock SE & Co. KGaA
- Rossmax International Ltd.
- Stryker Corp.
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