India Nebulizers Market to Reach an Opportunity of INR 4,703.4 Million by the End of 2023
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A recent research by the World Health Organization (WHO) has disclosed that deaths because of lung disorders in India are on a high rise. Nearly 142 deaths in every 100,000 deaths are due to some or the other form of lung disorders. This has made India rank first in the world in terms of deaths due to lung diseases.
The growing prevalence acute respiratory diseases that lead to asthma, chronic pulmonary diseases, and cystic fibroses has chiefly driven the India nebulizers market. Nebulizers are very effective in treating these above-mentioned conditions and thus, growth in these medical conditions have effectively led to the development of the nebulizers market. Nebulizers involve inhaling a liquid medication that is converted into breathable aerosol which can readily reach the lungs and treat the infection. Such ease in treatment has also driven the overall development of the India nebulizers market.
Another factor responsible for the growth in India nebulizers market is the severe increase in pollution across the country. Different types of pollutions such as vehicular pollution and air pollution coupled with increasing population has led to widespread increase in acute respiratory diseases. This in turn has resulted into rise in demand for nebulizers across the nation.
However, lack of awareness among the consumers about using quality products is one of the major restraining factors in the overall growth of the Indian nebulizers market. Moreover, with majority population cannot afford the high machinery and medication prices associated with nebulizers. This has also led to slowing down the growth of the nebulizers market in India.
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With the rising number of market players, the India nebulizers market is experiencing an intense competition. Some of the key players in the Indian nebulizers market include names such as Becton Dickinson & Company, Bhasin Sons Private Ltd., PARI Respiratory Equipment Inc., Respirotech Med Solutions Pvt Ltd., Agilent Technologies, Medicare Equipment (India) Pvt. Ltd., Omron Healthcare, Philips Healthcare, CareFusion, and DeVilbiss Healthcare LLC. The India nebulizers market is highly fragmented because of this large pool of market players. Of these mentioned names, CareFusion, Philips Healthcare, and Omron Healthcare have dominated the Indian market for nebulizers in the recent past. These three companies accounted for a combined market share of about 52% in the highly fragmented market. In the near future, the market participants are expected to invest heavily in research and development events to launch advanced and innovative products with in order to bolster their market presence. These companies are also taking strategical decisions such as mergers and acquisitions to enhance their market presence. One such instance is the recent acquisition of CareFusion company by Becton Dickinson & Company. This acquisition has reportedly doubled the market share of the company.
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