07 Apr 2020
Posted in Coronavirus
AgVa Healthcare best placed to capitalize on growing demand for ventilators in India, says GlobalData
As the number of coronavirus (Covid-19) cases continue to increase in India, AgVa Healthcare with its cost-effective portable ventilator is best placed to capitalize on the growing demand for ventilators across the country, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘India Respiratory Devices Market Outlook to 2025’, reveals that the ventilator market in India will grow well above the expected compound annual growth rate (CAGR) of 4.8% for the next few years. The market is also expected to be driven by the rising cases of acute and chronic respiratory diseases among general population.
Bhaskar Vittal, Medical Devices Analyst at GlobalData, comments: “AgVa Healthcare, a local Indian startup, claims that its portable ventilator has a battery back up of three hours and requires no special installation. These features are important considering the power outages and limited infrastructure available in healthcare facilities in small cities and rural areas across India.”
The company’s ventilator is expected to cost about US$2,000-US$3,000 while the conventional ventilators in India cost US$4,000-US$10,000. This gives AgVa Healthcare a major advantage in the price sensitive Indian medical equipment market.
Vittal continues: “Ventilators are primarily used to treat patients in intensive care units suffering from respiratory conditions. Ventilators are also used to treat patients suffering from Covid-19, especially those with respiratory problems. In India, currently the number of patients suffering from Covid-19 is comparatively low. However, once community transmission phase starts, the number is expected to grow significantly in the coming days and weeks. This will result in a huge demand for ventilators in India.”
According to GlobalData estimates, the installed base of ventilators in India is just shy of 45,000 units. The demand for ventilators is expected to go up once the Covid-19 cases grow in the coming days.
Vittal concludes: “Considering the upcoming demand for ventilators in India, government-run HLL Lifecare is trying to procure 10,000 ventilators on priority basis and has invited tenders for the same. AgVa Healthcare is expected to corner a major share of this tender considering the low cost and ease of use of its ventilator.”