24 Jul 2019
Posted in Press Release
India’s Positive Airway Pressure devices market set to grow at CAGR of 6.9% between 2018 and 2028, says GlobalData
The Indian Positive Airway Pressure (PAP) devices market, which accounted for approximately 26% of the Asia-Pacific PAP devices market in 2018, is expected to grow at a compound annual growth rate (CAGR) of approximately 6.9% between 2018 and 2028 , according to GlobalData, a leading data and analytics company.
The company’s report: ‘Positive Airway Pressure Devices – Anesthesia & Respiratory Devices Market Analysis and Forecast Model’ reveals that Continuous PAP (CPAP) devices are the major revenue contributors within the PAP market. The market for CPAP devices is expected to grow at a CAGR of 6.7% between 2018 and 2028 in India.”
Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments: “Growing awareness of respiratory diseases, innovation of simple, affordable, high quality and infrastructure-independent PAP devices are driving the market forward.”
Approximately, 150,000 newborns with Respiratory Distress Syndrome (RDS) die annually in India, and tragically, over one-third of them die while being transported to a neonatal intensive care unit (NICU), according to WHO. To save the lives of neonates suffering from RDS, the Indian government is encouraging new projects with financial assistance. An example of this is the recent launch of the world’s first portable neonatal CPAP device, Saans, in India.
Thammanabhatla concludes: “Improving manufacturing processes and encouraging private companies to invest in R&D capabilities to produce cost-effective and high quality medical devices will gradually improve diagnosis and the affordability of treatment in India.”