Summary

In India Growing awareness among the population about health and wellness has been a significant driver. As people become more conscious of preventive healthcare and early diagnosis, the demand for therapeutic devices for monitoring and managing health conditions has risen. The prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and respiratory conditions, has been on the rise in India. Therapeutic devices play a crucial role in the management and monitoring of these conditions, contributing to the increased demand for such devices. Affordability is a key factor driving the therapeutic device market in India. Manufacturers are increasingly focusing on developing cost-effective devices to make healthcare more accessible to a larger section of the population, including those in rural areas. India has become a hub for medical tourism, attracting patients from around the world for various medical treatments. This influx of patients has contributed to the demand for state-of-the-art therapeutic devices and has driven investments in advanced healthcare infrastructure. The aging population in India has led to a higher incidence of age-related health issues. Therapeutic devices catering to the elderly, such as mobility aids, monitoring devices, and assistive technologies, are in greater demand. Economic growth and urbanization have led to lifestyle changes, including sedentary lifestyles and unhealthy dietary habits. These factors contribute to the increased prevalence of conditions such as obesity and diabetes, driving the demand for therapeutic devices. The implementation of regulatory frameworks, such as the Medical Devices Rules, 2017, has provided a more structured and transparent environment for the therapeutic device market. This regulatory support has encouraged both domestic and international manufacturers to invest in the Indian market. The increasing penetration of health insurance in India has made healthcare services and therapeutic devices more accessible to a broader segment of the population. Health insurance coverage often includes provisions for the reimbursement of medical devices, encouraging their use.

According to the research report "India Therapeutic Device Market Overview, 2028," published by Bonafide Research, the India Therapeutic Device market is expected to grow with more than 8% CAGR from 2023 to 2028. The rising incidence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders has led to an increased demand for therapeutic devices in India. This trend is expected to continue as the population ages and lifestyle factors contribute to health issues. With an increase in disposable income and growing health awareness, individuals in India are more willing to invest in their well-being. This has contributed to the growth of the therapeutic device market as consumers seek ways to monitor and manage their health proactively. Wearable devices for health monitoring, such as fitness trackers and smartwatches with health-related features, are becoming popular. These devices offer continuous monitoring of vital signs and activities, promoting preventive healthcare. The adoption of telemedicine and remote patient monitoring solutions has grown significantly. This trend has been accelerated by the COVID-19 pandemic, making healthcare more accessible, especially in remote or underserved areas. The integration of artificial intelligence (AI) and machine learning (ML) in therapeutic devices is on the rise. This includes applications in diagnostics, personalized treatment plans, and data analysis for better patient outcomes. Smart inhalers, which incorporate digital technology to track inhaler usage and provide real-time feedback, are gaining attention. These devices are particularly relevant in the management of respiratory conditions. Changes in healthcare reimbursement policies impact the adoption of therapeutic devices. As reimbursement structures evolve, manufacturers and healthcare providers may need to adjust pricing strategies and service models. Innovations in smart prosthetics and assistive devices are improving the quality of life for individuals with limb loss or mobility impairments. These devices often incorporate sensors and connectivity features for enhanced functionality.

India has a high and growing prevalence of diabetes, particularly type 2 diabetes. The increasing incidence of diabetes contributes to a rising demand for insulin delivery devices as insulin therapy is a common treatment for diabetes management. There is a growing awareness of diabetes and its complications in India. Government initiatives and healthcare organizations often conduct screening programs to detect diabetes early. As awareness increases, more individuals are diagnosed with diabetes, leading to a higher demand for insulin delivery devices. As awareness grows and healthcare professionals emphasize the benefits of insulin therapy, more individuals are adopting insulin for diabetes management. This increased adoption directly drives the demand for insulin delivery devices. The preference for non-invasive or minimally invasive insulin delivery systems is driving innovation in the market. Devices that offer a less intrusive and more convenient way to administer insulin, such as insulin patches or inhalable insulin, contribute to the growth of this segment. The aging population in India is more susceptible to chronic conditions like diabetes. As the population ages, there is a natural increase in the number of individuals requiring insulin therapy, contributing to the demand for insulin delivery devices. The aging population in India is more susceptible to chronic conditions like diabetes. As the population ages, there is a natural increase in the number of individuals requiring insulin therapy, contributing to the demand for insulin delivery devices.

The Home Care Settings segment in the India Therapeutic Device Market is anticipated to exhibit the highest CAGR during the forecast period, driven by several key factors. Firstly, there is a growing preference for home-based healthcare, as patients increasingly seek the comfort and convenience of receiving therapeutic treatments in familiar surroundings rather than in traditional clinical settings. Technological advancements have played a crucial role, contributing to the development of portable and user-friendly therapeutic devices that can be easily used at home without the need for professional assistance. The aging population in India is another significant factor contributing to the prominence of home care settings. With an increase in chronic diseases among the elderly, managing these conditions at home is not only cost-effective but also enhances the overall quality of life for patients. The cost-effectiveness of home care solutions is particularly relevant in the Indian context, where access to advanced healthcare facilities may be limited for a considerable portion of the population. Based on end user, Movement disorders, such as Parkinson's disease and essential tremor, are becoming more prevalent in India, primarily due to an aging population. As the population ages, the incidence of movement disorders tends to rise, driving the demand for therapeutic devices designed to manage these conditions. Increased awareness among both healthcare professionals and the general population about movement disorders has led to early diagnosis and intervention. As awareness campaigns and medical education programs become more widespread, individuals are more likely to seek treatment for movement disorders, contributing to the growth of therapeutic device adoption.

Considered in this report:
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• India Therapeutic Device market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Insulin Delivery Devices
• Dialysis Equipments
• Ventilators
• IV Equipments
• Sleep Apnea Therapeutic Device
• Wound Care Management
• Respiratory Care
• Others

By End User
• Hospitals and Clinics
• Home care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication
• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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