Market Trends of India Patient Monitoring Industry
This section covers the major market trends shaping the India Patient Monitoring Market according to our research experts:
The Respiratory Segment is Expected to Witness High Growth Over the Forecast Period
Rapid urbanization in the country and a large amount of pollution have contributed to a higher incidence rate of respiratory diseases along with an increasing number of tuberculosis (TB) patients, which is contributing to the growing demand for patient monitoring systems. For instance, according to the article published by the National Library of Medicine, in August 2021, the prevalence of COPD among the population aged 30 years and above in India was found to be 7% in 2021. Such studies demonstrating the prevalence of respiratory diseases in the country are driving the demand for respiratory devices, ultimately boosting market growth. Additionally, according to the National TB Prevalence Survey 2019-2021, the prevalence of all forms of tuberculosis for all ages in India was 316 per lakh population for the year 2021. It also reported that the highest prevalence for all forms of TB was 747 per lakh in Delhi and the lowest was 137 per lakh population in Gujarat in 2021. Further, as per the same source, annual TB cases in India rose 19% to 1,933,381 in 2021. It also stated that India remains the highest contributor to global TB cases accounting for 26% of all the total cases around the world. Thus, increasing cases of tuberculosis and other respiratory diseases contribute to increasing demand for patient monitoring in India.
Besides, companies are developing advanced technologies, receiving approvals from regulatory bodies, launching new products, and forming strategic alliances with the market players to stay competitive in the market. For instance, in April 2022, Sleepiz and SMS Hospital partnered to bring Sleepiz One+ to Ahmedabad. Sleepiz One+ monitors three key vital signs of a patient - pulse rate, blood oxygen saturation, and respiration rate. Hence, such technological advancements and launches are supposed to encourage the growth of the segment.
Weight Management and Fitness Monitoring Segment is Expected to Witness High Growth Over the Forecast Period
The weight management and fitness monitoring segment is expected to witness significant growth over the forecast period due to the increased prevalence of obesity. For instance, according to the 2022 statistics published by Global Obesity Observatory, there are currently 6.3% obese women and 4.7% obese men in India. It also stated that the percentage of obese boys and girls are 1.8% and 0.9% respectively in the country in 2022. Thus, the increasing number of obesity cases among the population is expected to increase the demand for weight monitoring that help them to manage their weight, thereby supporting the market growth.
Furthermore, product launches for tracking fitness are also expected to drive segmental growth. For instance, in September 2022, Fitbit expanded its smartwatch lineup in India by launching three new fitness trackers. The company has launched Fitbit Versa 4, Fitbit Sense 2 fitness watches, and the Fitbit Inspire 4 fitness tracker. The company claims that all three models sport an improved design and promise to offer better performance. Also, in January 2021, OnePlus launched a fitness band in India that features a 14-day battery life, 5ATM, IP68 water resistance, and a dual-color band design. Such initiatives are expected to drive the market in the forecast period.
Thus, owing to the abovementioned factors, the studied market in India is expected to project growth over the forecast period.
