Medical Consumables Sector in India Driven by Increasing Pool Of Well-Trained Medical Professionals And Country’s Healthcare Cost Competitiveness Compared To Its Peers In Asia And Western Countries: Ken Research

“India has become one of the leading destinations for high-end healthcare services with tremendous capital investment for advanced medical facilities and also offers vast opportunities in R&D as well as medical tourism which have positively impacted the medical consumable Industry of India.”

The report titled “India Medical Consumables Market Outlook to 2023 – Driven by Surge in adoption of Innovative Medical consumable products coupled with Rising Outpatient Revenue” by Ken Research recommends that the companies operating in medical device market of India can expand their market share and increase revenue generated by increasing awareness among the consumers, increasing investments in the R&D, adopting advanced and innovative medical consumable products, improvement in the marketing strategies, provide training to the sales executives and others. The market is expected to register a positive CAGR of 11.6% in terms of revenue during the forecast period 2018P-2023E.

Increased awareness regarding treatment of chronic and acute wounds: Over the years, India has witnessed an increase in the awareness regarding treatment of chronic and acute wounds such as diabetes, mellitus, atherosclerosis, tuberculosis and leprosy. Both chronic and acute wounds cases have inclined by 3-4% annually in the last five years. In accordance with India Heart Association, India accounts for 60.0% of the world’s heart disease which have been increasing over the years. The country also witnessed about 65 million diabetes patients, and about 80% of those cases are caused by obesity. The dengue cases in India increased from 60,000 in 2009 to 188,401 in 2017 as reported by National Vector Borne Disease Control Programme. Whereas, according to the Union Health Ministry the number of dengue case observed in 2018 (up till September) was around 40,000.

Emergence of Domestic and International Companies: Owing to the increasing health issues in the country, opportunities for the medical device and consumable companies have increased over the years. Factors such as rising population, low cost manufacturing, minimal entry barrier and others have lead to the entrance of both the international and domestic companies in India. Each product category in the market has an extensive list of manufacturing companies which includes both international and domestic companies.

Rising Government Initiatives: Government initiatives such as National Rural Health Mission, National Urban Health Mission, Ayushman Bharat Yojna, Make in India and others have contributed for the development of medical consumables market in India. Make in India initiative was launched by the Government of India in the year 2014 to encourage companies to manufacture their products and to boost entrepreneurship in India, not only in the manufacturing sector but also other sectors. The government’s flagship scheme Ayushman Bharat PMJAY, in its first year managed to empanel over 15,000 hospitals and has already benefitted over 27 lakh patients in India. The Ayushman Bharat scheme is expected to grow the health insurance market in India.

Key Segments Covered:-

By Type of Business Activity:

Local Production

Import

By Mode of selling:

Distributor Mediated

Direct Sales

By Type of Medical Consumables:

Wound care:

Traditional Wound Care:

Gauze

Dressing

Tape and Bandage

Compression Bandage and Plasters

Advanced Wound Care

Dressings:

Advanced Silver Dressings

Foam

Collagen

Hydrocolloid

Alginate

Devices:

Negative Pressure Wound Therapy

Pressure Relief

Hyberbaric

Syringes

Sutures:

Absorbable:

Synthetic

Catgut

Non -Absorbable

Catheters:

Urinry and PI

Cardiovascular catheter

Haemodialysis Catheter

Others

IV Cannula

IV Set

Blood Bags:

Single Bags

Multiple Bags:

Double Bags

Triple Bags

Quadruple Bags

Inline Filter Bags

Ostomy

Needle

Others:-

HME

Endotracheal Tubes

Tracheostomy Tubes

By Type of Material Used For Wound Care Market:-

Glass

Plastic

Textile

By End users:-

Hospitals

Clinics and dispensaries

Others

By Region:-

South

North

West

East

Key Target Audience:-

Medical Consumable Manufacturers

Raw Material Suppliers

Medical Consumables Distributors

Ministry Of Health

Venture Capitalist

Time Period Captured in the Report:-

Historical Period - 2013-2018

Forecast Period - 2019-2023E

Major Companies Covered:-

Hindustan Syringes & Medical Devices Limited

Poly Medicure

Datt Mediproducts Pvt. Ltd.

Sutures India

Romson Group

Becton Dickinson India Pvt. Ltd

B Braun Medical India Pvt. Ltd

Coloplast India Pvt. Ltd

BSN Medical Pvt. Ltd

Terumo Penpol India Pvt. Ltd

Other Players

India Medtronic Pvt. Ltd

Hollister Incorporated

Vygon

Smiths Medical India Pvt. Ltd

Triage Meditech Pvt. Ltd

Fresenius Medical Care India Pvt. Ltd.

Meril Life Sciences India Pvt. Ltd

Teleflex Medical

Lotus Surgical

Centenial Surgicals

Global Medikit

Hemant Surgicals

Peter Surgicals

Convatech

3M

Smith and Nephew Healthcare Pvt. Ltd

For more information on the research report, refer to below link:-

India Medical Consumables Market

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