India
Diagnostic Imaging Market Segmentation
By Business Activity: Import of
imaging devices accounted for revenue share of ~% in FY’2018. Import of imaging devices is mainly driven by
technological products that are at high end of the value chain such as CT and
MRI. Local production occupied a revenue share of ~% in the diagnostic imaging device market in FY’2018.
By Type of Device:
MRI captured highest revenue share of ~% in FY’2018 in diagnostic imaging devices market of India.
Higher cost of MRI machine (magnets) is a major driver behind realization of
greater revenue stream. CT accounted INR ~ crore market revenue whereas ultrasound garnered INR ~ crore in FY’2018. X-Ray accounted
for revenue market share of ~%
in FY’2018. Cath lab due to their frequent use in performing cardiac
catherization process garnered revenue of INR ~ crore in FY’2018. The remaining revenue market share was taken
by Nuclear medicine which has PET, SPECT and cyclotron devices.
By MRI
Device: 1.5T MRI captured ~%
revenue market share of MRI device market in FY’2018. 3.0T MRI realized ~% revenue market share of MRI device
market in FY’2018. 0.2-0.5T contributed to INR ~ crore of MRI market revenue.
1.5T MRI machines are cost effective in comparison with high field MRI. In
addition, at high field there is problem of tissue overheating which can cause
damage and RF field non-uniformity. This has led to the market being dominated
by 1.5T MRI.
By CT: 16 Slice CT
occupied highest revenue market share of
~% CT market in FY’2018. Preference towards provision of cost effective
imaging facilities is the major reason behind 16 slice category dominating the
Indian market. The <16 Slice CT segment accounted for ~% revenue market share In CT market
in FY’2018. 64-128 Slice CT realized INR ~ crore in FY’2018. The >128 Slice CT captured ~% revenue market share of CT market
in FY’2018.
By X-Ray
Device: CR (Computerized Radiography) captured ~% revenue market share of X-Ray device market in FY’2018.
Improvement in image quality and lowering of radiation exposure over
conventional X-ray films led to rapid growth in CR segment. DR (Digital
Radiography) registered revenue of INR ~
crore in X-ray market in FY’2018. Analog X-ray has a major market share in the
total market volume owing to its low cost and was able to acquire a revenue
share of ~% in FY’2018.
By Cath Lab: The flat
panel digital cath lab occupied ~%
revenue market share in cath lab market in FY’2018. Higher image resolution
needed for cardiac catherization needed to identify ailments in vascular system
and heart along with reduction in noise (optimal signal to noise ratio) are the
major reasons behind flat panel digital cath lab dominating the market. Biplane
occupied ~% revenue market share
in cath lab market in FY’2018. Premium pricing has led to this device being
able to occupy niche market.
By Nuclear Medicine: PET scanner
occupied ~% revenue market share
of diagnostic imaging nuclear medicine market in FY’2018. SPECT garnered
revenue of INR ~ crore in
FY’2018. The remaining market share was attributed to cyclotron business.
India Patient
Aid Market Segmentation
By Type of Device: The
orthopedic device industry captured the biggest share of ~% in pie of revenue in FY’2018 in
patient aid industry. This is because of increase in number of orthopedic
surgeries in the country which resulted in the expansion of orthopedic device
industry at a CAGR of ~% during
the period FY’2013-FY’2018. Hospital furniture industry has grown at a CAGR of ~% in terms of revenue during the
period FY’2013 to FY’2018 to revenue of INR ~ crore in FY’2018. The hearing aid market occupied ~% revenue
share in FY’2018 of the patient aid industry.
India
Orthopedic Device Market Segmentation
By Business
Activity: Imports drive major proportion of the market revenue of orthopedic
devices. In FY’2018, imports captured ~%
revenue share in the market. Local production of orthopedic devices generated
INR ~ crore in FY’2018.
By Type of
Device: Joints market constituted a revenue
share of ~% in orthopedic device market in FY’2018. Trauma market occupied a
revenue share of ~% in orthopedic device industry in FY’2018. Sports medicine
industry was valued at INR ~ crore in the same period while Spine market registered
a revenue share of ~%.
India
Hospital Furniture Market Segmentation
By Type of Hospital Furniture: Hospital beds constituted the biggest chunk, ~% of the revenue of hospital
furniture market in FY’2018. OT tables occupied ~% revenue share in hospital furniture industry in FY’2018 whereas
OT Lights constituted ~% revenue
share of the hospital furniture industry in FY’2018.
By Type of Hospital Bed: Manual
hospital beds constituted ~%
revenue share of the hospital bed industry in FY’2018, whereas motorized beds generated revenue of INR ~
crore in FY’2018.
By Type of OT
Table: The imported OT table segment garnered biggest revenue share of ~%
in OT table industry in India in FY’2018. Indian OT Tables captured ~% revenue share in OT tables market
in FY’2018.
By Type of OT
Light: Imported OT lights constituted ~%
revenue share in OT lights industry in FY’2018. Indian OT lights generated INR
~ crore in FY’2018.
India Hearing
Aid Market Segmentation
By Business Activity: Import
segment captured a revenue share of ~%
in the market in FY’2018. Due to the presence of superior technology, skilled
workforce and lower price of finished goods, hearing devices are largely
imported and local manufacturing has a very niche share in the industry. Local
production has garnered ~%
revenue share in this market.
By Type of Device: Over the
ear or non-customized hearing aid segmented dominated the hearing aid market by
acquiring ~% revenue share in
FY’2018. The remaining revenue market share was taken over by inside the ear
hearing aids.
By Channel of Sales: Sales of
hearing devices via dealers constitutes ~%
revenue share in the market. The reason for this is presence of dealers
throughout the subcontinent helps in business expansion to all areas in the
subcontinent. Retail segment has constituted ~% revenue share in hearing devices market in FY’2018. Digital
marketing is a niche segment of the entire market as it captures only ~% revenue share in FY’2018.
Competitive Landscape Covered in the
Report
Indian
medical device market is currently in its growth stage. In IVD device market,
the competition is highly fragmented with presence of approximately ~ number of
players as of FY’2018. Players such as
Roche, Transasia Biomedical, Beckman and Biomerieux have gathered significant
share in the industry, some of the other notable players are Abbott
Diagnostics, OCD, Bio-Rad Laboratories. In the Diagnostic Imaging device space,
Wipro, GE Healthcare, Siemens Healthcare and Philips are leading in most of the
device segments of the industry and the competition is rather concentrated. The
competitive scenario in the patient aid market saw different players leading in
various segments of the industry. The joints market with a revenue share of ~%
is rather concentrated with players such as J&J, Smith and Nephew and
Zimmer Biomet. The sports medicine market is dominated by companies such as
Arthrex with market share of ~%, Smith & Nephew and Stryker also occupied
significant market share in FY’2018. In the hearing aids industry valued at INR
~ crore, Widex Sivantos Audiology generated INR ~ crore by selling hearing aids
in FY’2018.
What is the Future Potential of India
Medical Device Market And Its Segments?
Indian
Medical Device market is expected to increase from the value of INR ~ Crore in
FY’2018 to the value of INR ~ Crore in FY’2023 and will witness a CAGR of ~%
during the period FY’2018-FY’2023. The growth in the market will be facilitated
by increase in number of hospitals, rise in public healthcare expenditure and
growth in elderly population.
IVD Device: The IVD
Device segment will continue to remain the leading segment in the India Medical
Device market and will reach to a value of INR ~ Crore in FY’2023 and is
expected to register a CAGR of ~% during FY’2018-FY’2023. The major growth
driver will be increase in number of patients with lifestyle related disorders.
Patient Aid: Patient Aid
will be the next leading segment in the market with the share of ~% in FY’2023.
The market will witness a CAGR of ~% during FY’2018-FY’2023 and will reach to a
value of INR ~ Crore in FY’2023. The market will witness positive growth due to
increase in penetration of medical insurance in the country due to ‘Ayushman
Bharat Scheme’ which will result in increase in number of surgeries owing to
subsidies and higher coverage. Also, increase in the elderly population in
India will affect the market growth positively.
Diagnostic Imaging: India
Diagnostic Imaging Market will witness a five year CAGR of ~% during
FY’2018-FY’2023 and will reach to a value of INR ~ Crore in FY’2023. The major
growth will happen due to factors such as increase in number of healthcare
establishments and growth in number of road accidents.
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research report, refer to below link:-
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Reports:-
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