How Medical Device
Market is Positioned in India?
The
medical device market has witnessed a considerable shift in demand basis type
of devices from end users. High value capital equipments have dominated the
market in FY’2018. However, mobile device such as POCT and portable scanners
have surged in the market in recent years and gradually, the market is
witnessing the development in demand for high value technology segment which is
automated and customized to provide personalized solution to patient. The
medical device market in India was observed to be in growth stage during the
review period, FY’2013-FY’2018, and witnessed emergence of new players both
domestic and international as well as rising investment & partnerships.
India
medical device market size was evaluated at INR ~ crore in
FY’2013 which grew at a CAGR of ~% in the five year review period FY’2013 –
FY’2018. The medical device market is being driven by various factors increase
in public healthcare expenditure, increase in lifestyle related and chronic
disorders, increase in number of hospitals, growth in elderly population and
increasing penetration of medical insurance in the country. Indian Medical
Device market is dominated by IVD devices which are frequently used for
diagnosing various health ailments. Also, POCT devices have gained major
stimulus in the market due to their easy use, cost and time saving effort.
Categories such as Immunochemistry and Biochemistry were leading segments in
the IVD market in India.
India Medical
Device Market Segmentation
IVD Device: IVD device
contributed highest revenue in FY’2018. High cost of analyzers and high
consumption of reagents has led this market acquire the biggest pie of revenue
in medical device industry. Increase in number of patients with infectious
diseases has led the market achieve higher revenue in the review period
FY’2013-FY’2018. POCT, immunochemistry and biochemistry devices have gathered
major proportion of IVD Device industry. Few major trend witnessed in the
sector are laboratory automation, increase in demand for AI assisted platform
for decreasing the turnaround time, need for testing of multiple samples in
minimum turnaround time and possibility to provide this technology in low cost
mobile POCT device for increasing penetration in rural healthcare market.
Gradual increase in number of diagnostic labs have also led to this industry
realize higher revenue.
Diagnostic Imaging: India
diagnostic imaging market has grown at a CAGR of ~% from INR ~ crore in FY’2013
to INR ~ crore in FY’2018. Increase in number of road accidents and growth in
cancer burden in the country has provided a major push for this segment which
has resulted in this market acquiring ~% revenue share in FY’2018. Majorly,
MRI, CT and Ultrasound have taken major revenue share in this industry. The
sector has observed surge in demand of technology upgraded devices in the wake
of increasing demand to provide customized care for comprehending detailed
quality images of various organs.
Patient Aid: Patient Aid
device category was the least revenue contributing segment with a share of ~%
in the India Medical Device market in FY’2018. The market was valued at INR ~
Crore in FY’2013 and reached to a value of INR ~ Crore in FY’2018 and
registered a five year CAGR of ~%. The market saw growth due to factors such as
increase in the adult population in the country, rapid growth in number of
orthopedic surgeries and growth in patients with auditory loss. The market is
currently in the growth stage in India and expected to develop more in the
upcoming years.
India IVD
Device Market Segmentation
By Business Activity: Import of
IVD devices was the most revenue contributing segment in the India medical
device market with a share of ~% in FY’2018. Presence of high margins on
devices and ease of import has led to import of IVD products being preferred
business choice. It is followed by local production of devices in terms of
revenue contribution with contribution of ~% in FY’2018. It was also witnessed
that, analyzers with low cost of production started getting produced within the
country; however the presence of inverted duty structure has always favored
import of devices over local manufacturing.
By Sales Channel: Most IVD
devices are sold in the subcontinent through distributors. Distributors
accounted for ~% revenue share of the industry in FY’2018. Distributors are
required for expansion of business and penetration of new products to newer
geographies. On the other hand, direct sales of IVD instruments and reagents
generated INR ~ crore in FY’2018 which accounted for ~% revenue share in the
market. Largely, high end automated analyzers are sold directly by companies to
hospitals and labs that have partnered with them.
By Type of
Device: POCT devices occupied biggest revenue market share of ~% of the IVD
device industry in FY’2018. Immunochemistry device and reagent accounted for
revenue of INR ~ crore in the industry while Biochemistry occupied a revenue
share of ~% in IVD industry. Rising incidence of chronic disorders led
molecular diagnostics to garner market revenue of INR ~ crore in FY’2018.
By Type of POCT Device: In POCT
Device market, Blood glucose testing kits occupied the highest revenue share of
~% in FY’2018. Infectious disease testing kits acquired INR ~ crore of market
revenue while Blood gas electrolyte kits garnered INR ~ crore during FY’2018.
By
Immunochemistry Reagent and Instrument market: Immunochemistry
reagents market accounted for ~%
revenue share in immunochemistry IVD device market in FY’2018 while ELISA
captured ~% revenue share whereas Instruments gathered INR ~ crore in the same
period. Reagents captured greater share due to their repeated consumption for
analyzing health ailment in sample testing.
By
Biochemistry Reagent and Instrument Market: Biochemistry reagents market constituted
~% revenue share in biochemistry
IVD device market in FY’2018 while INR ~ crore of market revenue was generated
from instruments business. Largely, semi automated instruments have captured
the major proportion of biochemistry instruments market.
Key Segments Covered:-
IVD Device Market:
By
Business Activity (Import and Domestic Manufacturing)
By
Sales Channel (Distributor and Direct Sales)
By
Type of Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular
Diagnostics, Microbiology, Coagulation, Urinalysis and Others)
By
Type of POCT (Blood Glucose Testing Kit, Infectious Disease Testing Kit, Blood
Gas Electrolytes, Pregnancy and Fertility Testing Kit, Cardio Metabolic
Monitoring, Anticoagulant Management), Cholesterol Testing Kit and Others)
By Immunochemistry Reagent and Instrument
By Biochemistry Reagent and Instrument
By Hematology Reagent and Instrument
By Molecular Diagnostics Reagent and Instrument
By Microbiology Reagent and Instrument
By Urinalysis Reagent and Instrument
By Coagulation Reagent and Instrument
Diagnostic Imaging Market:
By
Business Activity (Import and Domestic Manufacturing)
By
Type of Device (MRI, CT, Ultrasound, X-Ray, Cath Lab and Nuclear Medicine)
By MRI Device (1.5T, 3.0T, 0.2-0.5T)
By CT Scan (16Slice, 64-128 Slice, <16 Slice
and >128 Slice)
By X-Ray (CR, DR and Analog)
By Cath Lab (Flat Panel Digital, Biplane and
Mobile)
By Nuclear Medicine (PET Scanner, SPECT and
Cyclotron)
Patient Aid Market:
By
Type of Device (Orthopedic, Hospital Furniture and Hearing Aid)
By
Orthopedic Devices
By Business Activity (Import and Domestic
Manufacturing)
By Type of Device (Joint, Trauma, Sports
Medicine, Spine and Orthobiologics)
By
Hospital Furniture
By Type of Device (Hospital Bed, OT Table and OT
Light)
By Type of Hospital Bed (Manual and Motorized)
By Type of OT Table (Imported and Indian)
By Type of OT Light (Imported and Indian)
By
Hearing Aids
By Business Activity (Import and Domestic
Manufacturing)
By Type of Device (Over the Ear and Inside the
Ear)
By Sales Channel (Dealer, Retail and Digital
Marketing)
Key Target Audience:-
IVD
Device Manufacturers
IVD
Reagent Manufacturers
IVD
Device Importers
Government
Agencies
Orthopedic
Device Companies
Hearing
Aid Companies
Hospital
Furniture Manufacturers
Diagnostic
Imaging Device Companies
Time Period Captured in the Report:-
Historical Period: FY’2013-
FY’2018
Forecast Period: FY’2019E –
FY’2023E
Companies Covered:-
IVD Devices:-
Roche
Diagnostics
Transasia
Biomedical
Beckman
Coulter
Biomerieux
Diagnostic Imaging:
Wipro
GE Healthcare
Siemens
Healthcare
Philips
India
Patient Aid:
J&J
Zimmer
Biomet
Smith
and Nephew
Arthrex
Stryker
Medtronic
Widex
Sivantos Audiology
Starkey
Laboratories
GN
Hearing
Sonova
For more information on the research
report, refer to below link:-
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Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
