“Rising importance of affordable healthcare facilities and
growth in number of chronic disease patients in the country has driven the medical
device sector in India”.
Analysts
at Ken Research in their
latest publication “India Medical Device Market Outlook to 2023 - by IVD
Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by
Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import)
and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing
Aid)” believe
that the medical device market in India has been increasing due to rising healthcare expenditure, increase in number of
healthcare establishments and increasing penetration of medical insurance in
the country. The market is expected to register a positive CAGR of 10.8% in
terms of revenue during the forecast period 2018-2023E.
Rise in Chronic Diseases and Lifestyle Changes: Lifestyle related changes have resulted in growing number of
patients with cardiac disorders and life threatening disease such as cancer.
This has led to positive growth in medical device sectors such as diagnostic
imaging as more number of Cath labs and nuclear medicine screening facilities has
to be established for proper diagnosis of patients in order to provide
customized solutions. This in turn has led to healthy growth for medical device
sector in recent years.
Growing Healthcare Expenditure: The public healthcare expenditure stood at INR 213,719.6
Crore in FY’2018. The government of India has been taking regular initiatives
to increase this expenditure to level of 2.5% of country’s GDP by 2025 in
regards to its National Health Policy. Increase in healthcare expenditure has led
to successive Greenfield and Brownfield growth in hospital sector.
Consequentially, this has led to increase in revenue of the medical device industry
as new capital systems, upgraded with latest technology are installed at
various healthcare facilities.
Growing Orthopedic and Auditory Loss Population: Rising elderly population has led to higher demand for implants
and hearing aids. Also, with new technologies being introduced in Orthobiologics
and sports medicine and rising demand for personalized cure, vendors in the
industry have started achieving greater revenue in recent years. Also, factors
such as increase in number of road accidents and rising number of people suffering
with auditory loss has augmented the demand of varied medical devices in the
country.
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:-
Related
Reports:-
India Medical Consumables
Market Outlook to 2023 – Driven by Surge in adoption of Innovative Medical
consumable products coupled with Rising Outpatient Revenue
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
