The
report titled 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)” provides a
comprehensive analysis of the medical device market in India. The report also
covers the overview and genesis, overall industry revenue, segmentation by
product category and channels of distribution for IVD, diagnostic imaging,
patient aid market, trends and developments, issues and challenges, government regulations,
value chain analysis, SWOT analysis, competitive scenario and company profiles
of major players. The report concludes with market projection and analyst
recommendations highlighting the major opportunities and cautions for new and
existing players in the market.
India
Medical Device Market Overview and Size
India Medical
Device market grew at a double digit growth rate over the review period
FY’2013-FY’2018. The market growth was supported by increase in public
healthcare expenditure, growth in healthcare infrastructure in the country by
expansion in established hospitals and increase in number of hospitals and rise
in elderly population. The market was observed in growth stage and will
continue to remain so in the forecasted period, FY’2018-FY’2023. The demand for
personalized patient care and chage in decision making authority from doctors
to hospital administration has significantly affected the growth in the market.
India
Medical Device Market Segmentation
IVD devices were
the leading category in FY’2018. Rise in the number of patients with chronic
and lifestyle related disorders is the key growth driver for IVD segment This segment was followed by Diagnostic
Imaging market in which MRI and CT gained major revenue share in the imaging
industry as demand for detailed analysis and improved imaging positively
impacted the market. The Patient Aid market witnessed strong growth even after
introduction of price regulation on implants due to strong growth sentiment in
emerging market area such as sports medicine and inside the ear hearing aid
industry.
Competitive
Landscape in India Medical Device Market
India
IVD Device Market: The competitive scenario in
IVD device market is highly fragmented as there are numerous players which are
operating in different device segments. Major
players include Roche Diagnostics, Transasia Biomedical, Beckman and Biomerieux
who captured significant revenue share in FY’2018. Other companies such as
Abbott Diagnostics, OCD, Bio-Rad Laboratories, and Siemens occupied remaining
share in the industry in FY’2018.
India
Diagnostic Imaging Market: The diagnostic imaging
witnessed companies such as Wipro GE Healthcare, Siemens Healthcare and Philips
leading in various device segment of the industry. In MRI market, Siemens
gained the top spot in terms of revenue market share in FY’2018. Other players
such as GE, Philips, Canon Medical, Hitachi and Sina Healthcare occupied the
remaining revenue pie of the MRI market in FY’2018. In CT market, Wipro GE
Healthcare registered highest revenue market share while Canon Medical (Erbis)
and Philips occupied significant revenue share in the CT industry in FY’2018.
In Ultrasound market, Wipro GE healthcare emerged as a market leader while players like Philips, Samsung
Healthcare and Mindray occupied significant position in revenue pie of the India
ultrasound market in FY’2018.
India
Patient Aid Market: The competitive scenario in
the patient aid market saw different players leading in various segments of the
industry. The joints market is rather concentrated with players such as J&J,
Smith & Nephew and Zimmer Biomet. J&J also emerged as a leader in
trauma market followed by Zimmer Biomet. Competition is fragmented in this
market space of orthopedic devices. The sports medicine market is dominated by
companies like Arthrex, Smith & Nephew and Stryker which occupied major
market share in FY’2018. In the spine segment that has fragmented competition
structure, Medtronic gained the topspot followed by J&J, whereas in the India
hearing aid market, Widex Sivantos Audiology emerged as a market leader with highest
revenue share followed by Starkey Laboratories, GN Hearing and Sonova Hearing
in FY’2018.
India
Medical Device Market Future Outlook
The medical device market of India will expand at double
digit growth rate in the forecasted period FY’2019-FY’2023. In vitro device
market is expected to register biggest revenue share in the industry followed
by patient aid device market. Import of IVD device will positively drive the
IVD market while sale of IVD devices will largely be made via distributors in
the subcontinent. POCT and Immunochemistry will gather biggest share in the
revenue pie of IVD device market. The diagnostic imaging market is expected to
witness major revenue of the market being captured by MRI and CT device. The
medical device market is expected to witness innovation and development of cost
effective technologies owing to rising investments and will also witness growth
in domestic manufacturing of various types of devices owing to government’s
efforts to reduce import bill.
In patient aid industry, orthopedic device will lead the market with
highest revenue market share
followed by hospital furniture industry while hearing aid market is expected to
realize higher revenue owing to technological innovations in the 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
India
Medical Device Market Value Chain Analysis
India
Medical Device Market Overview
India
Medical Device Market Size
India
Medical Device Market Ecosystem
India
Medical Device Market Segmentation
India
IVD Device Market Segmentation
India
Diagnostic Imaging Device Market Segmentation
India
Patient Aid Market Segmentation
Government
Role and Regulation in India Medical Device Market
Trends
and Developments in India Medical Device Market
Issues
and Challenges in India Medical Device Market
Competitive
Scenario in India Medical Device Market
India
Medical Device Market Future Projections, FY’2018-FY’2023E
Analyst
Recommendations
For
more information on the research report, refer to below link:-
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+91-9015378249
