According to an article written by Amritt’s Gunjan Bagla and published in Medical Device Online, Bangalore in India is the new hotbed for medical device startups.
India’s medical device industry is growing at about 15 percent annually and is expected to reach $25 to $30 billion by 2025, according to an Economic Times report. This growth is being driven by a combination of indigenous manufacturing, exports, and local innovation.
India now is a springboard for developing medical device companies who envision a big future on a global scale. Despite global medtech giants’ domination of India’s medical device industry and unfavorable domestic regulations, these startups hope to make lifesaving medical technology more accessible in a country where high-quality, affordable healthcare is scarce. Their products and ideas stand ready to impact markets across Africa, low-income countries in South America, Asia, and even Eastern Europe.
Last updated: September 17th, 2024
