Post

India medical devices market to touch $11bn by 2023

India medical devices market to touch $11bn by 2023

According to Visiongain (a London-based business information provider), the medical devices market in India is expected to be worth $11 billion by 2023. India is one of the most lucrative markets for medical devices globally. Indeed, the Indian medical devices market generated $3 billion in sales in 2011. The opportunities lie in the emerging regions of the country.

Seeing that the market relies largely on imports, the country provides significant opportunities for multinational medical device manufacturers. The domestic manufacturers are mostly engaged in low-value products like syringes, needles, catheters, blood collection tubes, medical electronics, medical equipment and implants.

Moreover, the Indian medical devices market will benefit from the expansion of health insurance, which currently is the fastest growing non-life insurance segment in the country and from patient demographics, particularly with the rise in the country’s aging population.

However, according to the  report, the lack of strict regulation of several medical devices in the country will be a challenge in the future as the devices reaching the market become more complex and the end-users demand quality for the price.

Share

About Amritt

Who We Are

Small or big, your business will love our financial help and business consultations! We are happy when our clients are too… Actually, this is quite simple to achieve – because each time we help them in sorting out different accounting intricacies or save the day before filing the taxes, they are happy indeed! And so are we.   

We have over Twenty years of experience helping our clients succeed in India
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Blog
Page
Dictionary
Comparisons
Capabilities
India Business Guide
Services
Private
Speaking
Insights
White Papers
News
Newsletters
Clients
Case Studies
Companies In India
Webinars
Presentations
Industries