Indian Medical Device Manufacturers Witnessing Tremendous Growth

In a country that imports almost 70% of its medical devices; domestic manufacturers are basking in the opportunity by providing locally designed products and selling them at nearly 1/10th the price of imported goods, says RNCOS.


Noida, UP -- (SBWIRE) -- 11/08/2013 -- Unlike other industries in India, healthcare has been observed to be resistant to price sensitivity. Physicians and surgeons prefer the use of imported goods due to their superior quality and proven clinical records. But gradually, the market for locally manufactured good is rising in India. It is expected to grow by around 17% during 2012-2017 mainly backed by demand from expanding healthcare infrastructure in Tier II, III cities and rural regions. Trivitron, Phoenix Medical Systems, Transasia Bio Medicals Ltd. are few of the over 700 local manufacturers present in India.

The report, “Indian Medical Device Market Outlook to 2017”, provides an extensive research and in-depth analysis of the current status and future outlook of the Indian medical devices market. The market which stood at around US$ 5.1 Billion in 2012 is expected to grow at a rate of around 16% during 2012-2017, representing one of the fastest growing medical devices market in the world.

The study further delves into the market by categorizing it on the basis of application of medical devices. The major categories covered involve Medical and Diagnostic Equipments; Medical Implants; Medical Disposables and Supplies. Also, the market has been studied on the basis of imports, exports and local manufacturing of products. Insights on the current market and future outlook to 2017 will equip companies with business intelligence that will help them in aligning their operations with market growth and maximize their earnings.

Other important parameters that will particularly help foreign medical device manufacturers in knowing India better include knowledge on the distribution system and regulatory environment in India. The report will help built understanding on the various registration requirements in the country and will help companies in their regulatory compliance planning and efforts. Besides, the study provides the latest market trends, drivers and challenges with an overview of the current competitive landscape. All in all, the report is a comprehensive review of the current and expected outlook of the Indian medical device market by 2017, making it a must buy for everyone keen on making the most in one of the fastest growing medical devices market in the world.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.