India Medical Device Market Outlook 2018-2023Posted by Sophia Jones on July 13th, 2019 Market Reports on India Provides the Trending Market Research Report on “Medical Device Market in India (2018-2023)” under Medical Devices category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports. Developments in healthcare infrastructure, and a rise in lifestyle related diseases like hypertension, diabetes, asthma, etc. have led to an increasing demand for medical devices across India. The Indian Medical Devices Market was valued at INR 338.62 Bn in 2017, and is expected to reach INR 794.29 Bn by the end of 2023, expanding at a compound annual growth rate (CAGR) of ~15.27% during the 2018-2023 period. It stands among the top 20 global medical devices market. Market segment insights: The diagnostic imaging segment is considered to be the largest, owing to its ability to facilitate accurate detection of diseases. It had a market share of nearly 30.41% in 2015, and is expected to occupy a similar share till 2020. Apart from diagnostic imaging devices, significant shares in the medical devices market are occupied by medical consumables, IV diagnostic devices, patient aids, etc. Request a free sample copy of Medical Device Market Report @ http://www.marketreportsonindia.com/marketreports/sample/reports/1602441
Key growth drivers of the market: -The central government of India, as well as several private organizations have taken initiatives to improve the condition of public health within the country. Such participation from the public and private enterprises have resulted in the growth of the healthcare sector, thereby leading the medical devices market in India to prosper. -The Indian government has allowed 100% foreign direct investment (FDI) in the medical devices industry. Inflow of FDI is expected to spur research and development (R&D) activities and manufacturing innovations, which in turn can help in driving the growth of the medical devices market in India. Key deterrent to the growth of the market: India imports nearly 70% of the total number of medical devices sold in the country. Excessive dependency on import of high-tech devices from the developed countries is hindering the growth of the domestic medical devices’ manufacturers in India. Companies covered: -Centenial Surgical Suture Ltd. -Opto Circuits (India) Ltd. -Poly Medicure Ltd. -B. Braun Medical (India) Pvt. Ltd. -Philips India Ltd. -Baxter International Inc. -Becton, Dickinson and Company -GE Healthcare Ltd. -Medtronic, Inc. -Siemens Healthineers, Inc. Browse our full report with Table of Contents : http://www.marketreportsonindia.com/marketreports/medical-device-market-in-india-2018-2023-/1602441 About Market Reports on India: Market Reports on India is an excellent source to obtain top quality market research reports that helps you to understand the business in the Indian market. We cover various industries, identifying and understanding key macro and micro-economic trends, insights and futuristic growth opportunities. To help achieve all this and more, Market Reports on India is the answer to all your business needs. Contact us at: Market Reports on India Tel: +91 22 27810772 / 27810775 Email: info@marketreportsonindia.com Website: www.marketreportsonindia.com Follow us on : Twitter, Facebook, LinkedIn Like it? Share it! More by this author |
