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Indian Medical Device Market Outlook to 2017

India medical device market: $5.1 billion industry estimated in 2012


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2014-01-23 14:34:03 - Indian Medical Device Market Outlook to 2017 - a new market research report on companiesandmarkets.com

India is a land full of opportunities for players in the medical devices industry. The Indian hospital services generated revenue of more than US$ 45 Billion in 2012. This revenue is expected to rise at a CAGR of 20% during 2012-2017 generating immense possibilities for players in the market.

Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep. Thanks to India´s economic growth and a rise in penetration of medical insurance, the 300 Million plus middle class population of India can now afford almost any of its healthcare needs. Such a scenario presents immense opportunities for players in the medical devices business.

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 markets in the world.

Currently, import constitutes almost 70% of the Indian medical devices market. A historical trend analysis of the total import value of medical devices in India shows that despite a depreciating currency, the trend to import has remained positive.

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