2013-09-04 19:09:21 - New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research
OVERVIEW OF THE MEDICAL MARKET IN INDIA
India has the third largest GDP in Asia, behind China and Japan. Per capita GDP remains relatively low, however, at around US$1,488 in 2013. Economic growth hit a decade-low of 5.0% in 2012, but growth rates are expected to gradually pick up reaching 5.5% in 2013 and 6.0% in 2014. BMI is forecasting average real GDP expansion of 6.4% per annum over the next five years, driven, ultimately, by the Indian consumer. However, per capita income will remain less than a third that of China's at US$2,435 in 2018.
The private sector is the dominant healthcare provider, particularly in urban areas, and as such is the major end-user of medical equipment. High quality, high tech
products are sought after, particularly by facilities run by corporate groups such as Apollo Hospitals and Fortis Healthcare. An estimated 95% of all new hospital beds created in recent years have been in the private sector and future increased demand for medical equipment and supplies is likely to continue to come mainly from private sector hospitals and medical centres.
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Health insurance uptake remains low; private health insurance funds less than 5.0% of private health spending and only around 3.2% of total health expenditure. Since 2008, the government has funded a scheme to provide health insurance coverage for the very poor, which currently covers around 32mn families.
Detailed regulation of medical devices remains a work in progress. To date a number of implantable and sterile medical devices have been added to the Drugs and Cosmetics Act, bringing them into regulatory control and new guidelines for sterile medical devices came into force on 1st March 2006. The government has been working on the revision of rules in recognition of the need to consider medical devices as a separate category. The new regulations were to have been published as the Drugs, Cosmetics and Medical Device bill in the winter 2012 parliamentary session, but doubt remains over the future of the bill amidst reports that it does not meet the requirements of the medical device industry in its present form. In the meantime, the medical device industry has called on the government to come up with an interim regulatory mechanism in the form of a guidance document.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market
MAKING YOUR MARKET RESEARCH INVESTMENT WORK WITH POWERFUL ONLINE TOOLS
At no additional cost, all customers get access to Espicom Interactive. This advanced online service is easy-to-use and contains practical and valuable tools which will save you hours of time and effort.
Full text cross file searching with fast response or intuitive "drill down" into the content
Presentation-ready tables and graphics with "one click" output to other packages such as MS Excel and MS PowerPoint
View all tables and graphs independently from the text
Split screen for more efficient working
Instant machine translation into nine languages
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WITH THIS MARKET REPORT YOU CAN
Evaluate the potential of the market
Assess risks and opportunities on the basis of knowledge
Profile the market for new product, licences or collaborations
Understand the operating and regulatory environment
Gain a complete picture on health expenditure and infrastructure
Review the competitive environment
The Medical Device Market Hong Kong
The Medical Device Market Indonesia
For more information on our Medical Market Reports please click on the link to read more...
About Espicom Business Intelligence
Espicom Business Intelligence is a highly-regarded and established provider of business intelligence services. Founded in 1982 as MDIS Publications Ltd, the company changed its name to Espicom in 1992. Initially a publisher in a wide range of industries such as power generation and telecommunications, they now focus on the global pharmaceutical and medical device sectors. View more research from Espicom Business Intelligence at www.fastmr.com/catalog/publishers.aspx?pubid=1025
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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