Increasing healthcare infrastructure to fuel growth in the medical device market, finds Netscribes

18 Aug 2010 • by Natalie Aster

Netscribes (India) Pvt. Ltd., launches Medical Devices Market in India 2010 report covering the most emerging segment of healthcare industry in India. It is a part of Netscribes’ Healthcare Industry Series reports.

Mumbai, India – August 18, 2010 – Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of its report Medical Devices Market in India 2010. The industry is one of the most unregulated segments of the healthcare sector in India and with large scale imports. However, with growing interests of the government, associations and players, the market is growing and India is becoming a hub for manufacturing high-end medical devices. The industry shows great potential in terms of the increasing privatization in healthcare and rapid expansion in hospital infrastructure.

The report begins with an introduction of medical devices in India and their classification based on relative parameters set by the Indian Government. The market overview section provides the market size and growth. It also provides an overview of the segments that are existent in the market along with their market share. The import and the export structure of the medical devices in India are also given.

This is followed by an analysis of the drivers fueling growth in the market including increasing hospital infrastructure, increasing healthcare spending, changing demographics and growing target consumer group, increasing lifestyle diseases and therapies and increasing medical tourism in India. The key challenges identified include high dependency on exports and lack of standard regulatory structure. The key trends in the market have also been identified including outsourcing/relocating of manufacturing facilities, increasing joint ventures and tie-ups and various exhibitions and trade fairs.

The involvement of government in this industry is also included. It shows the role of various government bodies that are involved in regulating this sector and also involved in the promotion of this sector in India. It also highlights the regulations set in terms of assessment of a medical device manufacturing organization in India along with the procedure involved in registration of an organization and procurement of an import license. The initiatives taken by the government in order to promote the sector by providing tax reliefs and import duty relaxations have also been highlighted.

The competitive landscape provides a look into the nature of the market, and the active players in the market. A product portfolio matrix is also given to highlight the dominant player in each segments of the market. Profiles of the major domestic and foreign players have been included. Furthermore, key developments in the market over the last one year have also been highlighted.