Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • News
    • Implants / Devices
    • Medical devices market...

    Medical devices market to witness $8.6 billion growth 2020: Report

    Written by savita thakur thakur Published On 2016-03-21T11:00:38+05:30  |  Updated On 21 March 2016 11:00 AM IST
    Medical devices market to witness $8.6 billion growth 2020: Report
    Mumbai: Domestic medical devices market is estimated to grow organically at 15 per cent to $8.6 billion by 2020 and industry estimates indicate a much larger potential to grow to $50 billion by 2025, says a report.

    "The domestic medical devices industry is small, with a disproportionate reliance on imports and a complex regulatory environment. The market is estimated to grow organically at 15 per cent to $8.6 billion by 2020, significantly higher than global industry growth of 4-6 per cent," a report by Deloitte and NATHealth said.

    The global medical devices and technology market is expected to grow to $520 billion by 2020 from an estimated $3.7 billion in 2014.

    Medical devices play a role not only in screening, diagnosing and treating patients but also in restoring patients to normal lives and in regularly monitoring health indicators to prevent diseases.

    With technological advancements, the role of medical devices is now expanding to improve quality of care across each stage of the healthcare continuum.

    The industry is largely dependent on imports with most local manufacturers producing products in the lower end of the technology value chain, the report said.

    The country's healthcare industry is on a high growth trajectory having evolved significantly in the last decade. From the current levels, the industry is expected to reach $145 billion by 2018 and over $280 billion by 2025. In this scenario, augmenting healthcare infrastructure due to increased demand and improved access is expected to provide the requisite industry growth.

    The current per capita spend on medical devices in India is significantly low at $3, compared to other economies such as $7 in China, $21 in Brazil and $42 in Russia.

    The Government of India's 'Make in India' initiative presents a platform for the sector to revisit the operating model, identify key imperatives for growth and explore possibilities for creating a step change in the medical devices sector, the report said.

    The Central government has in recent years, implemented several policy measures to address the challenges of medical devices industry. Some of these include, Draft Drugs & Cosmetics Amendments Bill (2015), 100 per cent FDI in medical devices under automatic route and 'Make in India' initiative for promoting indigenous manufacturing.
    Deloitte and NATHealthDraft Drugs & Cosmetics Amendments BillFDIforeign direct investmentMedical Devices
    Source : PTI

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    savita thakur thakur
    savita thakur thakur
      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 13 Oct 2022 5:14 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier
      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2025 Minerva Medical Treatment Pvt Ltd

      © 2025 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      X
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok