Market Opportunity
  • The medical device industry in India was valued at $ 1.7 billion in 2010 and it is expected to touch USD 2.2 billion by 2012

  • The cardiovascular devices market was valued at $212m in 2008 which is expected to grow by 13% annually for the next seven years to reach $493m in 2015

  • The Indian orthopedic devices market is forecast to grow by 11% annually for the next seven years to reach $558m in 2015

  • In 2008, less than 25 million people were covered under private health insurance and this number is projected to grow at double-digit rates, at least for the next seven years

  • According to statistics, 85 percent of our import requirements of medical devices are met from US, Germany and Japan

  • The medical instruments & appliances segment, which was at US$690 million in 2008, is further projected to reach US$1,236.5 million in 2012

  • India spent 5.2 percent of the GDP on healthcare, of which 4.3 percent was spent by the private sector valued at USD 22 billion, according to FICCI

  • The government, along with participation from the private sector, is planning to invest US$ 1 billion to US $2 billion in an effort to make India one of the top five global pharmaceutical innovation hubs by 2020

  • According to Economist Intelligence Unit forecast, the total spending on healtcare is expected to be 143 $US bn by 2014 instead of 77.3$US bn in 2010
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