India's import of medical devices increased by 17%, export by 26% during 2012-16
Between FY12 to FY16, the import of medical devices into India has increased by 16.8 per cent, whereas export increased by 25.7 per cent, as per the key findings of a government led study in collaboration with Andhra Pradesh MedTech Zone (AMTZ) and World Health Organisation (WHO).
Image: Emergo Group
India is one of the top 20 global medical device markets and the 4th largest medical device market in Asia.
Diagnostic imaging (e.g. CT scan, X-Ray, MRI, USG, X ray-tubes etc.), IV Diagnostic (lab equipment and reagents, etc.) and Other Medical Device (ECG, opthal equipment, heart lung machine, etc.) form 70% of total import in India in FY16.
However it is estimated that import trade will fall with increasing number of international and Indian manufacturers setting up medical device manufacturing in India.