India’s medical electronics market to hit USD12 billion by 2017

 23-Jan-15, Business Standard

India's medical electronics market will grow to $11.7 billion by 2017, as against the current valuation of $6.5 billion, helped by increased awareness for healthcare delivery system in the country.

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"It is interesting to note that medical electronics market in India is growing at a 16 per cent compounded annual growth rate and is currently valued at $6.5 billion. This will grow to $11.7 billion by 2017 due to increased awareness about the benefits of healthcare delivery system, lifestyle diseases, exploding population and increased middle-class income," Capt R Raghavan, Senior Vice President of Medall Diagnostics, Chennai, said.

He further said, "The most important factor for this growth is the unprecedented increase in allocation of government budget for the healthcare sector (close to 2.5 per cent of GDP). Therefore the future of electronics is in the field of healthcare."

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