Medical devices from India add USD5.2 bn to national health industry
18-Oct-17, Financial Express
As per the government’s Make-in-India survey, the medical devices industry in India is valued USD5.2 bn, and contributes 4-5% to the USD96.7 bn Indian healthcare industry. Currently, India has about 750-800 medical device manufacturers, with an average investment of INR170-200 mn and an average turnover of INR450-500 mn.
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Image: Reuters
The Indian medical devices market will grow to a USD50 bn industry by 2025. Currently, India is the fourth-largest market in Asia after Japan, China and South Korea. The government's move to allow 100% FDI in the segment has also helped the industry attract foreign capital.
Against this backdrop, it appears that the medical devices industry will be a key growth-driver for India. However, the latter half of the year has seen the government undertaking price-capping measures - these have given the diametrically-opposite signal to the industry.