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Medical Technology Market in India 2023 – 2028

Publisher Netscribes (India) Pvt. Ltd.
Published Nov 01, 2023
Length 104 Pages
SKU # NBS18326880

Description

Medical Technology Market in India 2023 – 2028


A transforming medical technology landscape, improving healthcare delivery and financing mechanisms, and changing patient profile are driving growth in the medical technology market. However, the industry has been stifled by some key impediments to growth. The foremost among these is the lack of - affordability, accessibility, awareness, and availability.

Market insights:

In terms of revenue, the medical technology market was valued at INR 1,200.22 Bn in FY 2023 and is estimated to reach INR 3,810.45 Bn by FY 2027, expanding at a CAGR of ~26.50% during the FY 2024 – FY 2028 period.

Though medical technology market has volumes lower than some industries, many global organizations in this space are making India the hub for manufacturing, as well as innovation, for products that cater to, and are designed for, both local and global markets. Additionally, some organizations have now started focusing on India as a component manufacturing hub for assembly plants located across the globe.

These are early trends but are also firm strides that India is taking in both manufacturing and innovation to pave the way for in-country end- to-end product development. Home grown entrepreneurs and the rise of the start-up ecosystem in the country, the third largest globally, are also boosting the medtech trend in India. While boosting exports of manufactured products is one way of driving growth, moving up the value chain and delivering innovation is another important opportunity for medical technology in India.

Segment insights:

The medical technology market is segmented into instruments and appliances, diagnostic imaging, consumables and implants, and patient aids and others. In FY 2023, the instruments and appliances segment dominated the medical technology market, accounting for 33.48% of the revenue generated. Diagnostic imaging was the second-leading segment, with a contribution of 24.33 % in FY 2023, followed by patient aids and others segment (23.50%). The market share of the patient aids and others segment is estimated to increase to 27.78% in FY 2028.

Impact of COVID-19:

With new features and increased security and scalability, the recently released eSanjeevani 2.0 has improved the telemedicine experience. India has also made considerable progress in its National Tele Mental Health Programme. Since its launch in October 2022, the Tele-MANAS Helpline has received over a million calls. More than 38 Tele MANAS Cells operate in 27 states and union territories, delivering mental health treatments in over 20 languages. First-line assistance are provided by 1,600 certified counsellors.

Table of Contents

104 Pages
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market overview
4.1. India medical technology market overview
4.1.1. Market size and growth forecast (FY 2022 – FY 2028e)
Chapter 5: Market segmentation
5.1. Medical technology market in India – Segmentation based on type
5.1.1. India medical technology market share (%) (FY 2023 and FY 2028e)
5.1.2. India instruments and appliances market size and growth forecast (FY 2022 – FY 2028e)
5.1.3. India diagnostic imaging market size and growth forecast (FY 2022 – FY 2028e)
5.1.4. India consumables and implants market size and growth forecast (FY 2022 – FY 2028e)
5.1.5. India patient aids and others market size and growth forecast (FY 2022 – FY 2028e)
Chapter 6: Impact of COVID-19
6.1. New era of technology driven healthcare in medtech
6.2. Rapid penetration of telehealth
6.3. Emergence of tele-radiology
6.4. Notable start-ups post COVID-19
Chapter 7: Trade analysis
7.1. Trade analysis
7.1.1. Export
Value-wise
Volume-wise
Country-wise
7.1.2. Import
Value-wise
Volume-wise
Country-wise
Chapter 8: Market influencers
8.1. Market drivers
8.2. Market challenges
Chapter 9: Government initiatives
9.1. Government initiatives
Chapter 10: Market trends
10.1. Market trends
Chapter 11: Competitive landscape
11.1. Opto Circuits Limited
Company information
Business description
Products/Services
Key people
Financial snapshot
Key ratios
Key financial performance indicators
Key business segments
Key geographic segments
Note: Financial information covered only for public companies.
11.2. Philips India Limited
11.3. Siemens Limited
11.4. TTK Healthcare Limited
11.5. Appasamy Associates
11.6. BPL Medical Technologies Private Limited
11.7. Forus Health Private Limited
11.8. Hindustan Syringes & Medical Devices Limited
11.9. Nidhi Meditech Systems
11.10. Trivitron Healthcare Private Limited
Chapter 12: Major start-ups
12.1. Major start-ups overview
Chapter 13: Recent developments
13.1. Recent developments
Chapter 14: Appendix
14.1. Research methodology
14.2. About Netscribes
14.3. Disclaimer

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