The motors driving growth are: increased expansion of the market for private hospitals, growing as an outsourcing location for laboratory testing, attractive market for medical tourism, and changed living conditions.
India is considered to be the most promising growth market for medical technology in the world. This is due in particular to a growing population, an increasing occurrence of diseases of affluence (notably diabetes and cardio-vascular diseases), a growing number of elderly people, and the establishment of health insurances.
National hospitals are considered to be poorly equipped – standing in queues and failure to respect privacy are commonplace. In contrast, private clinics operate with highly qualified doctors of a first-class international standard.
According to Deloitte, the overall market volume is around 50 billion. The segment with the strongest growth is the market for electronic systems, where annual growth of 17%, to almost US $ 6.5 billion, is expected for the period up to 2020. Medical appliances account for 55% of the market for medical technology, implants account for 25% and disposable products for 20%.
Local production is not expected to be increased in the foreseeable future, since on the one hand, Indian health service organisations do not operate in the high-end sector, and on the other hand, the Indian government focuses on basic medical care for poorer inhabitants.
According to the Ministry of Health and Family Welfare, nowadays as much as 80% of the medical technology required is imported, with the level of import dependence being particularly high for technically sophisticated products. The USA, Japan, Germany, Singapore and the People's Republic of China are the most important countries for imports.
Approximately 20% of the required electrical diagnosis devices and appliances, and X-ray equipment, is imported from Germany - this figure is around 30% for ophthalmological instruments (source: UN Comtrade, May 2012).
Medical products that will be needed in future are (acc. to Deloitte and Frost & Sullivan) are:
Our partner agency in India will gladly give you advice should you be striving to expand to India.
(Maria Klaas, Klaas consulting, www.klaasconsulting.com, email@example.com)[Back]