|
Medical Device
Manufacturing in India - A Sunrise Industry
|
Srinivas R. Pilli
Sr. Technical Officer
Andhra Pradesh MedTech Zone (AMTZ) |
Medical Device Market
Medical Device Market Size – Global
• The global medical device market was estimated at
USD 228 bn in 2015 (INR 14.82 lakh crores).
• Industry estimates suggest that the global medical
device market will grow at a CAGR of 7.8% from 2010 to
2020.
• The market is expected to reach USD 332 bn (INR
21.58 lakh crores) by 2020.
Figure 1 : Global Medical Device
Market Size |
Global Medical Devices Market
.• The global medical device market is categorized
mainly into seven segments as listed below. The major
equipments included under each of these segments have been
detailed in Table.1. High Potential Segments in India.
• Diagnostic imaging
• Orthopedic and prosthetic devices
• Patient aids
• Consumables
• Dental products
• IV diagnostics
• Others
• Diagnostics imaging is the largest segment constituting
26% of the medical device market, with an annual sales
estimate of USD 60 bn (INR 3.85 lakh crores) in 2015.
Table 1: Share of Medical Device Segments Globally
| Medical Device Segment |
USD bn (2015) |
INR crs (2015) |
| Diagnostics imaging |
59.28 |
3,85,320 |
| IV diagnostics |
54.5 |
3,54,250 |
| Orthopedic and prosthetic devices |
29.64 |
1,92,660 |
| Consumables |
34.2 |
2,22,300 |
| Patient aids |
22.8 |
1,48,200 |
| Others |
13.9 |
90,350 |
| Dental products |
13.68 |
88,920 |
Segment Wise Medical Device Sale Globally (2015)
Figure 2 : Segment-wise sale globally
|
Srinivasa R Pilli, holds his
Masters in Biomedical Imaging from the University of
Dundee, a collaboration between Institute of Medical
Science and Technology (IMSaT) and Ninewells Hospitals
UK; PG Diploma in Clinical Research for Medical
Devices, Tenet Health Edutech Pvt. Ltd. He is also
holds Bachelors and Diploma in Biomedical Engineering
from JNT University and SGPR Govt Poly College.
He is currently working as a Senior
Technical Officer at Andhra Pradesh MedTech Zone (AMTZ),
Visakhapatnam, which is Asia’s first Integrated
Medical Devices Manufacturing Park and it’s a “One
stop solution” for Medical Device Manufacturers &
Innovators. He has more than 9 years of experience in
the field of Medical Devices industry.
Mr Srinivasa is also an associate
member of Institution of Engineers (AMIE), Biomedical
Engineering Society of India (BMESI), International
Association of Computer Science and Information
Technology (IACSIT), Asia-Pacific Chemical,
Biological& Environmental Engineering Society (APCBEES)
and a Life member of Indian Science Congress and Voice
of Healthcare (VOH). |
1 Analysts: Device market growth will
outpace pharma by 2018, http://www.fiercebiotech.com/medical-devices/analysts-device-market-growth-will-outpacepharmaby-2018,
Cunningham, Dolan, et al, Medical Device Sectoral
Overview, Whitaker Institute and NUI, Galway, April 2015,
http://galwaydashboard.ie/publications/medical-sector.pdf
(accessed on 10th July 2015), Opportunities, Ecosystems &
Roadmap to Innovations in the Health Sector, Report of
Sector Innovation Council for Health, NHSRC, KPMG Analysis
. |
