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Medical Device
Manufacturing in India - A Sunrise Industry
• IV Diagnostics is the second largest segment with an
estimated 24% share at approximately USD 54.5 bn (INR 3.54
lakh crores).
• Dental products including dental implants, dental chairs
and equipment account for the smallest share of USD 13.68
bn (INR 88,920 crore).
• Americas (both North and South) is the largest medical
device market globally at 45% of the total global medical
device sale.
• Western Europe is the second largest market at 27% of
the total global medical device sale
• Asia is the third largest market at 21% of the total
global medical device sale.
Geography Wise Sale of Medical Devices (2015)
Figure 3 : Top Medical Device Markets Globally
| Geography |
USD Bn (2015) |
INR Cr.(2015) |
| Americas |
102.6 |
6,66,900 |
| Western Europe |
61.56 |
4,00,140 |
| Asia |
47.88 |
3,11,220 |
| Eastern Europe |
9.12 |
59,280 |
| Middle East and Africa |
6.84 |
44,460 |
Geography-wise medical device market
• It is estimated that 65-70% of the total global medical
device market is driven by 20 global medical device
companies.
Indian Medical Device Market
• The Indian medical device market hasgrown from USD 2.02
bn (INR 13,130 Crores) in 2009 to USD 3.9 bn (INR 25,259
Crores) in 2015 at CAGR of 15.8%3. This accounts for
approximately 1.7% of the global medical device market in
2015.
• The Indian Medical Device market contributes to 4% of
the Indian healthcare market which is pegged at USD 96.7
bn (INR 6.29 Lakh Crores), in 2015.
• The industry estimate suggests that the Indian medical
device market will grow to USD 8.16 bn (INR 53,053 crore)
in 2020 at CAGR of 16%.
Diagnostic imaging is the largest segment within Indian
medical device market in 2015. It constitutes USD 1.18 bn
(INR 7,650 crores) in 2015 and will grow to USD 2.47
bn (INR 15,561 Crores)3 in 2020.
• India is one of the top 20 global medical device markets
and the 4th largest medical device market in Asia.
Indian Medical Device Market
Figure 4: Indian Medical Device Industry Market Size
Medical Device Segments – India
Diagnostic imaging is the largest segment within Indian
medical device market in 2015. It constitutes USD 1.18 bn
(INR 7,650 crores) in 2015 and will grow to USD 2.47 bn (INR
15,561 Crores) in 2020.
• Others and IV diagnostics comprise largely of electrical
and electronic devices. The others category (patient
monitors, ECG machine, Defib, etc) is estimated at USD
0.94 Bn (INR 5,922 Crores) in 2015 and will grow to USD
1.98 Bn (12,880 Crores)3 in 2020. Similarly, the IV
diagnostics market constituted of USD 0.39 bn (INR 2,550
crores) in 2015 and will reach USD 0.82 bn (INR 5,356
Crores) in 2020.
Figure 5 : Segment-wise Market Share
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2 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)
3 Espicom, India Medical Devices Report 2016, KPMG
Analysis
4 KPMG- AMTZ Analysis
5 Draft National Medical Device Policy, 2015, Department
of Pharmaceuticals, GoI
6 IV diagnostics comprises of medical equipment and
reagents used for laboratory purposes
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