Medical Plastic Data Service Magazine



Our 28th Year of Publication
Page  12 of 13

Cover Story

Indian MedTech Industry Ecosystem : Facilitating Growth


Mr. Jitesh Shah
Managing Director
Suru International Pvt. Ltd.

Global Medical Devices Market :

  • The global medical device market was estimated at USD 228 bn in 2015 (INR 14.82 lakh crores) which has grown tremendously since then

  • 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 2021.

  • The global medical device market is categorized mainly into seven segments as listed below.

  • 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




Limitation of Medical Device Industry in India :

  • Not Organized in terms of Manufacturing, very less information currently complied and available in Public domain

  • Difficulties in understanding International Standards and Indian Regulatory Requirements, lack of professional experience in understanding regulatory requirements

  • Financing Factory setting up cost complications in land acquisition

  • Difficulties in getting CE approval and its maintenance - specially in the areas of Risk Management, Post Marketing Surveillance and Clinical Evaluation, manpower management, understanding ever changing regulatory requirements

  • Use of Older Technology in manufacturing and packing

  • More than 70 to 75 % Import dependent for components as well as semi assembled products

  • Lot of unhealthy internal competition between manufacturers leads to manufacturing inferior quality of the products or they are left with not enough margin for plant up gradation / future expansion

  • Delays from State Govt. in releasing payments for supplies made makes working capital management very difficult for companies engaged specially in supply to state Govt.

  • Most of the manufacturing is now restricted to low end devices

  • Use of Old methods in manufacturing compared to Chinese companies with regard to scale and technology

  • Very limited knowledge of patents and copyrights.

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Accuprec Research Labs Pvt. Ltd., India
Ambica Medicare Engineering, India
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Ineos Styrolution India Ltd., India
I-Kare Polyalloys Pvt. Ltd., India
KLJ Group, India
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Kuraray India Pvt. Ltd., India
Maider Medical Industry Equipment Ltd.China
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Ferromatik Milacron India Pvt. Ltd., India
GLR Laboratories Pvt. Ltd., India
Pashiba Lifescience, India
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Pradeep Surgipack, India
PVC Colouring Compounding & Processing, India
Qosina, USA
Raumedic AG
SMC Medical Manufacturing Pvt. Ltd., India
Sterimed Medical Devices (P) Ltd., India
Steri Techno Fab, India
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Twist Engineering Works,India
Yuhuan Shengjiu Mould Co., Ltd., China

Airways Surgical Pvt. Ltd., India

Alpha Medicare and Devices Ltd., India
Alpha Therapeutics Pvt. Ltd., India
Ami Polymer Pvt. Ltd., India
Angiplast Pvt. Ltd., India
Appasamy Associates, India
Beacon Plastics, India
Delux Surgical, Inida
Ignisol Mediplas Corporation, India
Jain Rubbers Pvt. Ltd., India
Operon Strategist, India
R.R. Patel Gases (P) Ltd., India

Proven Trade Contacts, India

Sanidhya Enterprise, India
Surgi Pack India Pvt. Ltd.
Unikal Consultants, India
Vinit Performance Polymers Pvt. Ltd., India
Aircity, India
Amigo Surgi Care Pvt. Ltd., India
Angel Products, India
Apex Medical Devices, India
Jimit Medico Surgicals Pvt. Ltd.
Kavya Packaging, India
Life-O-Line Technologist, India
Mesco Surgical, India
Morrisons Lifecare Pvt. Ltd., India
National Healthcare, India
Pharmadocx, Inida
S. Nath & Co., India
Unikal Consultants, India
Venus Industries,India, Mobile : 9825747495
Zinkal Products, India