Tuesday, March 17, 2015
Medical equipment is designed to aid in the diagnosis, monitoring or treatment of medical conditions. The Medical Devices and Equipment industry of India is growing at a faster annual rate of 15% than 10-12% growth seen in the Healthcare sector in its entirety. A rise in the number of hospitals and the increased requirement for healthcare facilities creates a need for sophisticated devices and equipment, which can provide accurate treatment to individuals.
The Indian healthcare industry was estimated at USD 40 billion in 2010 is expected to reach USD 280 billion by 2020. Large investments by private sector players are likely to contribute significantly to the development of India’s hospital industry, which comprises around 80% of the total market. As per estimates by ratings agency Fitch, the sector is poised to grow to USD 100 billion by the year 2015 and further to USD 275.6 billion by 2020.
The Indian healthcare sector comprises the sub-sectors of hospitals, medical infrastructure, medical devices, clinical trials, outsourcing, telemedicine, health insurance and medical equipment. India presently has 0.5 million doctors, 0.9 million nurses and around 1.37 million beds, and has the highest number of medical and nursing colleges, at 303 and 3,904, respectively.
Medical Electronic Equipment
Demand: Past & Future
Year Rs bn
2001-02 31.40
2002-03 35.60
2003-04 33.95
2004-05 38.53
2005-06 48.41
2006-07 59.70
2007-08 67.80
2008-09 76.80
2009-10 86.90
2010-11 98.00
2011-12 110.60
2012-13 124.45
2013-14 139.00
2014-15 155.00
2019-20 255.00
Leading Players
Siemens Ltd
Poly Medicure
Larsen & Toubro
BPL Ltd
Organon (India)
Advanced Micronic
Wipro GE
Shree Pacetronix
Monozyme India
Computer graphics
Dr. Reddy's Lab
Philips Medical Systems
Morepen Labs
Opto Circuits (India)
Market Growth Rates
1990-91-1996-97 25.7%
1996-97-2001-02 28.7%
2001-02-2006-07 13.7%
2006-07-2011-12 13.1%
2011-12-2019-20 11.0%
Sensitivity Coefficient 8.8%
Source: NPCS Team
