India Medical Equipment Market to Grow at an Impressive Rate through 2025

Growing prevalence of chronic diseases to drive the growth of India medical equipment market

According to TechSci Research report, “India Medical Equipment Market By Type (Orthopaedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, Wound Management, Diabetes Care, Ophthalmic Devices, Dental & Nephrology, Handheld/Homecare Products, Others), By Segment (Instrument & Appliances, Diagnostics Imaging, Consumables & Implants, Patient Aids & Others), By End User (Hospitals & Ambulatory Surgical Centres, Homecare and Clinics), By Source (Domestic, Import), By Region, Forecast & Opportunities, 2025”, the India medical equipment market is expected to grow at an impressive rate during the forecast period on account of growing healthcare expenditure. Additionally, increasing heath consciousness coupled with supportive government policies & schemes is expected to positively influence the market growth over the coming years. Furthermore, rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, renal disorders, cancer, among others, due to sedentary lifestyle of the population is expected to create lucrative opportunities for the market growth. Moreover, growth in surgical procedures and complex surgeries are making headway for the growth of India medical equipment market over the coming years. Along with this, major players operating in the market are interested in investing more in research and development of new generation medical equipment, which is further expected to drive the market growth during the next five years. However, factors such as lack of awareness about chronic diseases, high cost of equipment and decreased healthcare reimbursements might act as major impediments to the growth of India medical equipment market during the forecast period.

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The India medical equipment market is segmented based on type, segment, end user, source, company, and region. In terms of end user, the market is fragmented into hospitals & ambulatory surgical centers, homecare and clinics. Out of these, the hospitals & ambulatory surgical centers segment dominated the market until 2019 and is expected to hold its dominance in the market during the next five years, which can be attributed to developing healthcare infrastructure coupled with impressive reimbursement policies. In addition to this, growing emphasis of hospitals for better patient outcome, is further contributing to the growing trend. Based on segment, the market is divided into instrument & appliances, diagnostics imaging, consumables & implants, patient aids and others. Out of these, the instrument & appliances is forecast to register high growth until 2025 which can be attributed to ongoing technological advancements.

Philips India Limited, GE Healthcare Private Limited, India Medtronic Pvt Ltd, Siemens Healthcare Pvt Ltd, Johnson & Johnson Pvt Limited, Baxter India Private Limited, B. Braun Medical (India) Pvt Ltd, Abbott India Limited, Robert Bosch India Limited, Roche Diagnostics India Private Limited, Fresenius Medical Care, Becton Dickinson India Pvt Ltd, Smith & Nephew Healthcare Pvt Ltd, 3M India Limited, Boston Scientific India Pvt Limited and others are some of the leading players operating in India medical equipment market. The market players are adopting competitive strategies include mergers & acquisitions, partnership, collaborations, and new product developments, in order to increase their market share.

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“India medical equipment market is expected to witness substantial growth during the forecast period on account of faster adoption of new medical technologies. Additionally, increase in aging population and growing disease awareness is further expected to create lucrative opportunities for the market growth in the country.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

“India Medical Equipment Market By Type (Orthopaedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, Wound Management, Diabetes Care, Ophthalmic Devices, Dental & Nephrology, Handheld/Homecare Products, Others), By Segment (Instrument & Appliances, Diagnostics Imaging, Consumables & Implants, Patient Aids & Others), By End User (Hospitals & Ambulatory Surgical Centres, Homecare and Clinics), By Source (Domestic, Import), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India medical equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India medical equipment market.

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