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The Medical Device Market: India
Espicom Business Intelligence Ltd, Oct 2011, Pages: 84
India has a huge population in excess of one billion people and a growing middle class with access to high quality healthcare. Conversely, in this geographically vast country plagued by natural disasters, the majority of the population is both rural and poor.
The Indian market for medical equipment and supplies ranks among the world’s top 20 but, despite strong growth rates, the market remains disproportionately small with per capita spending of US$2.
High quality, high tech products are sought after, particularly in the private sector.
Future increased demand for medical equipment and supplies will come mainly from private sector hospitals and medical centres.
Detailed regulation of medical devices is still under consideration. In October 2005, a number of in vivo medical devices were added to the Drugs and Cosmetics Act, bringing them into regulatory control. New guidelines for sterile medical devices came into force on 1st March 2006. In March 2009, clarification was published, which provided a list of additional sterile medical devices to be included under the provisions of the Drugs and Cosmetics Act and Rules.
Includes 3 quarterly updated outlook reports!
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