The report titled publication “India Medical Device Market Outlook to 2023 – by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)” provides a comprehensive analysis of the medical device market in India. The report also covers the overview and genesis, overall industry revenue, segmentation by product category and channels of distribution for IVD, diagnostic imaging, patient aid market, trends and developments, issues and challenges, government regulations, value chain analysis, SWOT analysis, competitive scenario and company profiles of major players.
India Medical Device Market Overview and Size
India Medical Device market grew at a double-digit growth rate over the review period FY’2013-FY’2018. The market growth was supported by an increase in public healthcare expenditure, growth in healthcare infrastructure in the country by expansion in established hospitals and an increase in the number of hospitals and a rise in the elderly population. The market was observed in the growth stage and will continue to remain so in the forecasted period, FY’2018-FY’2023. The demand for personalized patient care and change in decision making authority from doctors to hospital administration has significantly affected the growth in the market.
India Medical Device Market Segmentation
IVD devices were the leading category in FY’2018. Rise in the number of patients with chronic and lifestyle-related disorders is the key growth driver for the IVD segment This segment was followed by the Diagnostic Imaging market in which MRI and CT gained major revenue share in the imaging industry as demand for detailed analysis and improved imaging positively impacted the market. The Patient Aid market witnessed strong growth even after the introduction of price regulation on implants due to strong growth sentiment in the emerging market areas such as sports medicine and inside the ear hearing aid industry.
Competitive Landscape in India Medical Device Market
India IVD Device Market: The competitive scenario in the IVD device market is highly fragmented as there are numerous players that are operating in different device segments. Major players include Roche Diagnostics, Transasia Biomedical, Beckman and Biomerieux who captured significant revenue share in FY’2018. Other companies such as Abbott Diagnostics, OCD, Bio-Rad Laboratories, and Siemens occupied remaining share in the industry in FY’2018.
India Diagnostic Imaging Market: The diagnostic imaging witnessed companies such as Wipro GE Healthcare, Siemens Healthcare and Philips leading in various device segments of the industry. In the MRI market, Siemens gained the top spot in terms of revenue market share in FY’2018. Other players such as GE, Philips, Canon Medical, Hitachi and Sina Healthcare occupied the remaining revenue pie of the MRI market in FY’2018. In the CT market, Wipro GE Healthcare registered the highest revenue market share while Canon Medical (Erbis) and Philips occupied significant revenue share in the CT industry in FY’2018. In the Ultrasound market, Wipro GE healthcare emerged as a market leader while players like Philips, Samsung Healthcare and Mindray occupied a significant position in the revenue pie of the India ultrasound market in FY’2018.
India Patient Aid Market: The competitive scenario in the patient aid market saw different players leading in various segments of the industry. The joints market is rather concentrated with players such as J&J, Smith & Nephew and Zimmer Biomet. J&J also emerged as a leader in the trauma market followed by Zimmer Biomet. Competition is fragmented in this market space of orthopedic devices. The sports medicine market is dominated by companies like Arthrex, Smith & Nephew and Stryker which occupied major market share in FY’2018. In the spine segment that has fragmented competition structure, Medtronic gained the top spot followed by J&J, whereas in the India hearing aid market, Widex Sivantos Audiology emerged as a market leader with the highest revenue share followed by Starkey Laboratories, GN Hearing and Sonova Hearing in FY’2018.
India Medical Device Market Future Outlook
the medical device market is expected to witness innovation and development of cost-effective technologies owing to rising investments and will also witness growth in domestic manufacturing of various types of devices owing to government’s efforts to reduce the import bill
Key Segments Covered:-
IVD Device Market:
By Business Activity (Import and Domestic Manufacturing)
By Sales Channel (Distributor and Direct Sales)
By Type of Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular Diagnostics, Microbiology, Coagulation, Urinalysis, and Others)
By Type of POCT (Blood Glucose Testing Kit, Infectious Disease Testing Kit, Blood Gas Electrolytes, Pregnancy, and Fertility Testing Kit, Cardio-Metabolic Monitoring, Anticoagulant Management), Cholesterol Testing Kit and Others)
By Immunochemistry Reagent and Instrument
By Biochemistry Reagent and Instrument
By Hematology Reagent and Instrument
By Molecular Diagnostics Reagent and Instrument
By Microbiology Reagent and Instrument
By Urinalysis Reagent and Instrument
By Coagulation Reagent and Instrument
Diagnostic Imaging Market:
By Business Activity (Import and Domestic Manufacturing)
By Type of Device (MRI, CT, Ultrasound, X-Ray, Cath Lab and Nuclear Medicine)
By MRI Device (1.5T, 3.0T, 0.2-0.5T)
By CT Scan (16Slice, 64-128 Slice, <16 Slice and >128 Slice)
By X-Ray (CR, DR, and Analog)
By Cath Lab (Flat Panel Digital, Biplane and Mobile)
By Nuclear Medicine (PET Scanner, SPECT and Cyclotron)
Patient Aid Market:
By Type of Device (Orthopedic, Hospital Furniture, and Hearing Aid)
By Orthopedic Devices
By Business Activity (Import and Domestic Manufacturing)
By Type of Device (Joint, Trauma, Sports Medicine, Spine and Orthobiologics)
By Hospital Furniture
By Type of Device (Hospital Bed, OT Table and OT Light)
By Type of Hospital Bed (Manual and Motorized)
By Type of OT Table (Imported and Indian)
By Type of OT Light (Imported and Indian)
By Hearing Aids
By Business Activity (Import and Domestic Manufacturing)
By Type of Device (Over the Ear and Inside the Ear)
By Sales Channel (Dealer, Retail and Digital Marketing)
Key Target Audience:-
IVD Device Manufacturers
IVD Reagent Manufacturers
IVD Device Importers
Government Agencies
Orthopedic Device Companies
Hearing Aid Companies
Hospital Furniture Manufacturers
Diagnostic Imaging Device Companies
Time Period Captured in the Report:-
Historical Period: FY’2013- FY’2018
Forecast Period: FY’2019E – FY’2023E
Companies Covered:-
IVD Devices:-
Roche Diagnostics
Transasia Biomedical
Beckman Coulter
Biomerieux
Diagnostic Imaging:
Wipro GE Healthcare
Siemens Healthcare
Philips India
Patient Aid:
J&J
Zimmer Biomet
Smith and Nephew
Arthrex
Stryker
Medtronic
Widex Sivantos Audiology
Starkey Laboratories
GN Hearing
Sonova
Key Topics Covered in the Report:-
India Medical Device Market Value Chain Analysis
India Medical Device Market Overview
India Medical Device Market Size
India Medical Device Market Ecosystem
India Medical Device Market Segmentation
India IVD Device Market Segmentation
India Diagnostic Imaging Device Market Segmentation
India Patient Aid Market Segmentation
Government Role and Regulation in India Medical Device Market
Trends and Developments in India Medical Device Market
Issues and Challenges in India Medical Device Market
Competitive Scenario in India Medical Device Market
India Medical Device Market Future Projections, FY’2018-FY’2023E
Analyst Recommendations
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