The Medical Device Market in India –
Opportunities for International Suppliers
India is well publicized as the world’s second most populous country, shortly forecast to overtake China as the world’s most populous, and India’s economic strength is growing fast. With an economy less affected by the worldwide downturn and less reliant on the good fortunes of the West, India’s middle class is rapidly increasing. With a population of 90 million now in the middle class bracket and forecast to grow by 17% per year to reach 268 million by 2015, the number of middle class citizens will roughly equal the entire population of the United States.
With such a huge population largely procuring private healthcare, the opportunities in the medical device sector are too good to miss. This is underlined by the flurry of recent product announcements, merger and acquisition activity by several multi-national medical OEMs.
Fueled by lifestyle changes brought on by increased affluence the market is driven by the cardiovascular, orthopaedic, ophthalmic and diagnostic imaging sectors. The two key sectors of cardiovascular and orthopaedic are forecast to grow at a rate of 13% and 11% respectively during the next seven years.
MEDTEC INDIA will create the first international showcase for suppliers to the medical device industry.
Organised by:  |
Worldwide Medical Show Series  |