Tag: Healthcare industry

Healthcare Industry

The healthcare industry is expected to reach USD 145 bn by 2018 and over USD 280 bn by 2025. Though India’s healthcare sector has evolved significantly in the last decade, challenges exist in providing access to quality healthcare in the country”, said Mr. Anjan Bose, Secretary General, NATHEALTH

“Lower financing & expenditure on healthcare, inadequate healthcare infrastructure and dual diseases burden are key challenges faced by the sector”, added Mr. Bose.

Medical technology cost in setting up a tertiary care hospital amounts to 30-40%. Cost of medical technology/equipment/devices is 20-25% of total healthcare cost for a patient.

“Given the increasing demand for Healthcare and the critical role of Medical devices in providing affordable and accessible health, the time is right to align the eco system to view medical devices as a strategic driver. The “Make in India” initiative is the perfect opportunity to create a step change in Indian healthcare and especially in the Medical Devices Industry”, said Ms. Charu Sehgal, Partner and Life Sciences & Healthcare Leader, Deloitte India.

The medical devices market is estimated to grow organically at ~15 percent to USD 8.6 bn by 2020. Though the current domestic medical devices market represents only 1% of the global market, India is among top 20 in the world and among the top 4 in Asia (after China, Japan, South Korea). The medical devices market has grown at 10% in the past decade and is expected to have an organic growth of ~15% in the medium-term against global industry growth of 4 – 5%”, informed Sushobhan Dasgupta, President, NATHEALTH.

Industry estimates that India’s medical devices market has the potential to become USD 50 bn industry by 2025 when the contribution of India to the incremental medical devices industry growth would become substantial at 31%.

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