The India medical device market has seen extensive growth over the last two years. Currently valued at $3Billion with a predicted growth rate of 15% plus analysts predict the market will be worth $6billion by 2015. With continuing shifts in regulation, and increased expectations for better healthcare for not only the working classes but also the rural regions through government outreach programmes (these grew by a staggering 15% last year alone) the Indian medical device market has previously relied heavily on imported medical devices to meet demand. This is now changing rapidly, with the proliferation of home grown manufacturing and innovation.
Why participate in MEDTEC India?
- The Indian medical device market has seen extensive growth over the last two years
- Proliferation of home grown manufacturing and innovation
- Venture capitalists identifying the Indian medical market as a strategic investment target and many Indian manufactures have seen enormous investment in recent years in production and R&D facilities shifting the market away from reliance on imported devices.
- The current upheaval for medical device regulation and the enforcement of more stringent guidelines will see
India become a world leader within the medical device manufacturing market and the Indian medical device
manufacturing market will grow to meet the ever increasing demand.
- Private healthcare, medical tourism, expanding medical infrastructure and increased healthcare expenditure by all point to an upwards curve in market value, which will not abate for some years to come.
Located in Mumbai, MEDTEC India offers your business a unique opportunity to network with new manufactures services in this ever expanding market. Seen as the centre of business for India, Mumbai benefits from a strong local presence of high technology medical device and healthcare manufactures, and also is within easy travelling distance of the Gujarat region, one of the key hubs of investment for medical companies in India