Webinar on Indian medical devices market on June 22, 2017
Indian medical devices industry is valued at USD 4.9 Bn, which is relatively small but has been growing at CAGR 17% over the last 5 years. The sector is expected to witness growth of over 15% CAGR over the next decade.
The domestic medical device sector is highly fragmented yet it is dominated by MNE’s. This sector is import dependant with 75% of the products being imported consisting mainly of high end medical devices. Of the 800 medical device companies in India, only 10% have revenues of over USD 10 Mn.
Majority of the India medical device companies focus on manufacturing low tech high volume and less complexity products like cannula, catheters to meet local demand and less regulated markets.
In the last 10 years, several Indian companies have established competency in design and development of medium complexity products like stents, catheters, monitors, digital imaging systems. Their focus has now shifted from acquiring market share to market creation. Apart from competing with MNEs in India, they are exporting to similar markets in Africa, Latin America, Middle East and South East Asia. Some of them are also white label manufacturers for global MNE’s.
Medical device clusters in India:
- a) North India - Delhi/NCR: Low end consumables such as syringes, catheters, cannula.
- b) West India - Gujarat: Stents
- c) South India - Karnataka: Insulin pens, Medical IT, implants, PCR machines, Digital imaging, Digital monitors
- d) South India - Tamil Nadu: Diagnostics, Critical life support systems, Ophthalmology
Attend the webinar and learn:
Speaker and presenter:
Industry speaker: Mr. Vijaysimha Ajarananda “Vijay” is an engineer, physicist and tea planter. He is also a serial medtech entrepreneur with 28 products. His latest venture is Audicor Cardiometrics, a wearable device to detect heart failure at early stage. The product has been launched in select markets in South East Asia and slated for India launch this year. His last assignment was as Chief Strategy Officer of BPL Healthcare, post which he started OneBreath Inc to develop portable ventilator collocated in California and Bangalore. Vijay is an active evangelist for the development of med tech ecosystem in India.
Vijay is a member of Federation of Indian Chamber of Commerce & Industry (FICCI) Health services Committee and the FICCI Advisory Council on Innovation.
Linkedin: Vijay Simha
Presenter: Mr. Deepak Murthy, Trade Commissioner, Consulate General of Canada, Bangalore.
Thursday, 22 June, 2017 9 PM IST (11:30 AM EST)
Duration: 90 mins.
To register, please contact Deepak Murthy, Trade Commissioner, Consulate General of Canada, Bangalore at Deepak.email@example.com
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