Sector in Focus | Healthcare

Jul-2022

 India has 75-80% import dependency particularly in higher-end equipment with US and Europe being the largest export markets. While indigenous manufacturing is yet to scale up in India, states like Maharashtra and Tamil Nadu are making strides towards developing a holistic ecosystem to boost the industry. Presently, the Indian Medical Device Market is valued at around $11 Billion and is expected to grow at the rate of 35.4%, reaching $50 Billion by the year 2025, making India the fourth largest market for medical devices in Asia after Japan, China and South Korea. In this edition of Primus Partners’ Sector in Focus report on Medical Devices Industry, we share our views on indigenisation of medical device industry along with the challenges and measures proposed to pave the way for 'Atmanirbharta'.