October 22, 2019
It is also interesting to note that quite recently
8 billion by 2020, according to a ITA Medical Devices Top Markets Report 2016.
Experts say, increasing number of minimally invasive surgeries is anticipated to
accelerate the market growth.India has become one of the top countries in Asia
to import the surgical instruments.
Thus India’s medical devices, surgical
equipment and pharmaceutical industry are promising to grow significantly in the
coming years and will emerge as cost effective supplier to the whole world. are
other trending causes to raise the demand for surgical instruments.There are
about 1800 domestic firms in the country, mainly MSMEs which are competing in
the range of low to medium technology products. Apart from this, Government of
India has also permitted 100 automatic foreign direct investment in medical
device manufacturing segment. The overall healthcare industry in India is valued
at USD 160 Billion which is expected to reach USD 280 billion by the year 2020.6
billion Asia/Pacific industry size. By reducing import and producing cost
effective high-end products, country will be able to save a huge cost on
healthcare spending. This would further aid the industry in indigenous
production as purchase preference shall be given to local suppliers.
Road
accidents, treatment of chronic diseases, increasing trend of plastic surgeries
etc.India has a huge potential to overcome from being a trader dependent to
innovative and precision manufacturing entity in surgical equipments market.
India has become one of the top countries in Asia to import the surgical
instruments where about 90% of sophisticated medical devices consumed in India
are being imported which goes to show immense scope for medical device
manufacturing. A huge market of precision surgical instruments had started
surging in India during late 90s. As per industry sources, this is expected to
grow at 7.Demand of precision manufacturing for surgical instruments industry is
nearly untouched and being fulfilled by traders who are mainly importers.
It is
also interesting to note that quite recently, the Department of Pharmaceuticals,
Government of India, has sought comments from various stakeholders for its
proposal that domestically sourced components have to contribute 25 – 50 percent
of the cost of medical devices procured by the Government, depending on the
category of the device.India holds fourth rank as after Japan, China and South
Korea where many countries are eyeing India as place to set up their own
manufacturing facility to serve bigger markets in Asia, some such are 3M in
Pune, Philips which has acquired Medtronics and Alpha X-ray Technologies.In
recent past new players have made entries in this segment such as SRM
Technologies (Switzerland) has done JV with RUJ Group(Jaipur); likeMAG
Industrial Automation Systems (USA) has set-up a subsidiary in India; Heller
(Germany) has formed JV with TAL Manufacturing Solution; China Travel Vacuum Bag Suppliers
Glidemeister (Germany) Sets up tech centre in Bangalore; Schuler (Germany) has
enter in JV with and Indian Company; MAUS (Italy) formed JV with TAL
Manufacturing Solutions; Rosa Ermando (Italy) Enters into JV with UCAM of
Bangalore to set up manufacturing facility in India.According to the government
reports, the key market shares of Indian medical device market in 2016 are
divided into these major categories where diagnostic imaging is contributing 36%
market share, consumables 19%, patient aids 9%, orthopedic prosthesis 8%, and
dental products contribute about 4% of total market share. Various innovations
and newer applications are changing dynamics of this industry day-by-day..
Various innovations and newer applications are changing dynamics of this
industry day-by-day.8% CAGR year on year. Jayant Joshi, Managing Director, RUJ
& SRM Mechanics Pvt.
The Indian medical devices industry is currently sized
at around US$ 5 billion which is 6.By Mr. However, during last few years, Indian
government has succeeded in attracting many Swiss, German, Japanese and US
companies and many of them have shown keen interest in setting-up their
manufacturing base in India. At RS India’s Jaipur plant, the manufacturing
processes and techniques like up to 5Axis Milling, Turning, Swiss Type Turning,
Surface-, Cylindrical- and Center less grinding, Punching, Laser cutting,
Bending,Vacuum Heattreatment, Anodizing (Aluminum & Titanium both), Plating,
Powder coating, Assembling and Assembling under Clean Conditions is installed
and available for all types of precision machining and assembly as required for
B2B manufacturing.Global medical devices market is anticipated to reach a value
of USD 435. Ltd.9% of the USD 72.Core applications of such precision tools are
Neurosurgery, Plastic and Reconstructive Surgery, Wound Closure, Obstetrics and
Gynecology, Cardiovascular, Orthopedic and lot moreother surgeries
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