Dublin, Dec. 20, 2024 (GLOBE NEWSWIRE) -- The "Medical Devices Market in India" report has been added to ResearchAndMarkets.com's offering.
The Indian medical devices market is significantly smaller than other overseas markets. However, macroeconomic factors suggest there is huge potential for double-digit growth of the Indian medical devices market. The evolving behavior of consumers, along with proactive patients and consumers, is driving the medical devices market.
Manufacturers of medical devices create and produce these instruments either as standalone items or in combination with others to aid in diagnosing, preventing, monitoring, treating, and alleviating diseases. This industry benefits from supportive government policies, including provisions that allow up to 100% foreign direct investment (FDI) through the automatic route. The growing demand for advanced and specialized medical equipment is driven by the rapid expansion of luxury healthcare and medical tourism sectors.
Market trends:
Multiple organizations have been leveraging predictive analytics models by accumulating key patient vital signs, observations from devices, etc., to make decisions about the overall health of patients.
The Indian market for wearable medical devices is on an upward trajectory, with significant developments expected in the upcoming years. Wearable devices like glucose monitors, fitness trackers, and mental health wearables are gaining traction due to their user-friendly nature. Products such as Evolv28, launched in February 2024, are offering therapeutic functionalities that are aimed at mental wellness.
Market drivers:
The Union Cabinet approved the National Medical Devices Policy 2023 in April 2023. The National Medical Devices Policy, 2023, aims to promote structured growth within the medical devices sector to achieve public health goals related to access, affordability, quality, and innovation.
The increasing prevalence of chronic conditions such as diabetes, cardiovascular diseases, and cancer is a major driver for the medical devices market. As more patients require ongoing monitoring and treatment, the demand for diagnostic and therapeutic devices is expected to surge. This trend is further supported by growing awareness about treatment options among patients, leading to an increase in surgical and diagnostic procedures globally.
Key deterrents to the growth of the market:
The medical devices sector is subject to stringent regulatory standards that can complicate manufacturing processes. Obtaining necessary certifications is often time-consuming and cumbersome, which can hinder timely market entry for new products.
The medical devices sector has a weak supply chain infrastructure, characterized by inadequate logistics and distribution networks. This leads to delays and eventually increased expenses, especially for temperature-sensitive products that require reliable cold chain logistics. High reliance on imports is also a cause for supply chain weakness.
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Socio-Economic Indicators
Chapter 3: Introduction
3.1. Market Definition and Structure
Chapter 4: Global Medical Devices Market - An Overview
4.1. Aviation Infrastructure Market
4.2. Market Size and Growth Forecast (2024 - 2029e)
Chapter 5: Medical Devices Market in India - An Overview
5.1. Medical Devices Market in India - An Overview
5.2. Market Size and Growth Forecast (FY 2024 - FY 2029e)
Chapter 6: Market Influencers
6.1. Market Drivers
6.2. Market Challenges
Chapter 7: Market Trends
Chapter 8: Government Initiatives
Chapter 9: Trade Analysis
9.1. Export
- Value-wise
- Country-wise
9.2. Import
- Value-wise
- Country-wise
9.3. Other exports - Based on Value
Chapter 10: Competitive Landscape
10.1. Centenial Surgical Suture Limited
- Company Information
- Business Description
- Products/services
- Key People
- Financial Snapshot
- Key Ratios
- Key Financial Performance Indicators
- Key Business Segments
- Key Geographic Segments
10.2. Opto Circuits (India) Limited
10.3. Poly Medicure Limited
10.4. B. Braun Medical (India) Private Limited
10.5. Johari Digital Healthcare Limited
10.6. Philips India Limited
10.7. Becton Dickinson Private Limited
10.8. Medtronic, Inc.
10.9. Siemens Healthineers, Inc.
10.10. Wipro GE Healthcare Private Limited
Chapter 11: Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/54vahp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
