How Medical Device Market is Positioned in India?

The medical device market has witnessed a considerable shift in demand basis type of devices from end users. High value capital equipments have dominated the market in FY’2018. However, mobile device such as POCT and portable scanners have surged in the market in recent years and gradually, the market is witnessing the development in demand for high value technology segment which is automated and customized to provide personalized solution to patient. The medical device market in India was observed to be in growth stage during the review period, FY’2013-FY’2018, and witnessed emergence of new players both domestic and international as well as rising investment & partnerships.

India medical device market size was evaluated at INR ~ crore in FY’2013 which grew at a CAGR of ~% in the five year review period FY’2013 – FY’2018. The medical device market is being driven by various factors increase in public healthcare expenditure, increase in lifestyle related and chronic disorders, increase in number of hospitals, growth in elderly population and increasing penetration of medical insurance in the country. Indian Medical Device market is dominated by IVD devices which are frequently used for diagnosing various health ailments. Also, POCT devices have gained major stimulus in the market due to their easy use, cost and time saving effort. Categories such as Immunochemistry and Biochemistry were leading segments in the IVD market in India.

India Medical Device Market Segmentation

IVD Device: IVD device contributed highest revenue in FY’2018. High cost of analyzers and high consumption of reagents has led this market acquire the biggest pie of revenue in medical device industry. Increase in number of patients with infectious diseases has led the market achieve higher revenue in the review period FY’2013-FY’2018. POCT, immunochemistry and biochemistry devices have gathered major proportion of IVD Device industry. Few major trend witnessed in the sector are laboratory automation, increase in demand for AI assisted platform for decreasing the turnaround time, need for testing of multiple samples in minimum turnaround time and possibility to provide this technology in low cost mobile POCT device for increasing penetration in rural healthcare market. Gradual increase in number of diagnostic labs have also led to this industry realize higher revenue.

Diagnostic Imaging: India diagnostic imaging market has grown at a CAGR of ~% from INR ~ crore in FY’2013 to INR ~ crore in FY’2018. Increase in number of road accidents and growth in cancer burden in the country has provided a major push for this segment which has resulted in this market acquiring ~% revenue share in FY’2018. Majorly, MRI, CT and Ultrasound have taken major revenue share in this industry. The sector has observed surge in demand of technology upgraded devices in the wake of increasing demand to provide customized care for comprehending detailed quality images of various organs.

Patient Aid: Patient Aid device category was the least revenue contributing segment with a share of ~% in the India Medical Device market in FY’2018. The market was valued at INR ~ Crore in FY’2013 and reached to a value of INR ~ Crore in FY’2018 and registered a five year CAGR of ~%. The market saw growth due to factors such as increase in the adult population in the country, rapid growth in number of orthopedic surgeries and growth in patients with auditory loss. The market is currently in the growth stage in India and expected to develop more in the upcoming years.

India IVD Device Market Segmentation

By Business Activity: Import of IVD devices was the most revenue contributing segment in the India medical device market with a share of ~% in FY’2018. Presence of high margins on devices and ease of import has led to import of IVD products being preferred business choice. It is followed by local production of devices in terms of revenue contribution with contribution of ~% in FY’2018. It was also witnessed that, analyzers with low cost of production started getting produced within the country; however the presence of inverted duty structure has always favored import of devices over local manufacturing.

By Sales Channel: Most IVD devices are sold in the subcontinent through distributors. Distributors accounted for ~% revenue share of the industry in FY’2018. Distributors are required for expansion of business and penetration of new products to newer geographies. On the other hand, direct sales of IVD instruments and reagents generated INR ~ crore in FY’2018 which accounted for ~% revenue share in the market. Largely, high end automated analyzers are sold directly by companies to hospitals and labs that have partnered with them.

By Type of Device: POCT devices occupied biggest revenue market share of ~% of the IVD device industry in FY’2018. Immunochemistry device and reagent accounted for revenue of INR ~ crore in the industry while Biochemistry occupied a revenue share of ~% in IVD industry. Rising incidence of chronic disorders led molecular diagnostics to garner market revenue of INR ~ crore in FY’2018.

By Type of POCT Device: In POCT Device market, Blood glucose testing kits occupied the highest revenue share of ~% in FY’2018. Infectious disease testing kits acquired INR ~ crore of market revenue while Blood gas electrolyte kits garnered INR ~ crore during FY’2018.

By Immunochemistry Reagent and Instrument market: Immunochemistry reagents market accounted for ~% revenue share in immunochemistry IVD device market in FY’2018 while ELISA captured ~% revenue share whereas Instruments gathered INR ~ crore in the same period. Reagents captured greater share due to their repeated consumption for analyzing health ailment in sample testing.

By Biochemistry Reagent and Instrument Market: Biochemistry reagents market constituted ~% revenue share in biochemistry IVD device market in FY’2018 while INR ~ crore of market revenue was generated from instruments business. Largely, semi automated instruments have captured the major proportion of biochemistry instruments market.

Key Segments Covered:-

IVD Device Market:

By Business Activity (Import and Domestic Manufacturing)

By Sales Channel (Distributor and Direct Sales)

By Type of Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular Diagnostics, Microbiology, Coagulation, Urinalysis and Others)

By Type of POCT (Blood Glucose Testing Kit, Infectious Disease Testing Kit, Blood Gas Electrolytes, Pregnancy and Fertility Testing Kit, Cardio Metabolic Monitoring, Anticoagulant Management), Cholesterol Testing Kit and Others)

By Immunochemistry Reagent and Instrument

By Biochemistry Reagent and Instrument

By Hematology Reagent and Instrument

By Molecular Diagnostics Reagent and Instrument

By Microbiology Reagent and Instrument

By Urinalysis Reagent and Instrument

By Coagulation Reagent and Instrument

Diagnostic Imaging Market:

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (MRI, CT, Ultrasound, X-Ray, Cath Lab and Nuclear Medicine)

By MRI Device (1.5T, 3.0T, 0.2-0.5T)

By CT Scan (16Slice, 64-128 Slice, <16 Slice and >128 Slice)

By X-Ray (CR, DR and Analog)

By Cath Lab (Flat Panel Digital, Biplane and Mobile)

By Nuclear Medicine (PET Scanner, SPECT and Cyclotron)

Patient Aid Market:

By Type of Device (Orthopedic, Hospital Furniture and Hearing Aid)

By Orthopedic Devices

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (Joint, Trauma, Sports Medicine, Spine and Orthobiologics)

By Hospital Furniture

By Type of Device (Hospital Bed, OT Table and OT Light)

By Type of Hospital Bed (Manual and Motorized)

By Type of OT Table (Imported and Indian)

By Type of OT Light (Imported and Indian)

By Hearing Aids

By Business Activity (Import and Domestic Manufacturing)

By Type of Device (Over the Ear and Inside the Ear)

By Sales Channel (Dealer, Retail and Digital Marketing)

Key Target Audience:-

IVD Device Manufacturers

IVD Reagent Manufacturers

IVD Device Importers

Government Agencies

Orthopedic Device Companies

Hearing Aid Companies

Hospital Furniture Manufacturers

Diagnostic Imaging Device Companies

Time Period Captured in the Report:-

Historical Period: FY’2013- FY’2018

Forecast Period: FY’2019E – FY’2023E

Companies Covered:-

IVD Devices:-

Roche Diagnostics

Transasia Biomedical

Beckman Coulter


Diagnostic Imaging:

Wipro GE Healthcare

Siemens Healthcare

Philips India

Patient Aid:


Zimmer Biomet

Smith and Nephew




Widex Sivantos Audiology

Starkey Laboratories

GN Hearing


For more information on the research report, refer to below link:-

India Medical Device Market

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