'The Indian Medical Devices Market Will be Worth $11.0bn by 2023' says Visiongain Report

LONDON, November 28, 2012 /PRNewswire/ --

A new report by visiongain, a London-based business information provider, predicts that the Indian medical device market will be worth $11.0bn by 2023. The market generated sales of $3.0bn in 2011. Currently the US dominates the global medical device market, holding a 39.8% market share. However this market, in addition to the European and Japanese markets are well established, while countries in Far East Asia and Latin America are regarded as potential target regions for medical device manufactures, as they remain relatively underpenetrated. The emerging regions of India and China hold huge opportunities for the medical device manufacturers, as their markets expand at double digit rates.

Rupali Vadhera, healthcare industry analyst, says: "The Indian medical device industry has experienced tremendous growth in recent years, as a result of increased awareness amongst the end-users, and affordability of healthcare products and services with the increasing spending power. The government also aims to expand the healthcare coverage to rural areas. Additionally, the private hospital sector in India has grown rapidly over the last few years, with several well known private companies opening their healthcare centres/hospitals in metropolitan and tier 1/2 cities. The availability and easier access to healthcare has increased the use of medical devices, though for a majority of the population private healthcare is unaffordable."

Visiongain's research suggests that the Indian medical devices market will benefit from the expansion of medical insurance. Future growth in this market is also expected to be driven by patient demographics, particularly with the rise in the country's aging population, which has fuelled increased incidence of age-related diseases, such as cardiovascular disease and Alzheimer's disease. Although the prospects for the market appear promising, the lack of strict regulation of several medical devices in the country will be a challenge in the future as the devices reaching the market become more complex and the end-users demand quality for the price.
Visiongain predicts that this market will grow steadily to 2023. The future of the medical devices market in India appears promising and has significant potential for growth and investment with the increasing demand for safer and cost-effective therapies. This new report adds to visiongain's wide range of analytical reports in healthcare and other industry areas.

For sample pages and further information concerning the Visiongain report Indian Medical Device Market Outlook 2013-2023 please visit http://www.visiongain.com/Report/933/Indian-Medical-Device-Market-Outlook-2013-2023

For an executive summary please contact: Sara Peerun sara.peerun@visiongainglobal.com or Tel: +44-(0)20-7336-6100

Companies Listed

Abbott
Accurex Biomedical
Adonis Medical Systems
Agappe Diagnostics
AGD Biomedicals
Agilent
Alere Medical
Allengers
Alpha X-Ray Technologies
AMX Medical Systems
Analytical Automation Pvt Ltd.
Antia Medical
Ark Diagnostics
B. Braun
Bangalore Medical Systems
Baxter
Beckman Coulter
Becton, Dickinson & Company
Bhat Bio-tech India
Bhram Systems
bioMerieux
Bio-Rad Laboratories
BioRad Medisys
Blue Star Limited
Boston Scientific
BPL Health Management Solutions
Cappella Medical Devices
Chayagraphics
Clindiag India
CPC Diagnostics
Cura Medical
Danaher Corporation
DePuy
Diatron
Dirui
Electromed
Electromedicals
Erbis-Toshiba Medical Systems
Esaote India
Fujifilm Medical Systems
Gemini Medical Networks (representing XGY)
General Electric (GE)
Hitachi Medical Corporation
Horiba Medical
Human
Imperial Bio Medic
InspireMD
Iris Healthcare
J Mitra
John F. Welch Technology Centre (JWFTC)
Johnson & Johnson
Kirloskar Technologies
Komega
Konica
Kruise Pathline
Labindia Healthcare
Logotech
M.E. X Ray
Mars Medical Systems
Masters Medical Equipment
Maxx Medical
Med Rad
MediRay Healthcare
Meditronics
Medi-waves Inc.
Medtronic
Melet Scholesing
Meril Life Sciences
Mindray Medical
Mitsubishi Chemical Medience Corporation
Nectar Lifescience
Nihon Kohden
Novo Healthcare
Nuclear Healthcare Ltd (NHL)
Olympus Corporation
Opto Eurocor Healthcare
Orphee Medical
Ortho-Clinical Diagnostics
Peerless Biotech
PESO Medicare
Philips
Piramal Healthcare
Prognosys Medical Systems
Radiometer
Randox Laboratories
Rapha Diagnostics
Recorders & Medicare Systems
RMD Mediaids
Roche
S3V Vascular Technologies
Sahajanand Medical Technologies
Sandvik AB
Sanrad Medical Systems
Schiller India
Shimadzu Medical
Siemens Medical
Smith & Nephew
SonoSite
Span Diagnostics
Stryker
Suyog Diagnostics
Suzi Medi Equipp.
Thyrocare Group
Toshiba Medical Systems
Transasia Bio Medicals
Trivitron Healthcare
TTK Healthcare
Tulip Diagnostics
Urilab Systems Diagnostics
Vision Medicaid Equipments
Zimmer

Notes for Editors

About visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials and Automotive sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.

If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44-(0) 207-336-6100