India Medical Device Market Outlook to 2023
By IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)
Region:Asia
Author(s):Abhishek Dugar
Product Code:KR892
September 2019
183
About the Report
The report titled publication "India Medical Device Market Outlook to 2023 - by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)" provides a comprehensive analysis of the medical device market in India. The report also covers the overview and genesis, overall industry revenue, segmentation by product category and channels of distribution for IVD, diagnostic imaging, patient aid market, trends and developments, issues and challenges, government regulations, value chain analysis, SWOT analysis, competitive scenario and company profiles of major players. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions for new and existing players in the market.
India Medical Device Market Overview and Size
India Medical Device market grew at a double-digit growth rate over the review period FY’2013-FY’2018. The market growth was supported by increase in public healthcare expenditure, growth in healthcare infrastructure in the country by expansion in established hospitals and increase in number of hospitals and rise in elderly population. The market was observed in growth stage and will continue to remain so in the forecasted period, FY’2018-FY’2023. The demand for personalized patient care and chage in decision making authority from doctors to hospital administration has significantly affected the growth in the market.
India Medical Device Market Segmentation
IVD devices were the leading category in FY’2018. Rise in the number of patients with chronic and lifestyle-related disorders is the key growth driver for IVD segment This segment was followed by the Diagnostic Imaging market in which MRI and CT gained major revenue share in the imaging industry as demand for detailed analysis and improved imaging positively impacted the market. The Patient Aid market witnessed strong growth even after the introduction of price regulation on implants due to strong growth sentiment in emerging market areas such as sports medicine and inside the ear hearing aid industry.
Competitive Landscape in India Medical Device Market
India IVD Device Market: The competitive scenario in the IVD device market is highly fragmented as there are numerous players that are operating in different device segments. Major players include Roche Diagnostics, Transasia Biomedical, Beckman and Biomerieuxwho captured significant revenue share in FY’2018. Other companies such as Abbott Diagnostics, OCD, Bio-Rad Laboratories, and Siemens occupied remaining share in the industry in FY’2018.
India Diagnostic Imaging Market: The diagnostic imaging witnessed companies such as Wipro GE Healthcare, Siemens Healthcare and Philips leading in various device segments of the industry. In the MRI market, Siemens gained the top spot in terms of revenue market share in FY’2018. Other players such as GE, Philips, Canon Medical, Hitachi and Sina Healthcare occupied the remaining revenue pie of the MRI market in FY’2018. In the CT market, Wipro GE Healthcare registered highest revenue market share while Canon Medical (Erbis) and Philips occupied significant revenue share in the CT industry in FY’2018. In Ultrasound market, Wipro GE healthcare emerged as amarket leader while players like Philips, Samsung Healthcare and Mindray occupied significant position in revenue pie of the India ultrasound marketin FY’2018.
India Patient Aid Market: The competitive scenario in the patient aid market saw different players leading in various segments of the industry. The joints market is rather concentrated with players such as J&J, Smith &Nephew and Zimmer Biomet. J&J also emerged as a leader in trauma market followed by Zimmer Biomet. Competition is fragmented in this market space of orthopedic devices. The sports medicine market is dominated by companies like Arthrex, Smith & Nephew and Stryker which occupied major market share in FY’2018. In the spine segment that has fragmented competition structure, Medtronic gained the topspot followed by J&J, whereas in the India hearing aid market, Widex Sivantos Audiology emerged as a market leader with highest revenue share followed by Starkey Laboratories, GN Hearing and Sonova Hearing in FY’2018.
India Medical Device Market Future Outlook
The medical device market of India will expand at the double-digit growth rate in the forecasted period FY’2019-FY’2023. In vitro device market is expected to register the biggest revenue share in the industry followed by a patient aid device market. Import of IVD devices will positively drive the IVD market while the sale of IVD devices will largely be made via distributors in the subcontinent. POCT and Immunochemistry will gather biggest share in the revenue pie of IVD device market. The diagnostic imaging market is expected to witness major revenue of the market being captured by MRI and CT device. The medical device market is expected to witness innovation and development of cost effective technologies owing to rising investments and will also witness growth in domestic manufacturing of various types of devices owing to government’s efforts to reduce import bill. In patient aid industry, orthopedic device will lead the market with highest revenue market share followed byhospital furniture industry while hearing aid market is expected to realize higher revenue owing to technological innovations in the market.
Key Topics Covered in the Report
- India Medical Device Market Value Chain Analysis
- India Medical Device Market Overview
- India Medical Device Market Size
- India Medical Device Market Ecosystem
- India Medical Device Market Segmentation
- India IVD Device Market Segmentation
- India Diagnostic Imaging Device Market Segmentation
- India Patient Aid Market Segmentation
- Government Role and Regulation in India Medical Device Market
- Trends and Developments in India Medical Device Market
- Issues and Challenges in India Medical Device Market
- Competitive Scenario in India Medical Device Market
- India Medical Device Market Future Projections, FY’2018-FY’2023E
- Analyst Recommendations
Products
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
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, 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)
IVD Devices:
- Roche Diagnostics
- Transasia Biomedical
- Beckman Coulter
- Biomerieux
Diagnostic Imaging:
- Wipro GE Healthcare
- Siemens Healthcare
- Philips India
Patient Aid:
- J&J
- Zimmer Biomet
- Smith and Nephew
- Arthrex
- Stryker
- Medtronic
- Widex Sivantos Audiology
- Starkey Laboratories
- GN Hearing
- Sonova
Table of Contents
1. Executive Summary
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
3. Value Chain Analysis for India Medical Device Market (Inter Entity Relationship and Margin Analysis)
4. India Medical Device Market Overview (Genesis, Market Stage, End User, Major Products, Competitive Scenario and Growth Drivers)
5. India Medical Device Companies in Market Ecosystem
6. India Medical Device Market Size (By Revenue), FY’2013-FY’2018
7. India Medical Device Market Segmentation
7.1. By Type of Medical Device (IVD, Diagnostic Imaging and Patient Aid), FY’2013-FY’2018
8. India IVD Device Market Segmentation, FY’2018
8.1. By Business Activity (Import and Domestic Manufacturing), FY’2018
8.2. By Sales Channel (Distributor and Direct Sales), FY’2018
8.3. By Type of Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular Diagnostics, Microbiology, Coagulation, Urinalysis and Others), FY’2018
8.4. By Type of Poct Device (Blood Glucose Testing Kits, Infectious Disease Testing Kits, Blood Gas Electrolytes, Pregnancy and Fertility Testing Kits, Cardio Metabolic Monitoring, Anticoagulant Management, Cholesterol Testing Kits and Others), FY’2018
8.5. By Immunochemistry Reagent and Instrument Market, FY’2018
8.6. By Biochemistry Reagent and Instrument Market, FY’2018
8.7. By Hematology Reagent and Instrument Market, FY’2018
8.8. By Microbiology Reagent and Instrument Market, FY’2018
8.9. By Urinalysis Reagent and Instrument Market, FY’2018
8.10. By Coagulation Instruments and Reagents, FY’2018
8.11. By Molecular Diagnostics Reagent and Instrument (High and Low Throughput Extraction Analyzers), FY’2018
9. India Diagnostic Imaging Market Segmentation, FY’2018
9.1. By Business Activity (Import and Domestic Manufacturing), FY’2018
9.2. By Type of Device (MRI, CT Scan, Ultrasound, X-Ray, Cath Lab, Nuclear Medicine), FY’2018
9.2.1. By MRI Device (1.5T, 3.0T, 0.2-0.5T), FY’2018
9.2.2. By CT Scan (16 Slice, 64-128 Slice, 128 Slice, FY’2018
9.2.3. By X-Ray (CR, DR and Analog), FY’2018
9.2.4. By Cath Lab (Flat Panel Digital, Biplane and Mobile, FY’2018
9.2.5. By Nuclear Medicine (PET Scanner, SPECT), FY’2018
10. India Patient Aid Market Segmentation
10.1. By Type of Device (Orthopedic, Hospital Furniture and Hearing Device), FY’2013-FY’2018
10.2. By Orthopedic Devices, FY’2018
10.2.1. By Business Activity (Import and Domestic Manufacturing), FY’2018
10.2.2. By Type of Device (Joint, Trauma Sports Medicine, Spine and Orthobiologics, FY’2018
10.3. By Hospital Furniture, FY’2018
10.3.1. By Type of Device (Hospital Bed, OT Table and OT Light), FY’2018
10.3.2. By Type of Hospital Bed (Manual and Motorized), FY’2018
10.3.3. By Type of OT Table (Imported and Indian), FY’2018
10.3.4. By Type of OT Light (Imported and Indian), FY’2018
10.4. By Hearing Aid, FY’2018
10.4.1. By Business Activity (Import and Domestic Manufacturing), FY’2018
10.4.2. By Type of Device (Over the Year and Inside the Ear), FY’2018
10.4.3. By Chanel of Sales (Dealer, Retail, Digital Marketing), FY’2018
11. Government Role and Regulations in India Medical Device Market
12. Trends and Developments in India Medical Device Market
13. Issues and Challenges in India Medical Device Market
14. Competitive Scenario in India Medical Device Market (Competition Structure, Market Strategies and Major Players), FY’2018
14.1. Strength and Weakness of Major Players in India Medical Device Market
15. Company Profiles of Major Players in India Medical Devices Market (Company Overview, Revenue, Operating Cost, Business Strategy, Recent Developments and Future Plans)
15.1. Roche Diagnostics India Private Limited
15.2. Transasia Biomedicals Limited
15.3. Beckman Coulter India Private Limited
15.4. Biomerieux India Private Limited
15.5. Wipro GE Healthcare Private Limited
15.6. Siemens Healthcare Private Limited
15.7. Philips India Limited
15.8. Erbis (Canon Medical)
15.9. Johnson&Johnson Private Limited
15.10. Zimmer Biomet
15.11. Smith and Nephew
15.12. Arthrex
15.13. Styker India Private Limited
15.14. India Medtronic Private Limited
15.15. Widex Sivantos Audiology
15.16. Starkey Laboratories India Private Limited
15.17. GN Hearing
15.18. Sonova Hearing India Private Limited
16. SWOT Analysis of India Medical Device Market
17. India Medical Device Market Future Outlook and Projections, FY’2018-FY’2023E
17.1. India Medical Device Market Size, FY’2018-FY’2023E
17.1.1. By Type of Medical Device (IVD, Diagnostic Imaging and Patient Aid), FY’2018-FY’2023E
17.2. India IVD Device Market Segmentation, FY’2023E
17.2.1. By Type of IVD Device (POCT, Immunochemistry, Biochemistry, Hematology, Molecular Diagnostics, Microbiology, Coagulation, Urinalysis and Others), FY’2023E
17.2.2. By Business Activity (Import and Domestic Manufacturing), FY’2023
17.2.3. By Sales Channel (Distributor and Direct Sales), FY’2023E
17.3. India Patient Aid Market Segmentation, FY’2023E
17.3.1. By Type of Device (Orthopedic, Hospital Furniture and Hearing Device)
17.3.2. India Orthopedic Device Market Segmentation, FY’2023E
17.3.3. India Hospital Furniture Market Segmentation, FY’2023E
17.3.4. India Hearing Device Market Segmentation, FY’2023E
17.4. India Diagnostic Imaging Market Segmentation, FY’2023E
17.4.1. By Business Activity (Import and Domestic Manufacturing), FY’2023E
17.4.2. By Type of Device (MRI, CT Scan, Ultrasound, X-Ray, Cath Lab, Nuclear Medicine), FY’2023E
18. Analyst Recommendation for India Medical Device Market
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