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India is a land full of opportunities for players in the medical devices industry. The Indian hospital services generated revenue of more than US$ 45 Billion in 2012. This revenue is expected to rise at a CAGR of 20% during 2012-2017 generating immense possibilities for players in the market. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep. Thanks to India’s economic growth and a rise in penetration of medical insurance, the 300 Million plus middle class population of India can now afford almost any of its healthcare needs. Such a scenario presents immense opportunities for players in the medical devices business.

The report, “Indian Medical Device Market Outlook to 2017”, provides an extensive research and in-depth analysis of the current status and future outlook of the Indian medical devices market. The market, which stood at around US$ 5.1 Billion in 2012, is expected to grow at a rate of around 16% during 2012-2017, representing one of the fastest growing medical devices markets in the world.

Currently, import constitutes almost 70% of the Indian medical devices market. A historical trend analysis of the total import value of medical devices in India shows that despite a depreciating currency, the trend to import has remained positive. For RNCOS’ study, the company analysts have conducted a thorough trend analysis of medical device imports in the country. What medical devices are majorly imported; what are the key drivers behind their import; and what are the challenges that imports of these medical devices face; such and other factors depicting the overall scenario of medical device imports in the country are provided in the report. Similar facts have been reported for exported and locally manufactured medical devices, providing a complete picture of the Indian medical devices industry.  Research findings from the study will help players in identifying distinct opportunities. They will get an insight on which medical devices are exported to which countries. Also, local players will get to know which medical devices are majorly imported and thus can be intelligently targeted.

In addition to the above, the study delves into the market by categorizing it on the basis of application of medical devices. The major categories covered are Medical and Diagnostic Equipments; Medical Implants; and Medical Disposables and Supplies. Insights on the current market and future outlook to 2017 will equip companies with business intelligence that will help them align their operations when market grows and thereby maximize earnings.

Other important parameters that will particularly help foreign medical device manufacturers in knowing India better include knowledge on the distribution system and the regulatory environment in India. The report will help build an understanding on the various registration requirements in the country and will also help companies in their regulatory compliance planning and efforts.

The study, in other chapters, importantly provides the latest market trends, drivers and challenges with an overview of the current competitive landscape. All in all, the report is a comprehensive review of the current and expected outlook of the Indian medical devices market by 2017, making it a must buy for everyone keen on making the most in one of the fastest growing medical devices markets in the world.