Medical electronics may touch $6.5b by 2020

- Advertisement -

A FICCI-Deloitte thought paper has suggested that the non-market factors like development of infrastructure, favourable regulations, FDI inflow, outsourcing of manufacturing and R&D activities to India as well as government initiatives to improve healthcare access through insurance schemes can help Indian medical electronics market reach US $6.5 billion by the year 2020.

Assuming that the current growth rate of about 17 per cent every year is sustained, However, it is believed that there is a strong possibility that the growth may outperform market estimates, the report forecasts.

“The current product affordability of medical technology is a major barrier for the market to be able to achieve its anticipated potential growth. However, prudent innovation methods can reduce manufacturing costs and eventually lower market prices. Additionally, an increased focus and reliance on domestic manufacturing of medical electronics, as opposed to the current dependence on the import market, will also help to improve this overall condition,” said Roopen Roy, MD, Deloitte & Touche Consulting India.

- Advertisement -

Meanwhile, another study by Frost & Sullivan has found that the key factors restraining health access in India are affordability, availability of health resources and awareness about health. The consultancy firm shared findings of its report titled “Assessment of Factors determining Accessibility of Medical Devices in India”.

“In India health access is simultaneously impacted by factors like availability, affordability, awareness, government spending, and wider availability of technologies,” said Jayant Singh, practice head – medical technologies, Frost & Sullivan. He also added that “working on any single factor without impacting other factors is not going to make a significant change in health outcomes and access”.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Exclusive

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Important Sectors

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Tech Mahindra Opens Telco Smart Analytics Lab in UK

0
Situated in Milton Keynes, the lab aims to develop data analytics solutions on Google Cloud India-based IT company, Tech Mahindra recently announced its dedicated Google...

GODI India Manufactures 3000F high power supercapacitor

0
Integration with battery packs would improve the battery life of EV, says GODI GODI India, the country's leading company to have homegrown technology to make...

Manufacturing

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Apple Making iPhone 14 In India!

0
As per the latest reports, Apple has started manufacturing iPhone 14 in India. Foxconn’s Sriperumbudur facility situated on the outskirts of Chennai is the...

Global UAV Mkt To Grow At 18.41% CAGR

0
The report 'Global UAV Market 2022-2026' lists the opportunities and challenges lying ahead for this sector A recent report released by Technavio expects the global...

Semiconductors and Display Manufacturing: Ready for Another Boost

0
Govt says that tech nodes of 45nm account for half of the total semiconductor market in India Central Cabinet, in a recent meeting, approved a...