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Business Overview (Introduction)

Medical devices and supplies market in India is expected to touch USD 1.7 billion in 2010, growing at the rate of 23% annually in the coming years from the current Rs. 5750 crores, says a sector report by National Institute of Pharmaceutical Education and Research by (NIPER), Ahmedabad.

Affordability by patients, increased awareness on health care, improved hospital infrastructure and the increased disease patterns are listed as the primary drivers boosting the growth medical devices industry.

Free market environment, a developed industry and investment in health infrastructure are amongst other factors that the growth of high quality medical devices industry.

Among the segments in the medical devices market diagnostic equipment leads with Rs. 2000 crores, surgical equipment supplies worth Rs 1300 crores comes second and imaging and electronic treatment devices follow with Rs 1300 crores and Rs. 1000 crores respectively.

The Indian medical equipment market is dominated by the medical instruments and appliances used in specialties such as ophthalmic, dental and other physiological classes. This segment accounts for 26% of the total market followed by orthopedic/ prosthetic goods segment accounting for 19% of the total market.

Medical supplies such as bandages and disposables such as syringes, needles and catheters together constituted 21% of the total market. The other equipment which are in demand are high end speciality electro medical equipments that accounted for 11% of the total market. X-ray apparatus accounted for 10% of the total market.

Another high growth segment in the medical devices industry is diagnostic kits. Diagnostic kits has a growth rate of 30% and a market size of USD 133 million in 2005. They include the reagents and the medical kits. With over fifty companies operating in diagnostic kits, the market has seen several interesting trends.

Roche Diagnostics is the leading player followed by Transasia, Bayer and others such as Span Diagnostics, Piramal Healthcare, Orchid, Tulip Diagnostics, Zephyr Biomedical, Biorad, Liliac etc.

The NIPER report submitted to the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers , Government of India also highlights certain trends outsourcing laboratory services by large private sector hospitals have started to outsource their laboratory services and raising of private equity funds.

Mumbai-based Metropolis Health Services, for instance, manages the laboratory of Chennai based Malar Hospital. Metropolis also manages the laboratory services of the Dubai-based Gulf Medical College in Ajman.

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