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India's medtech sector projected to reach 50 billion dollars by 2030
India's medical devices sector is projected to grow from $12 billion in 2023 to $50 billion by 2030, driven by startup innovation and supportive government policies aimed at reducing import dependence. A new scheme with a Rs 500 crore outlay over three years will enhance domestic manufacturing capabilities.Factors such as rising chronic disease prevalence, an aging population, and increased healthcare access are fueling demand for medical devices. Despite being a major importer, India has the potential to become a key exporter, leveraging its skilled workforce and cost competitiveness.
Financialexpress
United States Dollar Max Apollo CMRI Fortis Manipal Hinduja Group Ltd. IND Suresh Subramanian Show more
Healthcare, Market Report
10:38 27.11.2024
India's MedTech industry projected to reach 4.15 lakh crore by 2030
India's MedTech industry, valued at approximately Rs 99,600 crore in 2023, is projected to soar to Rs 4.15 lakh crore by 2030, driven by a 20.1% CAGR. Key factors include evolving disease patterns, an ageing population, and a shift towards preventive care, with over 70% of innovations in start-ups integrating digital technologies. Government reforms and initiatives are fostering domestic manufacturing, positioning India as a potential global hub for MedTech innovation.
Business Today
Indian Rupee EY IND Suresh Subramanian
Healthcare, Market Report
08:30 27.11.2024
india's medtech sector poised for growth through innovation and digital integration
India's MedTech sector, valued at USD 12 billion in 2023, is projected to reach USD 50 billion by 2030, driven by digital integration in over 70% of innovations from startups. Key growth factors include changing disease patterns, demographic shifts, and supportive government initiatives, positioning India as a global hub for MedTech innovation.
Medical Buyer
United States Dollar EY EY Parthenon Apple Inc. IND Suresh Subramanian Show more
Technology & Innovation, Market Report
12:14 26.11.2024
India Emerges as a Global Hub for MedTech Innovation and Growth
India's MedTech sector is experiencing significant growth, driven by digital integration, with over 70% of innovations from startups incorporating advanced technologies like AI and IoT. Valued at USD 12 billion in 2023, the market is projected to reach USD 50 billion by 2030, fueled by supportive government policies and a vibrant startup ecosystem. Key growth factors include changing disease patterns, demographic shifts, and evolving industry dynamics, positioning India as a potential global hub for MedTech innovation.
EY_India
United States Dollar EY Apple Inc. IND Suresh Subramanian
Technology & Innovation, Market Report
01:00 26.11.2024
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