Indian mediacl device market size in domestic space is estimated at $2.5 Billion. Despite strong growth rates, the market remains disproportionately small with per capita spending of less than US$3.0. The market is forecast to grow at a 2013-2018 CAGR of 14.9% in local currency terms, equal to a US dollar CAGR of 15.0%, making India one of the fastest growing markets in the world.
LONG TERM FUTURE:
The market will continue to be import led, although the current drive to develop the local manufacturing industry is likely to result in increased competition from domestically produced devices in the longer term.
WHICH INDIAN STARTUP IS LEADING IN THIS SPACE?
Trivitron Medical Device and medical technology company is leading in this space and reached Rs 500 crores revenue in FY13
GLOBAL MNCs LEADING IN THIS SPACE
Siemens, Phillips & Low cost Chinese Products
WHY IS MEDICAL DEVICES BUSINESS A GOOD BUSINESS MODEL?
As health care is a recession proof industry and our Indian Pharma stocks were not impacted during in recent recession.