Cohesive government policies will escalate India medical device technology market

India medical device technology market is projected to grow at a significant CAGR of around 2.8% during the forecast period (2020-2026). The medical device technology market in India is expected to grow at a considerable growth, owing to the rise in the prevalence of chronic and infectious diseases, such as cancer and CVD. Moreover, the government support for the growth of the healthcare industry in India due to the rising medical tourism is further backing up to the growth of the Indian medical device technology market in the country. Furthermore, the increase in the medical institutions and hospitals will further augment the demand for medical device technology in India.

Browse the full report description India Medical Device Technology Market Size, Share & Trends Analysis Report by Device Type (In Vitro Diagnostics Devices, Diagnostic Imaging Devices, Cardiology Devices, Ophthalmology Devices, Orthopedic Devices, and Others) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/india-medical-device-technology-market

The government initiatives, such as ‘Make in India’ is bolstering the growth of the market in India. Such initiatives are motivating the medical device manufacturers and end-users of medical devices to augment the domestic market in terms of the medical device. In March 2020, the Government of India announced a package of around $1.9 billion for the setting up of the bulk drugs and medical devices parks in the country. With such huge allocation of fund for the manufacturing of the medical devices, the pharma manufacturing and medical device manufacturing industry will project growth during the forecast period. 

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment dominates the market in base year?
• Which segment will project fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?

o Recovery Timeline

o Deviation from pre-COVID 

o Most affected segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

India Medical Device Technology Market – Segmentation

By Product Type

• In Vitro Diagnostics Devices
• Diagnostic Imaging Devices
• Cardiology Devices
• Ophthalmology Devices
• Orthopedic Devices
• Others (Endoscopy Devices and Respiratory Care Devices)