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Do You Know These facts About The Medical Device Industry In India?

Postby A K Rao » 11 Aug 2018, 18:04

There are some interesting facts to know about the Medical Device Industry In India.

1. The Medical device industry India contributes 4 to 5% to the Indian Health Care Industry.
2. India has about 750 to 800 Medical Device Manufactures in the Country.
3. India is counted among top 20 Global Medical Device Market.
4. india is 4th largest Medical Device Market in Asia only next to Japan, China and South Korea.
5. with the liberalization of Global Policies some famous MNCs like Beckton Dikinson's (BD) and Philips Medical System have set up their factories in India.
6.Currently because of new policies only 15 categories of devices are categorized under drugs to make the Devices easier to sold in the market.
7. The new tax rate of GST is now got reduced from 13% which were to be paid at different levels to 12% which is a big boon for eth Medical Device Industry which will help teh industry to have lower cost of manufacturing.

Did you know any of above facts? Thanks!
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Re: Do You Know These facts About The Medical Device Industry In India?

Postby ceci » 13 Aug 2018, 08:53

Thanks for the facts and information. I didn't know this before this, I though those specialized devices mostly from USA and Germany.
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Re: Do You Know These facts About The Medical Device Industry In India?

Postby skysnap » 13 Aug 2018, 09:32

I think in future lot of medical devices are going to be there. And we are going to learn a lot in the due process.
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Re: Do You Know These facts About The Medical Device Industry In India?

Postby A K Rao » 13 Aug 2018, 10:56

ceci wrote:Thanks for the facts and information. I didn't know this before this, I though those specialized devices mostly from USA and Germany.


Under the Scheme of 'Make In India' many other Multi national Companies are also expected to join with other Companies in India soon in manufacturing of Medical devices. Government has made the official procedures very easy now a days for having various permissions and licenses which is a big relief for such companies! Thanks!
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