India is The Rising Hub For Medical Devices in Asia
INTRODUCTION & SNAPSHOTS
India looks all set and is already occupying 4th position as the exporter of medical equipment.
The healthcare sector is one of the largest economies in India. It employs a huge chunk and also generate s a lot of revenue.
Many diseases like polio have been successfully eliminated so far. Moreover, infant mortality rates have also declined. The industry aims to touch the $ 280 bn. mark by 2025.
The retail market for medical devices is pegged at $ 9.3 – $ 10.8 bn. The medical devices include, but are not limited to diagnostic consumables, patient aids, orthos and prosthetics, and dental products.
They formed about 86 % of the total trade volume in FY 2106-17.
The other top grossers are China, Japan, and Singapore apart from the European Union. India’s medical industry is poised for a huge leap within the next 5 years. With policies getting liberalized, and a FDI of 100 %, things tend to look up. India’s population is also set to cross the 1.45 bn. mark by 2028. It is one of the growth drivers. The last few decades, the medical industry has undergone a sea of change. Things look up from here.
The Medical Devices Market is anticipated to grow significantly owing to the rise in geriatric population. Fortune Business Insights in a new study, titled “Medical Devices Market Size, Share and Global Trend by Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic Devices, Dental & Nephrology), End User (Hospitals & Ambulatory Surgical Centers and Clinics) and Geography Forecast till 2025” finds that in-vitro diagnostics is likely to dominate the medical devices market. According to the study, the segment covered a share of 14.6% in the global medical devices market in the year 2017.
Market Size, Scope Growth & Investment Opportunities
- Medical devices industry is estimated$11bn in current situation.
- The market size is expected to reach $50bn by 2025.
- 100% FDi is allowed under the automatic route for both brownfield & green field set up.
- Over the last 5 yrs Govt of India has taken several steps to ensure vibrant ecosystem & medical devices growth of the sector.Imports$6.2bn, Exports $2.1bn export of devices to be reached by $10bn by 2025.
- Overall Medical devices Industry is to supposed to reach $50 bn by 2025
- Industry segregated into six major segments viz Consumable & disposable,dignostics, Dental products, Orthopedics & prosthetics,Patients &Aids.
- Govt, Commitments are strong under new rules and regulatory structures like 4 medical devices parks are under construction. Aging population required home based medical devices so the demographics.
- R&D capacity to improve through Nascent Industry.
Total 8 projects are going on in India out of this are 5 Private projects & 3 are Govt. Projects which is having a handsome investment opportunies $259.72mn ^ in 7 districts across India with 7 promoters. The medical device market is projected to expand at a CAGR of 5.3% between 2017 and 2025. In 2017, the market accounted for a value of US$ 397.5 Bn and is likely to reach US$ 602.1 Bn by 2025.
The medical device industry is currently witnessing high growth due to increasing demand in hospitals and surgical centers. The rapid adoption of medical devices across hospitals is driving the global medical device market. Fortune Business Insights predicts hospitals and surgical centers to remain dominant in the coming years. Increasing expenditure on healthcare and expansion of healthcare infrastructure, especially in emerging nationsare anticipated to drive this segment between 2017 and 2025.
In terms of region, North America is expected to emerge dominant over the forecast tenure. Presence of large number of companies, coupled with huge R&D investments, is boosting the medical devices market in North America. Other regions such as Asia Pacific are expected to show considerable growth opportunities to the medical devices market over the forecast period.
Stringent FDA Regulations on the Approval of Medical Devices May Hamper the Growth.
SCOPE- INVEST INDIA – “WMN” VITAL ROLE IN TERMS OF FDI
”WMN” is playing an important role in all the categories and sectors,
“ WORLD MEDIA NETWORK” is venturing into a Press Release distribution company covering over 180 countries and more than twenty-five languages across the world. Covering Digital News, Television, Print, Radio, Billboards, Airports, Multiplexes,Talk shows .
Press releases are based on Industry standards and timely Coverages help in business development and scope of growth among the countries and FDI’s “WMN” is helping upcoming n existing businesses to grow within the perpetual business as the government is working towards domestic and international Tie-Ups .
Most service-oriented industries need to be promoted through WMN with direct and indirect participation and looking for opportunities for Franchising modules in the world.
“WMN” LEAD GENERATION
There are two types of lead within the lead generation market: sales leads and marketing leads. A Sales lead is generated on the basis of demographic criteria such as FICO score (United States), income, age, home Income, psychographic, etc. These leads are resold to multiple advertisers. Lead generation describes the marketing method of stimulating and capturing interest in a very product or service for the purpose of developing a sales pipeline. Lead generation typically uses digital channels and has been undergoing substantial changes in recent years from the increase of the latest online and social techniques.
MINISTRIES OF THE GOVT.OF INIDA “WORLD MEDIA NETWORK” ASSISTANCE
“ WMN’’ will guide the corporates/ company/ individuals in establishing the business in India depending on the states to get the required permissions from the Ministries of The Government of India.
The Ministries include
Ministry of Health
Ministry of Railways
Ministry of Power
Ministry of Electronics & Information & Technology
Ministry of Communication
Ministry of Tourism & Transport
Ministry of Civil Aviation
Ministry of Petroleum & Natural Gas
Ministry of Chemicals & Fertilizers.
Ministry of Commerce & Industry
Ministry of Ayush
Ministry of Agriculture & Farmers
Ministry of Department of North East region
Ministry of Earth Sciences
Ministry of Environment, Climate change & Forest
Ministry of External affairs &Finance
Ministry of Fisheries, Animal Husbandry, Dairying
Ministry of Heavy Industries& Public Enterprises
Ministry of Home Affairs, Housing &Urban Affairs.
Ministry of Human Resources Development
Ministry of Information &B broadcasting
Ministry of Jal Shakti
Ministry of Law &Justice
Ministry of Labour &Employment
Ministry of MSME’s
Ministry of Mines
Ministry of minority affairs
Ministry of New & Renewable Energy
Ministry of Panchayat Raj
Ministry of Parliamentary Affairs
Ministry of Personnel, Public Grievances & Pension
Ministry of Science & Technology
Ministry of Rural Development
Ministry of Road Transport & Highways
Ministry of Shipping
Ministry of Skill Development & Entrepreneurship.
Ministry of Social Justice & Empowerment
Ministry of Steel, Textiles, Tribal affairs.
Ministry of Women & Child Development
Ministry of Youth Affairs & Sports
Ministry of Statistics & Programme Implementation.
RURAL MARKET IN INDIA& INVEST IN INDIA
Importance of brand visibility in Rural Markets of India for high brand Recall & Pull. It’s easy to ignore other languages if one the dominant language makes up the majority. While English does make for the majority, there is a section that only consumes content in a regional language and this section could be your most important target audience. To be present Indic content we also encouraging websites to enagage consumers in multiple languages.
”WMN”is going to support in many ways through various resources. In Moral, Development of any country not only depends on the continuous development of the urban areas but also relies on the development of the small towns and rural areas. Government, as well as individual actions together, contribute towards the success of any country as a whole. The Major industries in Rural market segments are mainly covered with as….
2) ORGANIC FARMING.
5)FIVE STORES IDEAS ie SEEDS & FERTILIZERS STORE,GROCERY STORES,ICECREAM & SWEET STORES,CLOTHING & CHEMISTS STORES.etc.
6) DAIRY FARM BUSINESS
7)POULTRY,SMALL SCALE UNITS MANUFACTURING UNITS & CONSTRUCTIONS.
8)LOW BUDGET VILLAGE BUSINESSES etc.