Top 5 countries for import and export of medical devices
Market sysnopsis
India’s medical device market in numbers
- India among the Top 20 markets for medical devices in the world
- 4th largest medical device market in Asia• India’s medical device market size expected to reach $50 billion by 2025
- Diagnostic imaging, dental products and consumables are expected to grow at a CAGR of 7.1%, 7.4% & 7.1%,respectively during 2015-2020
- Orthopaedic prosthetics and patient aids segments to be the two fastest-growing verticals by 2020 and areprojected to grow at a CAGR of 9.6% and 8.8%, respectively
- Imports of medical devices in 2019 grew by 24 % YoY and exports grew by 29% YoY
- There are 750 - 800 domestic medical devices manufacturers in India
Top 5 medical device & equipment import countries for 2019
There are a range of Medical Device Clusters thathave emerged due to supportive state-level policies aswell as the availability of skilled labour. The top fivecountries from where medical devices were importedincluded the US, Germany, and China, as well as the Netherlands and Singapore. Growth in imports fromthe US, however, fell in 2019 with a 3% growth,compared to 7% in 2018. Germany saw double-digitgrowth of 22% over the previous year, while China saw13% growth, Singapore 97%, and Netherlands 257%.
