India medical device technology market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the rising spending on the healthcare infrastructure and rising prevalence of chronic and infectious diseases in the country. India is considered as one of the promising nations in terms of medical devices manufacturing and marketing. As per the India Brand Equity Foundation (IBEF), in 2019, India was the fourth largest medical devices industry in Asia-Pacific region after Japan, China and South Korea.

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Moreover, with the changing lifestyle and rising urbanization is leading to the rise in the consumption rate of unhealthy diet and lack of physical activity. This, in turn, is augmenting the need for medical devices for the treatment of chronic diseases and infectious diseases in the country. Furthermore, the rise in the medical tourism is another factor driving the purchasing rate of medical devices in hospitals, clinics in India.

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The medical device technology market is classified on the basis of device type, which includes in vitro diagnostics devices, diagnostic imaging devices, cardiology devices, ophthalmology devices, orthopedic devices, and others. Among these devices, the cardiology devices segment holds a significant share in the market, owing to the rising incidences and prevalence of CVD across the region. Such rising incidences of CVD is rising the development of advanced technologies in order to cater the wide patient pool across the region. The India have high incidence and prevalence rate of heart diseases due to sedentary lifestyle, excessive consumption of alcohol, consumption of junk food, high intake of cholesterol and huge number of diabetic and obese patients.

India Medical Device Technology Market Segmentation
India Medical Device Technology Market by Device Type
• In Vitro Diagnostics Devices
• Diagnostic Imaging Devices
• Cardiology Devices
• Ophthalmology Devices
• Orthopedic Devices
• Others (Endoscopy Devices and Respiratory Care Devices)

India Medical Device Technology Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• Abbott Laboratories
• Accurex Biomedical Pvt. Ltd.
• Baxter International, Inc.
• Becton, Dickinson and Co.
• bioMérieux SA
• Cardinal Health, Inc.
• F. Hoffmann-La Roche Ltd.
• Fresenius SE & Co. KGaA
• General Electric Co.
• Johnson & Johnson Services Inc.
• Koninklijke Philips N.V.
• Siemens AG
• Smith & Nephew PLC
• Stryker Corp.


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