Increasing Lifestyle Disorders Coupled with Affordability, Driving Medical Devices Market

New York, NY, April 14, 2013 --(PR.com)-- Global market intelligence firm Netscribes Inc. has launched its report on Medical Devices Market in India 2013. Increasing population along with low penetration of healthcare facilities is going to help medical devices industry to grow at a steady rate. Factors like increasing health consciousness among people, coupled with better affordability will help to drive the medical devices market.

The report begins with macro economic indicators whereby the basic economic indicators have been depicted. In the introduction section the definition of medical devices as well as risk categories has been defined. In the market overview section the market size of the healthcare industry has been depicted. Thereby, the market size of the medical devices market has been forecasted. Major segments of medical devices and their relative share have been provided. Major segments of healthcare industry have been explained. Further, the report depicts the division of refurbished and new medical equipments in the market and also the regional demand for medical devices. Market size of the major segments in medical equipment industry has been calculated. In the next section import and export of medical devices for the last four years has been highlighted. Also, the major countries for import and export for medical devices is depicted. Thereafter, the distribution channel has been explained.

In the next section, drivers and challenges has been highlighted. Drivers include improving health infrastructure which has caused the increased demand of medical devices from more number of hospitals/nursing homes, clinics and standalone pathology labs. The government has been spending more on healthcare needs which is supposed to increase demand for medical devices. As disposable income increases and more people become aware of the diseases, spending in healthcare segment will increase. Changing demographics will also be a major contributor. As more people reach close to sixty years of age they are likely to develop some heart complications, thus increasing the demand for medical devices. Increase in lifestyle diseases as well as huge boom in the medical tourism sector will see the market grow. Higher penetration of medical insurance will help people to go for operations helping the medical devices market to grow. There are however a few challenges which include high dependency on imports and lack of poor regulatory structure.

Trends include outsourcing of manufacturing facilities by some of the major international players in order to remain cost competitive and penetrate the Indian market. Increasing JVs and tie-ups with local players is also being adopted by the industry. Companies take part in various exhibitions and fairs to showcase their products. There is a latent demand for refurbished products from various tier II hospitals and clinics. In order to maintain a leading edge, manufacturers are focusing on cost reduction and innovation. It is in this attempt that they are using plastics in medical devices. In the next section various government initiatives, rules and regulations have been highlighted.

The competitive landscape section begins with a Porter’s five forces model which analyses the dynamics of the market. The major players in the healthcare market have been profiled which includes a financial summary for each of the players. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the cardiac pacemaker market. For each of the companies, a SWOT analysis has been provided. In the following section recent investments in the medical devices industry has been listed. The final section contains strategic recommendations which will be instrumental for the companies to garner a larger market share.