NEW DELHI: Between FY12 to FY16, the import of medical devices into India increased by 16.8 percent, whereas export increased by 25.7 percent, as per the key findings of a government led study in collaboration with Andhra Pradesh MedTech Zone (AMTZ) and World Health Organisation (WHO).
India is one of the top 20 global medical device markets and the 4th largest medical device market in Asia.
The import of medical devices has grown from USD 2.46 billion (Rs159 million) in FY12 to USD 2.87 billion (Rs186.5 million) in FY16. The export of medical devices has grown from USD 0.78 billion (Rs507 million) in FY12 to USD 0.98 billion (Rs637 million) in FY16.
Diagnostic imaging (e.g. CT scan, X-Ray, MRI, USG, X ray-tubes etc.), IV Diagnostic (lab equipment and reagents, etc.) and Other Medical Device (ECG, opthal equipment, heart lung machine, etc.) form 70% of total import in India in FY16.
However it is estimated that import trade will fall with increasing number of international and Indian manufacturers setting up medical device manufacturing in India.
Diagnostic imaging, consumables and other medical devices form 86 percent of total export trade in India in FY1613. Amongst the exporters’ portfolio, USA was the chief destination for export and contributes close to 15 percent of the export trade. Singapore, Germany and China were the other leading export destinations with shares of 7.0 percent, 6.7 percent and 6.4 percent respectively.
The European Union (including Germany) cumulatively constitutes of 21.7 percent of the total export trade13. USA, Germany, China, Japan, and Singapore constitute the five largest exporters of high technology medical equipment to India.
In FY 2015 imports alone from these five countries accounted for approximately 65 percent of total import of high technology medical equipment while USA, remained the largest exporter accounting for 28.1 percent.
While technological advancement and expertise that the global market leaders offered has proved to be an advantage, India’s medical device sector is dominated by multi-national companies, which is evident from the fact that about 78% of the sales are generated by imported medical devices.
