The Medical Devices and Equipment industry in India is valued at US$ 2.5 billion and is growing at an annual rate of 15%. There is clear governmental objective to increase the country’s manufacturing capacity in this sector to make it one of the fastest growing industries in the world. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), with help from government schemes, India can soon be expected to become a major manufacturing hub for sophisticated medical equipment.
China is still the main competitor of India and dominates the market for disposable products. However, India is able to be really competitive when clients are looking for high-quality products and small quantities, as well as specialized steel products like hollowware and autoclaves. India is also recognized for hospital wear and cost-effective basic medical equipment.
Thanks to the excellent cost to quality ratio of Indian medical equipment and, in some cases, its adaptability to countries facing power shortage and lacking basic infrastructure, there is a high demand for these products in emerging markets.
Also, the smaller size of the Indian manufacturing units gives the possibility to fulfill orders faster than in China while keeping the production costs at a low level.
However, since this very dynamic market generates a lot of interest, there is also a lack of clear information and transparency, and we have seen during our survey and visits of manufacturers, a series of products that have not met our criteria of quality or transparency regarding their origin.
The Arsha Consulting team has identified a few Indian manufacturers of medical equipment offering a wide range of niche products that are very competitive.
Contact us to validate if our manufactures can respond to your needs.