India is hailed as the `pharmacy of the developing world’ because of the huge strides we have made in innovation, product development and export. But, when it comes to medical devices industry in general and in-vitro diagnostics (IVD) sector in particular, we still remain a heavily import-driven consumer country with not much happening to stimulate local manufacturing.
At present, India has a very minimal share of one percent in the world IVD market which is worth around $60.3 billion. Going by the past performance in the recent years, the market is expected to grow at a CAGR rate of 6% and then would reach $74.46 billion by 2020. But, riding on several conducive domestic factors, the Indian IVD industry has the potential to outgrow the global rate. According to some projections, we will claim at least 2% of the global industry share by 2020, assuming that we would register a CAGR of 15-20%.
Denne historien er fra January 2017-utgaven av Healthcare Radius.
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Denne historien er fra January 2017-utgaven av Healthcare Radius.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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KIMSHEALTH launches electrophysiology lab with 3D mapping
'ENSITE X' is the first of its kind in Kerala and the third in India enabling precise identification, mapping, and targeting the abnormal electrical activities in the heart.
Molbio boosts Goa's healthcare system with CSR initiatives
The company has donated four state-of-the-art Advanced Life Support (ALS) ambulances and two hearse vans for National Highway emergencies
USV introduces affordable heart failure medication
This cost-effective option addresses the rising cases of heart failure in India, offering lifesaving care to millions of patients who need it the most.
City Imaging & Clinical Labs to expand services to 50 hospitals
The company is currently associated with 10 hospitals, providing comprehensive lab management services, including 24/7 in-house phlebotomy and lab testing.
Oncare raises $1 million in seed funding, to set up 10 units
Oncare has raised $1 million in a seed funding round led by Huddle Ventures. It plans to deploy the raised capital to expand its operations to 10 new centers.
Nutrabay forays into Ayurvedic supplements market with Shilajit
Nutrabay's aims at gaining market share from the existing ayurveda supplements market with a distinctive product proposition and education about the benefits of Shilajit.
INDIA'S PREPAREDNESS ON HEALTHCARE-ASSOCIATED INFECTIONS: A GROWING FOCUS ON PATIENT SAFETY
The country's diverse healthcare landscape necessitates a flexible and multifaceted approach to infection control that can be adapted to various settings and resource levels.
TRANSFORMING CARDIAC SURGERY: HOW AI IS REVOLUTIONIZING PATIENT CARE AND OUTCOMES
Dr. Swarup Swaraj Pal shared his insights on the current state and future prospects of AI in cardiac procedures.
BEYOND THE LAB: THE CRITICAL ROLE OF LOGISTICS IN INDIA'S PHARMACEUTICAL INDUSTRY
As India continues to expand its role in the global pharmaceutical market, the importance of a robust, reliable, and innovative logistics infrastructure cannot be overstated.
LIFESTYLE DISEASES IN CHILDREN: A WAKE-UP CALL FOR A HEALTHIER GENERATION
In today's fast-paced world, children face an unexpected enemy: lifestyle diseases. Conditions like obesity, Type 2 diabetes, and hypertension are now affecting our youth. What's causing this shift, and how can we combat it?
