Exploring the Growth Dynamics of India's Medical Device Industry: Key Issues and Challenges

Shailender Kumar Hooda ()
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Shailender Kumar Hooda: Institute for Studies in Industrial Development, New Delhi

Working Papers from Institute for Studies in Industrial Development (ISID)

Abstract: Medical devices are most crucial segments of a country’s healthcare system. This paperfirstreviews and identifies the demand and supply side factors, encompasses of socio-economic, market-enabling, technological and policy instruments, that could drive the growth of the medical device industry and then highlights some key issues and challenges the sector is grappling with. The study noted that, despite being several enabling factors for the sector’s growth, India primarily manufactures medical equipment within the low-tech segment, from consumable to implantable devices. This leaves domestic requirement unmet in other segments, pushing the country to import expensive equipment in advanced technology segment. This drives up the cost of medical equipments, leading to higher diagnostic test fees for end-users, which in turn places a significant out-ofpocket expenditure burden on households for diagnostic services.

Keywords: Medical Devices; Surgical Equipment; Manufacturing; Trade; Diagnostic Test; Retail Price; End-Users; Technology; Medical Device Park; PLI (search for similar items in EconPapers)
JEL-codes: L6 L64 L65 (search for similar items in EconPapers)
Pages: 06 pages
Date: 2024-12
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Persistent link: https://EconPapers.repec.org/RePEc:sid:wpaper:290a

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