New Delhi: BioVoice News and International Contract Pharma Association have released the maiden edition of ‘The MedTech India Handbook 2023’ to showcase India as a leading destination for global investment at an international forum.
The Handbook themed as “MedTech in India: A Promising Investment Destination” was launched at the India Connect Pavilion by the Indian delegation during world’s largest medical technology event – The MedTech Conference on October 9, 2023 in Anaheim, California, USA.
The event will witness the presence of 200+ exhibitors, 4000+ executives, investors, decision makers from 60+ countries.
As India is fast emerging a leading destination for MedTech investments, this handbook will act as a pitch book for the Indian stakeholders. The handbook will offer valuable insights into India’s MedTech landscape, featuring trends and insights by top CXOs and policymakers. It will analyze long-term trends and offer a range of scenarios on how India’s medical technology sector might evolve up to 2030.
It will offer a series of deep dives exploring opportunities for international stakeholders to invest or partner in India. It will also highlight the government and private sector’s intent to attract international players to develop and manufacture for India and the rest of the world.
The report features a foreword by Prof. Ajay Kumar Sood, Principal Scientific Advisor to the Government of India where he compliments the publishers and also exhorts the medical devices stakeholders to work on realizing the sector’s full potential.
Apart from the sectoral analysis, the report also features leading figures from the industry and government agencies who share their valuable opinions on the trends within the sector.
The India MedTech Handbook 2023 can be accessed here.
The report has been supported by the Principal Scientific Advisor to Government of India, Biotechnology Research Assistance Council (BIRAC), and Andhra Pradesh Medical Technology Zone (AMTZ).
The industry contributors include Bioneeds India Private Limited, J Mitra & Co, Fujifilm India, Trivitron Healthcare, and Mylabs Discovery Solutions.
As of 2020, the medical devices market is estimated to be at US$ 12 billion in India, and it is expected to grow at a CAGR of 15%, which is 2.5 times the global growth rate. India is the 4th largest Asian medical devices market after Japan, China, and South Korea. The various reports suggest that the export of medical devices from India is expected to rise to US$ 10 billion by 2025.
With an enormous growth potential to reach US$ 50 billion by 2030, the Indian MedTech sector aspires to be among top 20 global hubs.
