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Medical Devices & Disposables Industry in India (Disposable Plastic Syringes, Disposable Mask & Gloves, Blood Bags, X-Ray, Ultrasound, ECG, Pacemakers, IV Fluid Sets and Other Devices, Forecasts Up to 2023 ( ) ( )

Author NPCS Team ISBN 9788193733998
Code ENI266 Format Paperback
Price: Rs 45000   45000 + Tax @ 18.00 % US$ 1000   1000
Pages: 178 Published 2020
Usually Ships within 4 days


Medical Devices & Disposables Industry in India (Disposable Plastic Syringes, Disposable Mask & Gloves, Blood Bags, X-Ray, Ultrasound, ECG, Pacemakers, IV Fluid Sets and Other Devices) Market Analysis, Trends & Opportunities, Growth Drivers, SWOT Analysis, Industry Size, Outlook and Forecasts Up to 2023

The market research report titled ‘‘Medical Devices Industry in India (Disposable Plastic Syringes, Disposable Mask & Gloves, Blood Bags, X-Ray, Ultrasound, ECG, Pacemakers, IV Fluid Sets and Other Devices)  Market Analysis, Trends & Opportunities, Growth Drivers, SWOT Analysis, Industry Size, Outlook and Forecasts Upto 2023’’ released by Niir Project Consultancy Services, provides a comprehensive analysis of Indian medical devices industry. The report begins by giving an overview of the global medical device industry mentioning the global market size of the industry. It further moves to analyse the Indian scenario by citing information like structure and classification of the sector. Despite a high demand for medical devices, It imports ~80% of the devices required. The last few years have seen an increase in domestic manufacturing of medical equipment backed by strong governmental support.

The report analyses the medical devices sector in profundity by covering data points like industry growth drivers, emerging trends coupled with SWOT analysis of the market and the regulatory framework.

The report scrutinizes the potential of the sector by way of measuring its growth drivers. Indian medical device industry is poised for significant growth in coming years backed by factors like booming medical tourism, rising health awareness among Indian populace, growing incidence of lifestyle diseases and the growth of healthcare services in India. Indian medical device industry though dominated by imports has immense potential for growth for industry players to tap. Growing health insurance sector in the country is a key indicator of rising health awareness among Indians. Although India remains as one of the least insured nations in the world, the health insurance penetration is rising gradually. Indian medical devices industry has been in the limelight recently due to increased government focus on encouraging the domestic production in the industry. Indian government has announced a heavy package over various schemes to uplift the industry.

Some of the trends hitting the sector are rising usage of home care devices, remote patient monitoring devices, unprecedented demand for disposables and use of refurbished equipment. India has been experiencing winds of change with the changing cultural attitudes and the millennial consumer. High levels of stress lack of work-life balance and growing need for real time monitoring are some contributing factors to a mounting demand for home healthcare. Also, due to current COVID-19 pandemic situation, India has seen unprecedented growth in the demand and usage of medical disposables such as face masks and gloves. To encourage the domestic production of medical devices in the country, government has announced various schemes supporting the growth of the sector.

The report further scrutinizes the industry with the help of SWOT Analysis. Growing Indian population, favourable demographics and recession proof nature of the industry are some of the strengths of the industry. Indian population has been growing at a steady rate which ensures stable demand for medical devices in India. Medical devices industry constitutes ~4-5% of the overall healthcare industry and is a direct beneficiary of any growth in the healthcare sector. Similarly, change in the Indian demographic situation is another positive factor for the industry’s growth. Indian market offers immense opportunities for sector to tap in terms of rising incomes, escalating government spending on healthcare and low penetration of medical devices in the country. The medical device penetration in India is extremely low which serves as a massive opportunity for the device companies. Plan outlay for healthcare sector has increased from INR 500 billion in 2017-18 to INR 690 billion in 2020-21. Such increased government focus on healthcare puts Indian medical devices industry in a sweet spot. Industry faces challenges from stiff competition from the existing players and also from heavy dependency of industry on imports. The industry although being a high potential industry is bogged down by its high capital requirements. Indian medical device industry is capital intensive by nature and setting up a manufacturing plant requires significant investment. Indian medical device industry, being a part of healthcare industry, is plagued by all the challenges and weaknesses of its giant mother industry. The healthcare situation in India is not very encouraging when compared to other parts of the world and it remains one of the biggest challenges for the Indian medical device industry. Even though India offers the most affordable healthcare services globally, yet the treatment for its own population remains inaccessible and unaffordable to quite an extent. The report further expounds the domestic demand/supply situation of the industry along with the international trade scenario. Indian imports of medical devices have been growing at a CAGR of ~13% during 2016-20. Indian exports of medical devices grew from INR 82 billion in 2016 to INR 127 billion in 2019, thus registering a CAGR of over 15% during this time. The report further provides financial information of the key players in the segment.


Indian medical devices industry, though small, has been growing tremendously in the past few years. Favourable Indian demographics, rising incomes coupled with encouraging government initiatives and rising disease patterns in the country augurs well for the industry as a whole. India, with its large population base and increasing health awareness among its populace, offers a valuable and incomparable opportunity for the medical devices segment. The market size of the Indian medical device industry stood at INR 339 billion in 2017 and is expected to reach new levels by 2023.



Reasons for Buying this Report:

  • This research report helps you get a detail picture of the industry by providing overview of the industry along with the market structure and classification     
  • The report provides market analysis covering major growth driving factors for the industry, latest market trends and insights on regulatory framework in the industry
  • This report helps to understand the present status of the industry by elucidating a comprehensive SWOT analysis and scrutiny of the demand supply situation
  • Report provides analysis and in-depth financial comparison of major competitors
  • The report provides forecasts of key parameters which helps to anticipate the industry performance

Our Approach:

  • Our research reports broadly cover Indian markets, present analysis, outlook and forecast for a period of five years.
  • The market forecasts are developed on the basis of secondary research and are cross-validated through interactions with the industry players
  • We use reliable sources of information and databases, information from which is processed by us and included in the report



Key Words: Medical Devices Industry ,disposable Plastic Syringes, Disposable Mask & Gloves, Blood Bags, X-Ray, Ultrasound, ECG, Pacemakers, IV Fluid Sets, surgical devices, surgical gloves, import, export, healthcare sector, healthcare services, hospital sector, medical tourism, homecare devices, medtech devices, public spending, healthcare penetration, recession proof, The Medical Devices (Amendment) Rules 2020, CDSCO, DCGI, CDA, ventilators, PPE coveralls, PPE kits, Production   Linked   Incentive (PLI) Scheme, Promotion of Medical Device Parks, hospital beds, cancer incidents, diabetes patients, lifestyle diseases, health insurance premium, health insurance penetration, health awareness, medical tourists, favorable demographics, Urbanization, market outlook, Diagnostic imaging, disposables, IV Diagnostics, Dental products, orthopaedic & Prosthetics, Patient Aids, HINDUSTAN SYRINGES & MEDICAL DEVICES LTD, Opto Circuits, Wipro GE Healthcare, Market Research Reports, India and Global Industry Analysis ,Market Trends, Market Insight,  Market structure, Market  outlook Indian Industry Size, Share, Trends, Analysis and Forecasts report, sector Growth Driver, company profiles, key financials, ratios





1.            OVERVIEW         



1.2.1      Structure            

1.2.2      Classification     

2.            MARKET ANALYSIS         

2.1          GROWTH DRIVERS          

2.1.1      Medical Tourism Boom 

2.1.2      Rising Health Awareness             

2.1.3      Growing Incidence of Lifestyle Diseases & NCD’s             

2.1.4      Growth of the Hospital Sector   

2.1.5      Increased Governmental Impetus          

2.1.6      Emerging Home Healthcare Segment    

2.2          EMERGING TRENDS       

2.2.1      Rising Usage of Home Care Devices        

2.2.2      Remote Patient Monitoring Devices       

2.2.3      Unprecedented Demand for Disposables            

2.2.4      Refurbished Equipment               

2.3          REGULATORY FRAMEWORK       

2.3.1      Governing Bodies           

2.3.2      Current Scenario             

2.4          SWOT ANALYSIS              

2.4.1      Strengths      Growing Market Base   Part of the Recession Proof Industry   Favorable Demographics             

2.4.2      Weaknesses   Low Healthcare Penetration   Lack of Accessibility   Capital Intensive Nature         Lack of Trained Personnel           

2.4.3      Opportunities   Rising Disposable Incomes     Rising Government Spending on Healthcare   Low Penetration of Medical Devices   Urbanization     

2.4.4      Threats   Competition   Dependency on Imports              

3.            MARKET POTENTIAL      


3.2          INTERNATIONAL TRADE               

3.2.1      Imports               

3.2.2      Exports

4.            KEY PLAYERS     

4.1          HINDUSTAN SYRINGES & MEDICAL DEVICES LTD               

4.2          OPTO CIRCUITS (INDIA) LTD       

4.3          WIPRO GE HEALTHCARE PVT LTD             

5.            KEY FINANCIALS & ANALYSIS     

5.1          CONTACT INFORMATION            

5.1.1      Registered Office Address          

5.1.2      Director’s Name              

5.2          KEY FINANCIALS              

5.2.1      Plant Location   

5.2.2      Raw Material Consumption        

5.2.3      Plant Capacity & Sales   

5.2.4      Credit Ratings   

5.3          FINANCIAL COMPARISON           

5.3.1      Assets  

5.3.2      Liabilities             

5.3.3      Growth in Assets & Liabilities     

5.3.4      Structure of Assets & Liabilities 

5.3.5      Income & Expenditure 

5.3.6      Growth in Income & Expenditure            

5.3.7      Profits  

5.3.8      Liquidity Ratios 

5.3.9      Profitability Ratios          

5.3.10    Return Ratios    

5.3.11    Working Capital & Turnover Ratios          

6.            INDUSTRY OUTLOOK     



Figure 1 Global Medical Devices Industry- Market Size (2013-23E, In USD Billions)             

Figure 2 Indian Medical Devices Industry- Structure        

Figure 3 Indian Medical Device Industry- Classification   

Figure 4 Medical Tourist Arrivals & their Share in India (2015-18)

Figure 5 Number of Heath Insurance Policies & People Covered in India (In Millions, 2015-19)     

Figure 6 Diabetes Patients in India (In Millions, 2017-45)

Figure 7 Cancer Incidents in India (In Millions, 2014-18)  

Figure 8 Number of Hospitals & Hospital Beds in India (In Numbers, 2019)            

Figure 9 Indian Population (2017-25E, In Billion Numbers)             

Figure 10 Indian Healthcare Sector- Market Size (In USD Billions, 2016-23E)          

Figure 11 Share of Elderly Population in India (Percentage, 2015-50)        

Figure 12 Total Healthcare Expenditure in Developed Countries (Percentage of GDP)     

Figure 13 Monthly Per Capita Income in India (In INR, 2017-20)  

Figure 14 Per Capita Public Health Expenditure & Share in GDP (In INR, 2010-18)

Figure 15 Budget Plan Outlay for Healthcare Sector in India (In INR Billions, 2018-21)        

Figure 16 Per Capita Penetration of Medical Devices in the World (In USD)           

Figure 17 Urban Population in India (Percentage, 2015-25E)        

Figure 18 Medical Device Imports in India (In INR Billions, 2016-23E)        

Figure 19 Category Wise Break Up of Medical Device Imports in India (In Percentage, 2019)         

Figure 20 Medical Device Exports from India (In INR Billions, 2016-23E)   

Figure 21 Indian Medical Device Industry- Market Size (In INR Billions, 2017-23E)               


Table 1 Risk Classification of Medical Devices in India      

Table 2 Growth of Public Sector Hospitals in India (In Numbers, 2013-19)              

Table 3 Production Capacity of Masks in India    

Table 4 Medical Devices Licensing Authority & Deadline for License         

Table 5 List of 37 Exempted Medical Devices      

Table 6 Import of Medical Devices from India- Product Wise (Amount in INR Millions, 2019-20)  

Table 7 Export of Medical Devices from India- Product Wise (Amount in INR Millions, 2019-20)   




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And before diversifying/venturing into any product, wish to study the following aspects of the identified product:

• Good Present/Future Demand
• Export-Import Market Potential
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• Project Costs and Payback Period

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• Why I should invest in this project?
• What will drive the growth of the product?
• What are the costs involved?
• What will be the market potential?

The report first focuses on enhancing the basic knowledge of the entrepreneur about the main product, by elucidating details like product definition, its uses and applications, industry segmentation as well as an overall overview of the industry sector in India. The report then helps an entrepreneur identify the target customer group of its product. It further helps in making sound investment decision by listing and then elaborating on factors that will contribute to the growth of product consumption in India and also talks about the foreign trade of the product along with the list of top importing and top exporting countries. Report includes graphical representation and forecasts of key data discussed in the above mentioned segment. It further explicates the growth potential of the product.

The report includes other market data like key players in the Industry segment along with their contact information and recent developments. It includes crucial information like raw material requirements, list of machinery and manufacturing process for the plant. Core project financials like plant capacity, costs involved in setting up of project, working capital requirements, projected revenue and profit are further listed in the report.

Reasons for buying the report:

• This report helps you to identify a profitable project for investing or diversifying into by throwing light to crucial areas like industry size, demand of the product and reasons for investing in the product.

• This report provides vital information on the product like its definition, characteristics and segmentation.

• This report helps you market and place the product correctly by identifying the target customer group of the product.

• This report helps you understand the viability of the project by disclosing details like raw materials required, manufacturing process, project costs and snapshot of other project financials.

• The report provides forecasts of key parameters which helps to anticipate the industry performance and make sound business decision.


Our Approach:

• Our research reports broadly cover Indian markets, present analysis, outlook and forecast.

• The market forecasts are developed on the basis of secondary research and are cross-validated through interactions with the industry players. 

• We use reliable sources of information and databases.  And information from such sources is processed by us and included in the report.


Our Market Survey cum Detailed Techno Economic Feasibility Report Contains following information:



Ø  Introduction

·         Project Introduction

·         Project Objective and Strategy

·         Concise History of the Product

·         Properties

·         BIS (Bureau of Indian Standards) Provision & Specification

·         Uses & Applications


Ø  Market Study and Assessment

·         Current Indian Market Scenario

·         Present Market Demand and Supply

·         Estimated Future Market Demand and Forecast

·         Statistics of Import & Export

·         Names & Addresses of Existing Units (Present Players)

·         Market Opportunity


Ø  Raw Material

·         List of Raw Materials

·         Properties of Raw Materials

·         Prescribed Quality of Raw Materials

·         List of Suppliers and Manufacturers


Ø  Personnel (Manpower) Requirements

·         Requirement of Staff & Labor (Skilled and Unskilled) Managerial, Technical, Office Staff and Marketing Personnel


Ø  Plant and Machinery

·         List of Plant & Machinery

·         Miscellaneous Items

·         Appliances & Equipments

·         Laboratory Equipments & Accessories

·         Electrification

·         Electric Load & Water

·         Maintenance Cost

·         Sources of Plant & Machinery (Suppliers and Manufacturers)


Ø  Manufacturing Process and Formulations

·         Detailed Process of Manufacture with Formulation

·         Packaging Required

·         Process Flow Sheet Diagram


Ø  Infrastructure and Utilities

·         Project Location

·         Requirement of Land Area

·         Rates of the Land

·         Built Up Area

·         Construction Schedule

·         Plant Layout and Requirement of Utilities


Project at a Glance

Along with financial details as under:


  •     Assumptions for Profitability workings

  •    Plant Economics

  •    Production Schedule

  •    Land & Building

            Factory Land & Building

            Site Development Expenses

  •    Plant & Machinery

             Indigenous Machineries

            Other Machineries (Miscellaneous, Laboratory etc.)

  •    Other Fixed Assets

            Furniture & Fixtures

            Pre-operative and Preliminary Expenses

            Technical Knowhow

            Provision of Contingencies

  •   Working Capital Requirement Per Month

             Raw Material

            Packing Material

            Lab & ETP Chemical Cost

           Consumable Store

  •   Overheads Required Per Month And Per Annum

         Utilities & Overheads (Power, Water and Fuel Expenses etc.)

             Royalty and Other Charges

            Selling and Distribution Expenses

  •    Salary and Wages

  •    Turnover Per Annum

  •   Share Capital

            Equity Capital

            Preference Share Capital


  •    Annexure 1:: Cost of Project and Means of Finance

  •    Annexure 2::  Profitability and Net Cash Accruals


                Expenses/Cost of Products/Services/Items

                Gross Profit

                Financial Charges     

                Total Cost of Sales

                Net Profit After Taxes

                Net Cash Accruals

  •   Annexure 3 :: Assessment of Working Capital requirements

                Current Assets

                Gross Working. Capital

                Current Liabilities

                Net Working Capital

                Working Note for Calculation of Work-in-process

  •    Annexure 4 :: Sources and Disposition of Funds

  •    Annexure 5 :: Projected Balance Sheets

                ROI (Average of Fixed Assets)

                RONW (Average of Share Capital)

                ROI (Average of Total Assets)

  •    Annexure 6 :: Profitability ratios


                Earnings Per Share (EPS)


             Debt Equity Ratio

        Annexure 7   :: Break-Even Analysis

                Variable Cost & Expenses

                Semi-Var./Semi-Fixed Exp.

                Profit Volume Ratio (PVR)

                Fixed Expenses / Cost 


  •   Annexure 8 to 11:: Sensitivity Analysis-Price/Volume

            Resultant N.P.B.T

            Resultant D.S.C.R

   Resultant PV Ratio

   Resultant DER

  Resultant ROI

          Resultant BEP

  •    Annexure 12 :: Shareholding Pattern and Stake Status

        Equity Capital

        Preference Share Capital

  •   Annexure 13 :: Quantitative Details-Output/Sales/Stocks

        Determined Capacity P.A of Products/Services

        Achievable Efficiency/Yield % of Products/Services/Items 

        Net Usable Load/Capacity of Products/Services/Items   

       Expected Sales/ Revenue/ Income of Products/ Services/ Items   

  •    Annexure 14 :: Product wise domestic Sales Realisation

  •    Annexure 15 :: Total Raw Material Cost

  •    Annexure 16 :: Raw Material Cost per unit

  •    Annexure 17 :: Total Lab & ETP Chemical Cost

  •    Annexure 18  :: Consumables, Store etc.,

  •    Annexure 19  :: Packing Material Cost

  •    Annexure 20  :: Packing Material Cost Per Unit

  •    Annexure 21 :: Employees Expenses

  •    Annexure 22 :: Fuel Expenses

  •    Annexure 23 :: Power/Electricity Expenses

  •    Annexure 24 :: Royalty & Other Charges

  •    Annexure 25 :: Repairs & Maintenance Exp.

  •    Annexure 26 :: Other Mfg. Expenses

  •    Annexure 27 :: Administration Expenses

  •    Annexure 28 :: Selling Expenses

  •    Annexure 29 :: Depreciation Charges – as per Books (Total)

  •   Annexure 30   :: Depreciation Charges – as per Books (P & M)

  •   Annexure 31   :: Depreciation Charges - As per IT Act WDV (Total)

  •   Annexure 32   :: Depreciation Charges - As per IT Act WDV (P & M)

  •   Annexure 33   :: Interest and Repayment - Term Loans

  •   Annexure 34   :: Tax on Profits

  •   Annexure 35   ::Projected Pay-Back Period And IRR