INDIA – Overview of medical device industry and healthcare statistics

Below you will find basic demographic and healthcare market data on India, plus specific information about the medical device and healthcare industries.

Overview of medical device industry: The Indian medical device market is growing steadily. It was valued at US$3.5 billion in 2015 and could expand to approximately US $4.8 billion by 2019. As India's economic, healthcare, and social landscapes evolve, its medical device market emerges as a promising opportunity for foreign manufacturers.

Opportunities in the Indian market: India relies on imports to supply its healthcare system with medical technology. The medical tourism and luxury healthcare markets are among India's fastest-growing industries, which create significant demand for specialized, high-tech medical equipment. There is consistent demand for surgical instruments, cancer diagnostics, orthopedic and prosthetic equipment, imaging, orthodontic and dental implants, and electro medical equipment.

Industry challenges in India: Medical device regulation in India only apply to certain product categories. However, India's underdeveloped regulatory framework is a significant obstacle for foreign manufacturers of regulated device types. The weak rupee makes it difficult for some medical device companies to remain profitable in this market, particularly for manufacturers competing with low-cost Chinese products. Also, foreign manufacturers will also encounter significant competition from American, European, and Japanese companies.

How India compares to other markets

  INDIA Compare to
UNITED STATES
Compare to
CHINA
Population 1,251,695,584 321,368,864 1,367,485,388
Primary language(s) Hindi English Chinese, Mandarin
Total healthcare spending $93 billion $3 trillion $574 billion
Healthcare expenditures total (% of GDP) 4.7% 17.1% 5.5%
Healthcare expenditures per capita $75 (USD) $9403 (USD) $420 (USD)
Expenditures on healthcare Government: 30%
Private: 70%
Government: 48%
Private: 52%
Government: 56%
Private: 44%
Size of medical device market (USD) $3.5 billion (USD) $147.7 billion (USD) $8.7 billion (USD)
Number of hospital beds 0.7 per 1000 people 2.9 per 1000 people 3.8 per 1000 people
Age distribution 0-14 years: 28%
15-64 years: 66%
65 years and over: 6% (2015 est.)
0-14 years: 19%
15-64 years: 66%
65 years and over: 15% (2015 est.)
0-14 years: 17%
15-64 years: 73%
65 years and over: 10% (2015 est.)
Life expectancy at birth Male: 67 years
Female: 69 years
Male: 77 years
Female: 82 years
Male: 73 years
Female: 78 years
Currency Rupee US dollar ($) Renminbi yuan (¥)

Want to see how India compares to many other countries around the world? Download our free PDF Healthcare spending by country.