Tuesday, March 11, 2014: India has inclined towards western lifestyle so strongly that prevalence of many such diseases have found a foothold in the country. A new Frost and Sullivan report estimates that the medical electronics market in India will grow to $11.7 billion in 2017, from $6.5 billion in 2013.
The above report compounds an annual growth rate of 16 per cent. The Indian medical electronics market is anticipated to grow at this rapid pace, due to growing middle-class incomes and increasing number of lifestyle diseases like obesity and diabetes.
According to MDD Online report, the Frost and Sullivan report found that growing population and higher middle-class incomes have grown awareness of the benefits of healthcare system, as some of the factors that have led to the market growth. The Indian government openings in rural areas to better medical equipment, is further found to be encouraging the medical electronics industry.
The report quoted, the Indian “Drugs and Cosmetics (Amendment) Bill, 2013 is now considering recognising medical devices as separate from pharmaceutical products in the regulatory structure.” Niju V, the director of Automation & Electronics Practices at Frost and Sullivan, said in news release, “Focused policy on medical devices factoring in all industry stakeholders including technology developers, manufacturers, healthcare providers, insurance providers, and patient groups can give a big boost to the sector.”
“Five aspects including miniaturization through System on Chip (SoC) designs, wireless integrated circuits, efficient power management, intelligent sensors, and connected IT infrastructure will dominate future technology landscape of the Indian medical electronics industry,” concluded Niju V on what devices will serve India best.
