The Medical Technology sector in India stands at over USD 4.9 billion and has grown at a CAGR of 17%. The sector is at a crucial juncture. On one hand is the need for integration of new technology with local manufacturing impetus and on the other hand there are pressures on pricing and rationalization of the supply chain for both local manufacturers and importers. For the sustained growth of this industry, the key role of the Government is to bring in supportive policy changes and a distinct regulatory pathway that will help unlock industry growth.With a per capita medical device consumption of only 3 USD, the Indian market is severely underpenetrated. Also, despite India consisting of one sixth of the world’s population, its domestic medical devices market represents only 1.7% of the global market.
A disproportionate percentage of current demand for medical devices emanates from the metropolitan cities due to shortage in the healthcare infrastructure in tier 2/3 areas. This indicates a significant untapped potential for medical devices in India, which if unleashed, can provide the required fillip to the Indian healthcare ecosystem.
Based on this background, the Confederation of Indian Industry (CII) had organized the 11th Medical Technology Conference, the annual flagship event of the sector on 28th September 2018 at Hotel Le Meridien, New Delhi. The Conference has become an annual all-stakeholder platform of repute for the Medical Technology Division in India, drawing participation from senior policymakers as well as the top echelons of the Healthcare Industry.