The Indian medical device market will grow to US$ 8.16 billion (Rs.53,053 crore) in 2020 at CAGR of 16 per cent, as per the key findings of a government led study in collaboration with World Health Organisation (WHO) and Andhra Pradesh MedTech Zone (AMTZ).
India is one of the top 20 global medical device markets and the 4th largest medical device market in Asia.The report further reveals that diagnostic imaging is the largest segment within Indian medical device market in 2015. It constitutes US$ 1.18 billion (Rs.7,650 crore) in 2015 and will grow to US$ 2.47 billion (Rs.15,561 crore) in 2020. The Indian medical device market has grown from US$ 2.02 billion (Rs.13,130 crore) in 2009 to US$ 3.9 billion (Rs.25,259 crore) in 2015 at CAGR of 15.8 per cent. This accounts for approximately 1.7 per cent of the global medical device market in 2015. The Indian medical device market contributes to 4 per cent of the Indian healthcare market which is pegged at US$ 96.7 billion (Rs.6.29 lakh crore), in 2015.
(Reference: http://www.pharmabiz.com/NewsDetails.aspx?aid=100551&sid=1)