The Medical electronics industry has witnessed a double digit growth in recent years and this growth trajectory is expected to continue due to the rising incidence of chronic diseases, increased urbanization and a growing elderly population and increased awareness about latest technology solutions to save augment life and rehabilitation. The influx of Medical Electronics technology has also reinforced the existing Healthcare infrastructure in various ways right from digitizing medical test, diagnostic and therapeutic procedures to enhancing the reach of Healthcare through Telemedicine and Health IT.
India Medical Electronics Expo 2016 which is being jointly organized by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers and Federation of Indian Chamber of Commerce & Industry from 7th-9th January, 2016 at Bangalore International Convention and Exhibition Centre, Bangalore will give a huge boost to this growing sector of Indian Economy and provide a platform to the Medical Electronics and Equipment Manufacturers to showcase their products and technology to the Indian and International Business Visitors from the Healthcare sector.
The Indian Medical Electronics industry is currently valued at around 1 billion and has been growing at an average rate of 17% for past couple of years. It is strongly believed that growth will outperform the pace, resulting in the Indian Medical Electronics market reaching close to USD ~6.5 billion by the year 2020.
The Show
Medical Equipment Sector in India
The Indian Medical Electronics industry is currently valued at around USD 1 billion and has been growing at an average rate of 17% for past couple of years. It is strongly believed that growth will outperform the pace, resulting in the Indian Medical Electronics market reaching close to USD ~6.5 billion by the year 2020.
There are varied understandings of what constitute “Medical Electronics”. Medical electronics encompasses a wide range of healthcare products (personal medical devices, bio-physical monitoring, life support systems, implants, bionics in rehabilitation of physically challenged, embedded technology in neuro sciences (ASIC and Stroke Recovery) and cardiac sciences and lately telemedicine) which require some external energy source to be operational. In this section the current industry size, the major market segments and product categories are highlighted.
Market Size
Various sources expect the Medical Electronics industry to reach around USD 2+ Billion in 2015 growing at a CAGR of 17% for the last five years from a size of USD 850+ Million in 2009. It is believed that the growth will not only sustain but increase beyond 17%. The hypothesis is based on positive market and non-market factors as listed below:
- Market Factors: Growing population, ageing, income base and asscoiated disposable income, increasing socio-economic inclusion of rural and deprived in mainstream economy, hightened manufacturing innovation to create customized products to meet the needs of all income segments, changing disease prevalence pattern (e.g. early onset of diabetes and heart diseases) and growing awareness among the middle class to focus on early detection and disease prevention.
- Non-Market Factors: Development of infrastructure, favorable regulations, FDI inflow, outsourcing of manufacturing and R&D activities to India, government, initiatives to improve healthcare access through, insurance schemes such as RSBY (Rashtriya Swasthya Bima Yojana), Aarogyasri, etc.
The Organisers
Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers
The Department of Pharmaceuticals was created on the 1st of July in the year 2008 in the Ministry of Chemicals & Fertilizers so as to provide greater focus for the growth of the high potential Pharmaceuticals industry.
Shri Ananth Kumar is the Hon'ble Minister of Chemical and Fertilizers and Shri Hansraj Gangaram Ahir is the Hon'ble Minister of State for Chemicals and Fertilizers (C & F).
The Ministry has been given the following mandate for catalyzing the growth of the pharma industry in the country
- Drugs and Pharmaceuticals sector development
- Promotion and co-ordination of basic, applied and other research in areas related to the Pharmaceuticals sector.
- Development of infrastructure, manpower and skills for the Pharmaceuticals sector and management of related information.
- Education and training including high end research and grant of fellowships in India and abroad, exchange of information and technical guidance on all matters relating to pharmaceutical sector.
- Promotion of public - private - partnership in pharmaceutical related areas.
- International cooperation in pharmaceutical research, including work related to international conferences in related areas in India and abroad.
- Technical support for dealing with national hazards in pharmaceutical sector.
- All matters relating to National Pharmaceuticals Pricing Authority including related functions of price control/monitoring.
- All matters relating to National Institutes for Pharmacy Education and Research.
- Supporting growth of Central Phama Public Sector Undertakings - BCPL,HAL,IDPL, KAPL and RDPL.
Based on this mandate, the Department has set for itself the following Vision:
Vision of the Department
“To make India the Largest Global Provider of Quality Medicines at Reasonable Prices”.
Federation Of Indian Chambers Of Commerce And Industry (FICCI)
Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.
A non-government, not-for-profit organisation, FICCI is the voice of India’s business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies.
FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian industry, policy makers and the international business community.
Show Facts
- One of the focused exhibitions on Medical Devices and Medical Electronics Manufacturing in India
- Country Pavilions across the globe
- Concurrent Conference on Medical Electronics & Devices sector
- International Delegation from various countries
- Buyer Seller Meet ( Procurements specialist from Hospitals and healthcare organisation), Networking Opportunities
- Excellent Facilities of Business center, Lounge, Exhibitor's restaurant, Information desk, travel & transport support, Business Information center