Medical Devices Industry To Grow Beyond $50 Bn: CII-BCG Report
The Indian medical technology sector has
the potential to touch $50 billion by 2025 if it continues to grow at
10-12 per cent annually. Globally, the medical technology market is
expected to be $600 billion+ by 2025. India can capture 10 per cent of
that share by 2025 if provided with adequate support and policy
guidance, according to a CII and Boston Consulting Group (BCG) study.
Commerce Ministry Brings Export Of Medical Devices, Pharma Machinery
In a strategic move to address major
export related concerns of the medical device and pharma machinery
sector, the Government recently announced that EEPC INDIA formerly
Engineering Export Promotion Council will henceforth handle the export
related issues and promotional activities of the industry. It is
understood that the government took this decision after lot of
deliberation and suggestions from Pharmexcil who has been handling the
sector till recently and the stakeholders, simultaneously.