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Life Sciences And Medical Devices Sector In
India: Highlights
(Sector Highlights By Frost And Sullivan Prepared For
Panel Discussion On “Right Opportunities And Best Practices In BRIC Markets”)
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Even as the
Government attracts FDI in healthcare, red tape and bureaucratic hurdles makes
investors tread with caution
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Per capita spending
in healthcare among the least compared to other BRIC nations
Unorganized Sector
and Retail Take the Top Spots for Growth Potential
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Massive uptake of
medical devices and consumables as Tier 2 & 3 cities improve hospital
infrastructure and innovative delivery models are put in place
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Impetus on customized
/ localized medical technology products
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Specialized pharma
products at low cost
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Private equity
investment in healthcare delivery, which is boosted by private health insurance
adoption and hence service utilization
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In the diagnostic
services business, 80% of provision is in the unorganized sector which
represents a huge opportunity
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Similarly 90% of
retail Pharma is unorganized which is a huge opportunity for organised players
Healthcare Divide and Unequal Distribution of Institutions
Supporting Service Delivery
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Private sector
provides 70 - 75% of total healthcare in the country, rest is provided by
Government
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Urban rural divide is
high with most private healthcare projects being carried out only in tier 1
cities and metros
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Inadequate and
inconsistent Government funding, inadequate infrastructure support from
Government
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Lack of adoption of
quality standards. Hospitals in tier 2 & 3 cities are not focused on healthcare
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Standards and quality
care
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Lack of distinct
status for the medical devices industry along with lack of quality standards
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Compulsory license by
government for low cost pharma products to reduce the cost of treatment
Global Players with a Local Approach
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Healthcare and
Consumer Goods Supplier– able to reach masses by way of community programs,
health and hygiene campaign and able to reach bottom of pyramid and created huge
brand loyalty
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Leading Skin and
Wound Care Manufacturer – quality product, innovation is the key message,
training and education way of market building exercise created huge brand
loyalty amongst healthcare providers
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International Pharma
and Diagnostics Supplier – Oncology drugs, strong brand reliability amongst
doctors and hospitals by way of market building exercise, reliable products,
quick service and strong distribution network
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