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India's import of medical devices increased by 16.8 %, export by 25.7 % during 2012-16

Our Bureau, Mumbai
Friday, March 17, 2017, 08:00 Hrs  [IST]

Between FY12 to FY16, the import of medical devices into India has increased by 16.8 per cent, whereas export increased by 25.7 per cent, as per the key findings of a government led study in collaboration with Andhra Pradesh MedTech Zone (AMTZ) and World Health Organisation (WHO).

India is one of the top 20 global medical device markets and the 4th largest medical device market in Asia.

The import of medical devices has grown from USD 2.46 billion ( Rs.15,990 crore) in FY12 to USD 2.87 billion ( Rs.18,655 crore) in FY16. The export of medical devices has grown from USD 0.78 billion ( Rs.5,070 crore) in FY12 to USD 0.98 billion ( Rs.6,370 crore) in FY16.


Diagnostic imaging (e.g. CT scan, X-Ray, MRI, USG, X ray-tubes etc.), IV Diagnostic (lab equipment and reagents, etc.) and Other Medical Device (ECG, opthal equipment, heart lung machine, etc.) form 70% of total import in India in FY16.

However it is estimated that import trade will fall with increasing number of international and Indian manufacturers setting up medical device manufacturing in India.

Diagnostic imaging, consumables and other medical devices form 86 per cent of total export trade in India in FY1613. Amongst the exporters’ portfolio, USA was the chief destination for export and contributes close to 15 per cent of the export trade. Singapore, Germany and China were the other leading export destinations with shares of 7.0 per cent, 6.7 per cent and 6.4 per cent respectively.

The European Union (including Germany) cumulatively constitutes of 21.7 per cent of the total export trade13. USA, Germany, China, Japan, and Singapore constitute the five largest exporters of high technology medical equipment to India.

In FY 2015 imports alone from these five countries accounted for approximately 65 per cent of total import of high technology medical equipment while USA, remained the largest exporter accounting for 28.1 per cent.

Diagnostic imaging medical device import trade has grown by 19% from USD 636 million ( Rs.4,134 crore) in FY12 to USD 757 million ( Rs.4,921 crore) in FY 16. IV Diagnostic medical device import trade has grown by 43.2% from USD 225 million ( Rs.1,463 crore) in FY12 to USD 322 million ( Rs.2,093 crore) in FY 16. Other Medical Device (e.g. ECG, opthal equipment, heart lung machine, etc.) has grown by 9.6% from USD 878 million ( Rs.5,707 crore) in FY12 to USD 964 million ( Rs.6,266 crore) in FY 16.

Diagnostic imaging medical device export trade has grown by 27.2 per cent from USD 210 million ( Rs.1,365 crore) in FY12 to USD 267 million ( Rs.1,736 crore) in FY16. Medical Consumables export trade has grown by 26.1 per cent from USD 228 million ( Rs.1,482 crore) in FY12 to USD 288 million ( Rs.1,872 crore) in FY16. IV Diagnostic devices export trade has grown by 58.7 per cent from USD 24 million ( Rs.156 crore) in FY12 to USD 39 million ( Rs.254 crore) in FY16.

While technological advancement and expertise that the global market leaders offered has proved to be an advantage, India’s medical device sector is dominated by multi-national companies, which is evident from the fact that about 78% of the sales are generated by imported medical devices.

 

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