Indian medical electronics industry valued at Rs. 3,850 crores: ISA

BANGALORE, INDIA: ISA has released a sector report on the opportunities in the Indian medical electronics field, titled: “Current status and potential for medical electronics in India”, 2010.The report was released by Dr. Devi Shetty, CMD of Narayana Hrudayalaya. Dr. Bobby Mitra, ISA chairman, Poornima Shenoy, ISA president and Vivek Sharma, convener of the ISA Medical Electronics Segment were also present.

Key findings:
* Medical electronics is valued at Rs. 3,850 crores of the Indian overall healthcare market of Rs. 300,000 crores.
* The Indian medical electronics market growth is taking place due to some key features, which are unique to this country:
- Changing demographics and age profile which is prone to spend more on healthcare.
- Rise of lifestyle diseases and the need for their diagnosis.
- The need to fill the gap in healthcare infrastructure through public-private-partnership.
- Growth in medical tourism to address international needs.
- Entry of corporate into the healthcare arena.
- Increase in healthcare spend due to increase in healthcare insurance.
- Usage of semiconductors is critical from power supply to display in medical equipment. This includes medical imaging, patient monitoring systems, digital hearing aids and infusion pumps, to name a few.

Dr. Vidya Mulky, Head – Research at ISA, said: “By the end of 2015, the medical equipment electronics market is estimated to grow at a CAGR of 17 percent to reach around $2 billion from $0.8 billion in 2009. This is a powerful tool to address the country’s needs across various segments of society.”

Vivek Sharma, Regional VP- Greater China and South Asia- India Operations, ST Microelectronics and ISA convener, Medical Electronics Segment, added: “Estimated at $63 billion, India’s healthcare expenditure represents about 1-1.5 percent of the total worldwide healthcare bill.

"With approximately 17 percent of the world’s population living here, there is a huge opportunity to improve peoples’ lives and grow businesses. Medical electronics is a critical enabler for this industry. With the arrival of nanotechnology, telemedicine and innovative semiconductor devices, the industry is well poised to help India leapfrog onto a new level of quality healthcare by driving the dimensions of Affordability and Accessibility.”