EMERGING OPPORTUNITY FOR MEDICAL EQUIPMENT MANUFACTURING IN INDIA
India has made expeditious progress in the last few years in the healthcare industry but significantly lags behind other nations in the availability and quality of equitable medical care and services for the citizens. With its large population and growing economy, it demands better health care services, thereby initiating an extensive opportunity in the field of manufacturing medical equipment. The COVID 19 also brought demand for masks, PPE kits, glouse, sanitizers, and other medical care products. We all witnessed how the rate of these products hiked rapidly with the demand.
The expense of healthcare in India is much lower compared to other developed countries. This is the one reason which attracts foreigners to get the treatment done in India. The current demand and supply-side dynamics provide a vast opportunity for Indian medical equipment manufacturers.
At present, India imports almost 80% of sophisticated medical devices and equipment from other countries. India is one of the top 20 countries in the world, as a market for medical equipment worth nearly 11 billion US dollars. The central govt with a vision to provide economical and proper health care to all launched several plans, which gives hope of raising the market worth to 50 billion US dollars in the upcoming 5 years.
Niti Ayog has started to detect methods to encourage manufacturers in India to concentrate on the manufacture of medical equipment. The Government has also allowed 100 percent foreign direct investments (FDI) in companies manufacturing medical devices through the automatic route.
The manufacturing of medical devices comprises several machines used in the medical field like MRI machines, machines to carry out dialysis, devices like pacemakers, needles, syringes, masks, PPE kits, knee implants, braces used in dental care, and many more.
We at Threeseas Meditour provide the best quality medical products like PPE kits, Facemasks, Digital thermometers, and N95 masks at competitive rates.
Visit our website: https://meditour.in/