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Medical Device and
Pharmaceuticals

 

  • Medical Device: India imports around 80% of medical devices & equipment required in the country. Diagnostics imaging, patient aids, orthopaedics and prosthetics and dental products are high import dependent categories.
  • Government funding boost for medical device manufacturing locally: The Central Government has recently announced schemes to promote domestic manufacturing by financing common infrastructure facilities for 4 Medical Device Parks and a Production Linked Incentive (PLI) Scheme for promoting domestic manufacturing of medical devices in Cancer care/Radiotherapy medical devices,Radiology & Imaging medical devices, Nuclear Imaging Devices, Anesthetics & Cardio-Respiratory medical devices etc.
  • Pharmaceutical Contract Manufacturing: Opportunities to outsource manufacturing operations to India as it has large WHO-GMP approved manufacturing facilities, scientific talent pool and low cost labour advantage. The contract manufacturing industry is estimated at USD9.8 bn in 2019 and is forecasted to reach USD16.7 bn in 2024 with a CAGR of 12%.
  • Pharmaceutical Contract Research: India is rapidly emerging as a preferred destination for contract research due to cost efficiency, availability of skilled professionals, heterogenous patient pools and ease in clinical trial rules. The contract research industry is estimated at USD561 mn in 2019 and is forecasted to reach USD767 mn in 2024 with a CAGR of 6%.
  • Laboratory Automation: Indian Laboratory automation market is estimated at USD58 mn in 2019 and is expected to reach USD122 mn by 2026, registering a CAGR of 11%. Clinical diagnostics and drug discovery are key user application areas in India whereas genomic solutions and proteomics solutions segment are high growth areas.
  • Laboratory Equipment and Disposable: Indian Laboratory equipment market is estimated at USD169 mn in 2019 and is expected to reach USD275 mn in 2025, registering a CAGR of 8%. The Laboratory disposable market is estimated at USD278 mn in 2019 and is expected to reach USD474 mn in 2025, registering a CAGR of around 8%.
  • Digital Transformation Solutions: Pharmaceutical companies in India are keen to adopt digital transformations. Solutions around better patient connect, higher regulatory compliance, supply chain imporvement, manufacturing efficiency improvement and quality adherence are the key focus areas.
  • Pharmaceutical Compliance Solutions: Stringent regualtory scrutiny by global regulators have increased the focus of Indian companies towards compliance. Pharmaceutical companies are keen to adopt solutions around validation, risk/gap assesement, GMP compliance etc.
  • For more information, please contact: Salil Dadhich, Commercial Head - Healthcare and Life Sciences at saldad@um.dk

The Trade Council can be contacted Monday-Thursday between 9:00-16:30 and Friday between 9:00-16:00.

 

Contact details 

 

Meetings only by prior arrangement.