The medical equipments and supplies industry is in direct correlation with the rise of healthcare. As hospitals increase their scope of activities, the need for quality and cost competitive equipment and supplies in the country will increase. This is expected to encourage private players to service domestic demand. However, till regulatory guidance for the segment is not finalized and implemented, the growth of the industry is expected to be moderate, though beating some prior industry estimates. The Indian Medical Device industry is currently valued at around USD 3.5 billion and is expected to grow at a CAGR of 15% and touch the USD 5 billion mark in coming years.
Medical Tourism has seen enhanced interest from both the government and private sector. With increasing number of medical tourists all around the world, and a significant portion coming to India for treatments, the medical tourism industry is poised for growth. However, medical tourism is highly dependent upon the regulations at the home country of the tourist as well as the economic conditions. Considering the above, the medical tourism will still make an impact on the healthcare services market of India.
The diagnostic and pathology industry boosted by catering to rising medical needs of the country and gaining momentum through growing acceptance of preventive cures will inch towards a more mature market setup over the years. The diagnostic and pathology services industry is expected to continue its consolidation. With increasing investor interest, this sector is expected to touch USD 2.5 billion.