The Indian Healthcare industry is rising year by year and has huge potential growth in the country. Innovation is also something that is heavily based on by the government. More investment from global players in India is also extremely keen to see, not only in manufacturing but also in research and development in the field. India’s med-tech industry is in its development phase, and there is tremendous room for growth in India in this sector. We already have more than 4,000 successful India-based health-tech startups. It is a demonstration of the spirit that we have here of creativity, innovation, and entrepreneurship, not to mention the innate potential that we have in our young population. A production-linked incentive (PLI) scheme has also been introduced by the government for medical devices, which has received a positive response.

The healthcare and diagnostics sector is rapidly growing, creating a big market in India for the manufacture of medical equipment and devices. On the brighter side, several manufacturing firms are now changing their emphasis from gaining market share to creating a market. They are discovering new products for consumer niches. In reality, if the regulatory environment changes, existing players would also engage in low-end devices as they will be able to compete on value and not just on price. Low-end (mostly domestic) players, on the other hand, understand the benefits of competing in the high-end market. 

The advent of technology makes healthcare affordable, available, and accessible to broader populations. The growth of India in the healthcare sector is driven by improved healthcare facilities, stable regulatory environments, increased government healthcare spending, the implementation of low-cost equipment, R&D units, information pools, and skilled labor. The healthcare and diagnostics sector is rapidly growing, creating a big market in India for the manufacture of medical equipment and devices. On the brighter side, several manufacturing firms are now changing their emphasis from gaining market share to creating a market. They are discovering new products for consumer niches. In reality, if the regulatory environment changes, existing players would also engage in low-end devices as they will be able to compete on value and not just on price. Low-end (mostly domestic) players, on the other hand, understand the benefits of competing in the high-end market.