The Indian medical devices industry has an opportunity to leapfrog innovation combining physical devices and integrating digital frameworks for long term innovation
The medical device industry market is very dynamic and the key drivers impacting this sector are healthcare expenditure, technological development, aging population, and chronic diseases. Further emerging trends that impact the medical device industry include the changing medical technology landscape, software as a differentiator in medical devices, as well as design and manufacturing of patient portable or smaller devices. In India, medical devices is now considered to play a key role in the delivery of quality health care to the masses. The launch of MDR 2017 was a significant milestone in creating a robust platform. The awareness around the need to have a robust medical devices ecosystem in the country is gaining traction resulting in higher growth rates for India as compared to the global industry.