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We fast-track Your Market Entry Strategies for India
We fast-track Your Market Entry Strategies for India
India Entry Strategy for Healthcare Companies
Entry into the Indian medical device market requires a strategic approach, patience, and a deep understanding of the local ecosystem. Collaboration with local experts and stakeholders can significantly enhance your chances of success in this rapidly growing market. Developing an entry strategy for international medical device companies looking to enter the Indian market involves careful planning and consideration of various factors like Market Research and Analysis, Regulatory Compliance, Risk Assessment, Sales Channels, KOL and Key Account connect….etc.
Reasons to invest in India
- Economy growing at 7-8%.
- Increased Private and Public Spending – FDI in Insurance spurring growth and investments
- Healthcare sector growing at CAGR of 15%, med devices at forefront. 77% of all med devices are imported with highest import from USA (30%)
- Lifestyle diseases – Increased incidence and better diagnostics = Higher treatment rates. Diabetic capital with CV disease rates increasing
- Hospital and Infrastructure growth led by Tier II and Tier III cities.
- New government emphasis to cut red tape and boost global investor sentiment.
- Fought the currents for 20 years, it’s time to ride the wave.
- Competitors scaling up with India centric focus.
Plan It Today
India Entry Strategy for Medical Device Companies
Inda has been an amazing growth story for healthcare in general with lot of new initiatives in the recent past. India recently got a new MDR and the Central Government is taking lot of new initiatives including the Medical Device Parks (including one in the state of Andhra Pradesh and the second in Gujarat.
The medical device industry in India is currently estimated to be valued at USD 5.2 billion and is experiencing a growth rate of approximately 15.8% CAGR. As of the latest data available, India ranks among the top 20 global medical devices markets and is the fourth-largest in Asia, following Japan, China, and South Korea. Some industry estimates suggest that this sector is expected to expand significantly, potentially reaching USD 50 billion by the year 2025.
Simens, GE and Phillips. Medtronic and Stryker have established their strong presence in India and B.Braun has a manufacturing too in India
Some of the home grown Medical device companies are doing well not only in the domestic market but also in the international markets. Some of the Indian companies in this space are Meril, SMT,Translumina, Polymed, Romsons, to name a few.
Building Sound Foundation In India
We Not only strategize the growth plan but also execute the Go to Market Steps systematically
strategizing and execution
Market Research
Regulatory strategy
Channel Strategy
Recruitment of Key Employees
Establishing and expanding your business in India
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