The Indian economy is growing at a modest rate due to huge advancement in various domains. Healthcare domain is growing significantly due to huge demand in national and international level. Low rate of surgeries and quality healthcare are some of the major drivers for the market. Also,the well-developed hospital chains provide quality and affordable surgeries to the foreign patients.
The healthcare spending of India is modestly growing owing to increased prevalence of diseases.India has high incidence and prevalence rate of CVD, CHD, stroke and other heart diseases. As per Institute of Health Metrics and Evaluation, Ischemic heart disease is the largest cause of death in Indians. It had showed a growth between theintervals of 53% from 2005 to 2015.In the time interval of 2005-2016 high blood pressure has grown as a major problem in the country with a growth rate of 34%. As the nation is growing as a medical tourism hub, the major hospitals involved in ICD implant in India are Fortis Hospital, Sevenhills Hospital, Medanta and others.Thecost of ICD implant varies from $3000 to $20,000 from hospital to hospital.
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Major market players such asGE Healthcare, Medtronic, Philips and other key players have complied with government policies to establish their businesses in India. India has favorable regulations for companies who want to set their business in India. However, the companies have to comply with the regulations for medical device and drugs for patient’s safety and security. The Indian government has favorable policies to attract major players to invest in the Indian market. The Drugs and Cosmetics Amendment Bill will revolutionize the laws governing medical devices. The new law would differentiate drugs and medical devices as different entities. Further, Government of India Directory of Health and Family Welfare, Central Drug Standard Control Organization (CDSCO), Ministry of Health and Family Welfare (MHFW), and Indian Council of Medical Research (ICMR) are some of the Indian government regulations and policies regarding the healthcare sector in the country.
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India Defibrillators Market-Segmentation
ByType
• Implantable Cardioverter Defibrillators
• External Cardioverter Defibrillators
By End-Users
• Hospitals
• Ambulatory Services and Others
Company Profiles
• Abbott Laboratories, Inc.
• Biotronik SE & Co. KG
• Cintas Corp.
• Defibtech, LLC
• General Electric Co.
• Koninklijke Philips N.V.
• LivaNova PLC
• Medtronic PLC
• Mindray Medical International Co. Ltd.
• Nihon Kohden Corp.
• Stryker Corp.
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