India's Implant Sector: A Domestic Surge with Global Aspirations
India's orthopaedic and cardiac implant sector is projected to reach USD 4.5-5 billion by FY28, bolstered by domestic demand and rising exports. The sector benefits from increased healthcare awareness and infrastructure. Domestic manufacturers are gaining ground against foreign firms, attracting investments from major pharmaceutical companies.
- Country:
- India
The Indian orthopaedic and cardiac implant industry is on track to hit USD 4.5-5 billion by 2027-28, spurred by robust local demand and export growth, a report by CareEdge Ratings revealed. Currently valued at USD 2.4-2.7 billion, the sector is evolving due to rising per capita income, awareness, and infrastructural advancements.
Domestic manufacturers are outpacing foreign multinationals with their competitive pricing and improved safety records. Sales of Indian-made implants have surged with a CAGR of 28%, outstripping the 12% growth of foreign companies, thanks to increased participation in government insurance schemes.
Moreover, the promising outlook of the sector has led to interest from major pharmaceutical players like Zydus Lifesciences and Alkem Laboratories, who are investing in implant manufacturing. Despite the optimism, stakeholders must navigate challenges related to trade uncertainties and price regulations.
(With inputs from agencies.)
- READ MORE ON:
- India
- orthopaedic
- cardiac
- implants
- domestic
- demand
- exports
- healthcare
- growth
- manufacturers
Google News