Growing med tech industry: Increased burden of diseases, public spending and penetration of health insurance
Indian med tech industry may grow to USD 14 bn: Study
Source by: Economic Times November 29, 2010
NEW DELHI: The size of the Indian medical technology industry may touch USD 14 billion (Rs 64,036 crore) by 2020 on account of higher private investments in the sector and strong economic growth, a study has said.
According to a report jointly done by FICCI and PwC, the market size of the sector in 2008 stood at USD 2.7 billion (Rs 12,350 crore).
"Strong economic growth, increased burden of diseases, higher public spending and private investments in healthcare and increased penetration of health insurance are the key drivers for the growth in the sector," the study said.
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