Impact of Economic Slowdown on the Biomedical & Healthcare
The dramatic changes in rupee value affect the billion dollar medical equipment industry. While it proves beneficiary to some it is a bane to many. Let us find out its impact on the current scenario.
The healthcare market in India is estimated to be worth $ 40 billion with the medical equipment industry contributing $ 2.5 billion that is 6 per cent of the total. While the healthcare sector grows at 11-12 per cent annually the medical equipment market is growing at 15 per cent annually. In 2011,India was the forth largest market for medical equipment and is expected to grow at 12-16 per cent according to a report by Pacific Bridge Medical.