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Unformatted text preview: sociations and players, the market is growing and
India is becoming a hub of manufacturing high-end medical devices. India is ranked 4th largest in
medical equipment market after Japan, China and South Korea.
Medical devices play a crucial role in diagnosis,
prevention, monitoring, treatment of diseases and
improving quality of life for people suffering from
The Medical Devices Market is worth Rs.5 billion Chart3: Market Segments within Medical Devices Medical Tourism Market : US$ 2.2 billion by 2012 Growth Rate
Drivers & Challenges 25% per annum (Source: ASSOCHAM)
Drivers: Challenges: Cost advantages To attract other countries to India for High success rates in treatment in India treatment Highest number of qualified doctors Trends Private sector hospitals foraying into medical tourism
Government offering Medical Visas Medical Insurance Market : Current
Projected US $ 1.45 billion in 2008-09 (Source :IRDA)
US$ 3.8 billion by 2012 Growth Rate
Drivers & Challenges 50% per annum
Young consumer segment with
increasing disposable income. Challenges:
Limited influence over healthcare delivery
network Increasing cost of treatment Low levels of awareness
Low per capita spends in insurance Trends TPA arrangements for ‘cashless hospitalisation facility
Alliances with foreign players 8 Present Regulatory and Institutional frameworks for various market segments Since 1980, United States Agency for International Development and World Health Organization
has played a major role in spreading the wave of quality in healthcare. The accreditation of health
services is done by Joint Commission on Accreditation of Health Care Organizations
(JCAHO), an independent not-for-profit organization whose primary purpose is to provide
voluntary accreditation by issuing JCI (Joint Commission International) Accreditation Standards in
The International Society for Quality in Healthcare (ISQua) is the apex body providing
international programs to assess, survey and accredit the agencies involved in Healthcare
Accreditation/External Evaluation/Standards Setting to assure quality benchmarks are met and
Many countries all over the world have...
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This document was uploaded on 01/14/2014.
- Winter '14