From Left: Vivek Sharma, Convener of the ISA Medical Electronics Segment; Dr. Devi Shetty of Narayana Hrudayalaya, Bangalore; Dr. Bobby Mitra, ISA Chairmanand Poornima Shenoy,ISA President at the launch of the ISA Medical Electronics report, December 2.
Medical Electronics in India, a Rs 38 billion opportunity -- ISA
Changing demographics, rising lifestyle diseases, growth in medical tourism, entry of corporates into healthcare and increase in healthcare insurance all contribute to create a Rs 38.5 billion oportunity for medical electronics in India, finds a report commissioned by the Indian Semiconductor Association. The overall healthcare market in the country is worth Rs 3000 billion ( $ 63 b). The usage of semiconductors is critical across the industry -- from power supply to display in medical equipment. This includes medical imaging, patient monitoring systems, digital hearing aids and infusion pumps, adds the report entitled “Current status and potential for medical electronics in India”, 2010", which was released, December 2 by Dr. Devi Shetty of Narayana Hridayalaya,Bangalore. Dr. Vidya Mulky, Head – Research at ISA said “By the end of 2015, the medical equipment electronics market is estimated to grow at a CAGR of 17% to reach around $ 2 Billion from $ 0.8 Billion in 2009. This is a powerful tool to address the country’s needs across various segments of society”. Vivek Sharma, Regional VP- Greater China & S. Asia- India Operations, ST Microelectronics and ISA Convener, Medical Electronics Segment added “Estimated at $ 63 billion, India’s healthcare expenditure represents about 1 to 1.5% of the total worldwide healthcare bill. With approximately 17% of the world’s population living here, there is a huge opportunity to improve peoples’ lives and grow businesses. Medical electronics is a critical enabler for this industry. With the arrival of nanotechnology, telemedicine and innovative semiconductor devices, the industry is well poised to help India leapfrog onto a new level of quality healthcare by driving the dimensions of Affordability and Accessibility”. Dec 3 2010