Medical Technology

While the Indian healthcare sector has grown at a healthy double digit rate, challenges in access to quality and affordable healthcare persist in large parts of the country. With less than 1 physcian per 1000 population, India is well behind its peer countries. It needs an additional 3.6 million hospital beds to reach the recommended capacity. Only about 27% of India’s population is covered around any form of health insurance and the out of pocket expenditure on health is 62.4% in India as compared to the world average of 18.2%.

The medical technology industry plays a crucial role throughout the healthcare lifecycle and has been instrumental in transforming healthcare ecosystems across the world. For India too, the MedTech industry offers the potential to address the healthcare issues by using a mix of existing as well as cutting-edge technologies. CII and Deloitte have partnered to undertake a study to map the role of medical technology industry in India’s healthcare journey.