With policy backing and shifting global supply chains, India’s medtech industry is poised to emerge as a global manufacturing and innovation hub.
India’s medtech industry is undergoing a dramatic transformation, propelled by shifting global trade dynamics, rising income levels, breakthrough innovations, and a renewed push for localisation. Once seen merely as a sales destination for global medtech giants, India is now positioning itself as a serious contender to become a global hub for innovation, manufacturing, and healthcare research.
Driving this transformation is a confluence of factors: the cost competitiveness of Indian healthcare, a burgeoning middle class with growing health consciousness, the government’s production-linked incentive (PLI) scheme, and a policy push to develop a robust domestic medtech ecosystem. With rising domestic demand and a favourable business environment, India is attracting multinational players eager to tap into both its market and talent pool.
India has become an increasingly attractive destination for global healthcare consumers, offering high-quality medical care at a fraction of the cost in developed countries. This cost arbitrage, along with a deep pool of skilled professionals and robust tertiary care infrastructure, has made India a magnet for medical tourism.
Multinational corporations such as Siemens Healthineers and Philips are taking note. Siemens is investing Rs 91.9 crore in local manufacturing of advanced diagnostic imaging systems such as CT and MRI machines at its Bengaluru facility. Additionally, the company is building an integrated campus with a projected investment of Rs 1,910 crore. Philips, too, is doubling down on its ‘Make in India’ initiative, having invested around Rs 750 crore over recent years.
Source: policy circle
#healthcarestartupfunding #dseidehealthcarenetwork
India’s medtech industry is undergoing a dramatic transformation, propelled by shifting global trade dynamics, rising income levels, breakthrough innovations, and a renewed push for localisation. Once seen merely as a sales destination for global medtech giants, India is now positioning itself as a serious contender to become a global hub for innovation, manufacturing, and healthcare research.
Driving this transformation is a confluence of factors: the cost competitiveness of Indian healthcare, a burgeoning middle class with growing health consciousness, the government’s production-linked incentive (PLI) scheme, and a policy push to develop a robust domestic medtech ecosystem. With rising domestic demand and a favourable business environment, India is attracting multinational players eager to tap into both its market and talent pool.
India has become an increasingly attractive destination for global healthcare consumers, offering high-quality medical care at a fraction of the cost in developed countries. This cost arbitrage, along with a deep pool of skilled professionals and robust tertiary care infrastructure, has made India a magnet for medical tourism.
Multinational corporations such as Siemens Healthineers and Philips are taking note. Siemens is investing Rs 91.9 crore in local manufacturing of advanced diagnostic imaging systems such as CT and MRI machines at its Bengaluru facility. Additionally, the company is building an integrated campus with a projected investment of Rs 1,910 crore. Philips, too, is doubling down on its ‘Make in India’ initiative, having invested around Rs 750 crore over recent years.
Source: policy circle
#healthcarestartupfunding #dseidehealthcarenetwork
With policy backing and shifting global supply chains, India’s medtech industry is poised to emerge as a global manufacturing and innovation hub.
India’s medtech industry is undergoing a dramatic transformation, propelled by shifting global trade dynamics, rising income levels, breakthrough innovations, and a renewed push for localisation. Once seen merely as a sales destination for global medtech giants, India is now positioning itself as a serious contender to become a global hub for innovation, manufacturing, and healthcare research.
Driving this transformation is a confluence of factors: the cost competitiveness of Indian healthcare, a burgeoning middle class with growing health consciousness, the government’s production-linked incentive (PLI) scheme, and a policy push to develop a robust domestic medtech ecosystem. With rising domestic demand and a favourable business environment, India is attracting multinational players eager to tap into both its market and talent pool.
India has become an increasingly attractive destination for global healthcare consumers, offering high-quality medical care at a fraction of the cost in developed countries. This cost arbitrage, along with a deep pool of skilled professionals and robust tertiary care infrastructure, has made India a magnet for medical tourism.
Multinational corporations such as Siemens Healthineers and Philips are taking note. Siemens is investing Rs 91.9 crore in local manufacturing of advanced diagnostic imaging systems such as CT and MRI machines at its Bengaluru facility. Additionally, the company is building an integrated campus with a projected investment of Rs 1,910 crore. Philips, too, is doubling down on its ‘Make in India’ initiative, having invested around Rs 750 crore over recent years.
Source: policy circle
#healthcarestartupfunding #dseidehealthcarenetwork
