India's Medical Device Sector Expected to Reach $7 Billion by Next Year

The Indian medical device industry is currently valued at $4.4 billion. However, the US-India Business Council (USIBC) anticipates that the market will grow to $7 billion by 2016.
According to The Siasat Daily:

The US-India Business Council (USIBC) also stressed yesterday that there is a need for a separate regulatory framework for medical devices.
The business body that led a three-day Medical Device Trade Mission to New Delhi and Gandhinagar from July 21 said there are opportunities for collaboration to attract investment and talent to the sector.
The Indian medical device industry is currently valued at USD 4.4 billion, the fourth largest in Asia and the sector has the potential to grow to USD seven billion by 2016 with a growth rate of 10-15 per cent annually, it said.

 
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