News

Karnataka top manufacturer of medical instruments & supplies

Karnataka

Karnataka ranked top with highest share of over 25 per cent in the total output worth about Rs.5,300 crore of medical and dental instruments and supplies sector generated across India, according to a recent Associated Chambers of Commerce and Industry of India (ASSOCHAM) report on titled ‘Indian Medical Devices Industry: The way ahead,’Karnataka

Though Karnataka had just about eight per cent share in terms of total number of 316 factories operating in medical and dental instruments and supplies sector across India, the state generated over Rs.1,360 crore in output of medical and dental instruments and supplies in India, noted the study.

“The state had fourth highest share of about eight per cent in total number of 338 factories in the sector of medical and dental instruments and supplies across India,” according to analysis of the state-wise distribution of manufacturers of medical and dental instruments and supplies in the country by Assocham based on data complied as part of Annual Survey of Industries 2011-12 conducted by the government of India.

Of the total number of 26 factories in medical and dental instruments and supplies segment in Karnataka, 25 such factories were under operation as of 2011-12.

The state reported the sixth highest share of just over eight per cent in terms of direct employment generated by medical and dental instrument factories operating throughout the country.

Over 18,100 people were directly employed in 316 factories at medical and dental instruments and supplies sector in India producing over Rs.5,300 crore highlighted the Assocham study.

Clocking a compounded annual growth rate (CAGR) of over 15 per cent, imports of medical devices and equipments in India is likely to cross $4 billion mark by 2018-19 from a level of about $2.3 billion as of 2013-14, projected the study prepared by the Assocham Economic Research Bureau (AERB).

Growth of medical goods’ exports to India is expected to continue because of a burgeoning middle class, growing medical tourism industry, swelling private sector healthcare investment, aging population and government commitment towards healthcare in rural areas, the study noted.

“Currently much of the medical devices in India are imported therefore going forward it is imperative for India to focus on development of domestic manufacturing capabilities,” said D S Rawat, secretary general of Assocham.

“Absence of a clear and consistent regulatory framework, lack of adequate incentives and funding for manufacturing devices, absence of medical devices’ specific legislation, dearth of trained workforce for maintenance of medical devices, insufficient co-ordination between diverse stakeholders is key constraints. Therefore there is need for infrastructure creation, he added.

Increased foreign direct investment (FDI) for cash-starved medical devices sector with collaborative arrangements to expand domestic manufacturing capacity, medical-technology clusters for indigenous manufacturing and up-skilling the workforce are imperative for the same, noted the Assocham study.

Don't be shellfish...Share on Facebook0Share on Google+0Share on LinkedIn3Share on StumbleUpon0Pin on Pinterest0Tweet about this on Twitter0
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Most Popular

To Top