Fueled in part by increased demand as a result of the COVID-19 pandemic, the market for medical devices in India is expected to ramp up over the next four years at a rapid clip, according to a report from data analytics firm Fitch Solutions.
The diagnostic imaging industry is projected to grow at a 2020-2025 compound annual growth rate (CAGR) of more than 10%, bolstered throughout 2021 by pandemic-related demand, and then encouraged further in its growth by advances in technologies.
Also expected to experience strong growth through 2025 are the broad set of medical devices used for patient care, including therapeutic apparatus in high demand due to the pandemic. And devices from dental products to prosthetics are also expected to be in high demand.