As per a study, it has been declared that Karnataka has the highest share in the total output of medical and dental instruments and supplies sector that is generated all across India. The share is over 25 per cent in the total output of around 5300 crore.
It has been noted as per the study titled ‘Indian Medical Devices Industry: The way ahead, that was conducted by ASSOCHAM, “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 highest amount of over Rs 1,360 crore in output of medical and dental instruments and supplies sector across states in India.”
The study said, “Karnataka 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.”
The study has been completed on the basis of state-wise distribution of manufacturers of medical and dental instruments and supplies in the country. The list has been compiled by the central government as a part of Annual Survey of Industries 2011-12. The survey also said that, of 26 factories in medical and dental instruments and supplies segment in Karnataka, 25 were under operation as of 2011-12.
As per the analysis, Karnataka had the sixth highest share of just over eight per cent in terms of direct employment generated by medical and dental instrument factories that operate throughout the country.
According to 2011-12 survey of ASI, around 18,100 people were directly employed in 316 factories under operation in the sector producing a total output worth over Rs 5,300 crore.
The study also projected that the annual growth rate (CAGR) of imports of medical devices and equipment in India will increase over 15 per cent as it will cross USD 4 billion mark by 2018-19 from a level of about USD 2.3 billion in 2013-14.
The growth of medical goods’ exports to India is expected to increase because of the growing medical tourism industry, growing middle class, increase in private sector healthcare investment, aging population and government commitment to offer best health care services to the rural population.