India Pavilion at HOSPITALAR 2018 showcases strength in healthcare, medical devices & equipment sector
NEW DELHI: India is participating in HOSPITALAR 2018 in São Paulo, Brazil for the third time, with 47 Indian companies displaying their products ranging from hospital disposable, hospital equipment manufacturing to general medical devices. The third edition of ‘India Pavilion’ is being organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Ministry of Commerce & Industry, Government of India.
Ashok Das, Indian Ambassador to Brazil inaugurated the India Pavilion at HOSPITALAR 2018 which got underway on Tuesday in São Paulo, Brazil. The India Pavilion will showcase India’s strength in the healthcare and medical devices & equipment sector.
Inaugurating the India pavilion Ashok Das said, “As we celebrate 70 years of India-Brazil diplomatic relations, it is fitting that our governments and businesses come together with renewed vigour, to take our strategic partnership forward. In this regard, I want to make a particular mention of the healthcare sector of India, which has gained global recognition today. India’s advantage lies in its cost competitiveness compared to its peers in Asia and Western countries, particularly in healthcare services and hospital equipment. I am sure that we can collaborate more in this sector”.
The participation of Indian companies at ‘India Pavilion’ is dedicated to showcase to the world the latest products and innovations, new solutions and services for hospitals, laboratories, drugstores, private practitioners and clinics. This is further leveraged by the Indian Embassy in Brazil and Consulate General of India, São Paulo.
The major highlights include various B2B sessions and an exclusive exhibition showcasing India’s potential in the field of medical equipment and manufacturing technology. These include medical devices used in various specializations like Infusion and Transfusion Therapy, Dialysis, Gastroenterology, Urology, Anesthesia, Surgery, General medical disposables, Catheters and Tubes, Dental, Endoscopy, Laparoscopy, Ophthalmology, Gynaecology, Nephrology and Radiology.
HOSPITALAR is a platform for business generation and technological growth in the healthcare industry and brings buyers and suppliers together.
Currently, India is recognized in the top 20 global medical devices market and is the 4th largest medical devices market in Asia after Japan, China and South Korea. It is poised to grow to USD 25 billion by 2025, growing at 15% CAGR in last few years as per industry estimates. Two key factors that can be attributed to the growth of this sector includes transitioning up the value chain into the medium technology segment to target the market in the country and sales to newer export markets.
Multiple steps have been taken by the Government to boost the Indian medical device manufacturing in the country. In the same process it has allowed 100 per cent automatic FDI in the sector, rolled back the import duty concessions for 67 medical devices and has also setup three Medical Tech parks (in process in Maharashtra, Andhra Pradesh and Gujarat).