Pandemic created supply-demand gap
The Indian medical market is estimated to reach Rs.1,674.63 billion by 2025, expanding at a compound annual growth rate (CAGR) of ~22.75% during the 2021-25 forecast period, said a report by ResearchAndMarkets.
The Covid-19 pandemic has put an enormous burden on the market by creating a supply-demand gap. While the demand for personal protective equipment rose steeply, the supply side was massively constrained due to lockdown measures, said the report “Medical Technology Market in India 2021” released on 6 May 2021.
The revenue fell sharply in the first quarter of FY 2021 due to a drop in sales volume for Non-COVID-19 items. The players adopted various strategies to boost production capacities, collect payment from creditors, and address the changing demand to maintain business.
“Medical Technology Market in India 2021” Market
Major players in the market include Opto Circuits Limited, Philips India Limited, Siemens Limited, TTK Healthcare Limited, and Appasamy Associates. #market #economy #manufacturing #investment /fiinews.com
