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India's MedTech sector targets rapid growth, aiming to triple its global market share with government support.
India's medical technology (MedTech) sector is forecast to grow three times faster than the global market, according to a report by CII and Boston Consulting Group.
Currently valued at $16 billion, or 2% of the global $680 billion market, India aims to increase its share to 10-12% by boosting local manufacturing and reducing import dependency.
The government supports this through financial incentives like the PLI scheme and tax benefits, although challenges remain, including shortages of skilled workers and under-utilization of MedTech parks.
The report suggests nine strategic initiatives to address these issues and drive growth.
El sector MedTech de la India apunta a un rápido crecimiento, con el objetivo de triplicar su cuota de mercado global con el apoyo del gobierno.