Delayed cancer screening and diagnosis due to pandemic related restrictions and re-prioritizations have led to a pent-up demand in Next–Gen Cancer Care Technologies: Ken Research
India Oncology Devices and Solutions Market Ecosystem
India Next-Generation Oncology Devices and Solutions Market has entered its growing phase, being driven by Increasing Prevalence of Oncology Population, Emerging Technologies in Oncology Testing and Treatment and Increasing Disease Awareness. The Oncology Devices market is moderately consolidated with major international brands dominating the market. The solutions (testing) market is moderately fragmented with presence of 6000+ NABL-accredited labs, around 70 dedicated cancer care hospitals.
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Source: Ken Research Analysis
Key Market Findings:
- Private Healthcare Infrastructure in India is almost double of Public Sector in terms of Number of Hospitals, Hospital Beds, ICUs and Ventilators.
- India Government allocated a Budget of 83,000 Crore to Healthcare during FY’2022-23 out of which 57% will be spent for Centrally Sponsored Healthcare Schemes in India.
- Major cities such as Delhi, U.P., Maharashtra, Tamil Nadu highlights the dominant grasp of NABL Labs in north and south region of India with maximum number of labs.
Growing Healthcare Sector Expenditure: The union budget FY’2022-2023 allocated ₹ 86,200 Cr to the Ministry of Health & Family Welfare, nearly 16.5% increase in comparison to FY’2021-2022. This increased expenditure and initiatives like “Digital India”, “Public Private Partnership” and “Make In India” by Government of India are pushing the medical devices manufacturer to offer tailor made India centric, creative solutions
Human Capital: Qualified surgeons and radiotherapy professionals (such as radiation oncologists, radiation therapists, radiation physicists) are in short supply in India. (With a population of 1.3 billion, there were only 10,000 radiologists available in the country in 2021. Usability knowledge gap which leads to equipment downtime, unnecessarily lengthy treatment plans and patient queues.
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Government Initiatives: Establishment of Ayushman Bharat Health and Wellness Centres (AB-HWCs) across the country was announced by the Government of India in February 2018. Screening of three common cancers i.e. oral, breast and cervical, is an integral part of service delivery under the AB-HWCs. (Early diagnosis means early treatment).
Challenges faced by the industry: Underdeveloped general healthcare and late cancer diagnostics, low public awareness, lack of financing and compensation systems, and under-dimensioned power systems that may not serve radiotherapy equipment appropriately.
Analysts at Ken Research in their latest publication “India Next-Generation Oncology Devices and Solutions Market Outlook to FY’2027 – Driven by Increasing Prevalence of Oncology Population, Emerging Technologies in Oncology Testing and Treatment and Increasing Disease Awareness to drive the Market” by Ken Research observed that India Next-Generation Oncology Devices and Solutions Market has entered its growing phase. Entry of Global Manufacturers, Rising technology advancements are some of the factors that will contributed to the India Next-Gen Oncology market growth over the period of FY’2022-2027F. It is expected that India Oncology Devices and Solutions Market will grow at a CAGR of 23.1% for the above forecasted period.
Key Segments Covered in the report
Next-Gen Oncology Devices and Solutions Market
- By Type
- By Devices
- By Solutions
- By Type
- North India
- West and Central India
- East and North East India
- South India
- By Clinical Application
- Cervical Cancer
- Blood Cancer
- Prostate Cancer
- Liver Cancer
Segmentation of India Next-Gen Oncology Devices
- By Application
- Treatment and Monitoring
- Diagnosis
- By End Users
- Hospitals
- Academic and Research Institutes
- Others
Segmentation of India Oncology Solutions
- By Test Type
- Laboratory Tests
- Imaging Tests
- Others
Key Target Audience
- Hospitals
- Diagnostic Centers
- Research and Adademic Instiutions
- Government and Institutions
- Medical Equipment Companies
- Medical Equipment Service Providers
- Global Oncology devices Players
- New Market Entrants
- Investors
- Medical Associations
Time Period Captured in the Report:
- Historical Period: FY’2017-FY’2022
- Base Period: FY’2022
- Forecast Period: FY’2023F-FY’2027F
Companies Covered:
Oncology Solutions
- Public and Private Hospitals (Fortis, Apollo, Max healthcare, AIIMS, Regional cancer centre, HCG, TATA)
- Labs and Diagnostic Centres Dr Lal Path labs
Oncology Devices Companies
- Elekta
- Accuray
- IBA
- Philips
- GE
Key Topics Covered in the Report
Next-Gen Oncology Devices and Solutions Market Overview
Ecosystem of India Oncology Devices and Solutions Market
India Oncology Devices and Solutions Market Evolution
India Oncology Devices and Solutions Market by type,
India Oncology Devices and Solutions market by Region,
India Oncology Devices and Solutions Market Segmentation,
SWOT Analysis of India Oncology Devices and Solutions Industry
Infrastructure Development Overview of INDIA
Trends and Developments in India Oncology Devices and Solutions industry
Trends and Development in India Oncology Devices and Solutions industry
Decision Making Parameters for Selecting Car Loan Vendor
Operational Strategies for India Oncology Devices and Solutions Services Market
Issues and Challenges in India Oncology Devices and Solutions Industry
Government policies affecting the India Oncology Devices and Solutions Industry
Government Initiatives for Automotive Industry
Growth Drivers of India Oncology Devices and Solutions Market
COVID Impact on the India Oncology Devices and Solutions Industry
India Oncology Devices and Solutions Market Competition Overview
Cross Comparison of Major Players in India Oncology Devices and Solutions Market
Strengths and Weakness of Major Players in India Oncology Devices and Solutions market
Future Outlook and Market Projections, 2027F
Case Study on Major Oncology Devices Players
Growth strategies for India Oncology Devices and Solutions market
For more insights on the market intelligence, refer to the link below:-
Leading Medical Devices Service Providers India
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India Medical Device Market Outlook to 2023
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