Creating an Innovation Ecosystem for Biomedical Innovations in India

Abstract

During the last decade, India has evolved strongly to create an ecosystem which supports Biomedical Innovations. Medical Devices plays a critical part in Biomedical Innovations arena and a significant surge in growth has been noticed in the Medical Device Sector in the past 5 years. As per Market Research.com, the Medical Device market in India is expected to reach INR 4,358.64 Bn by FY-2027 which means it is expanding at a compound annual growth rate (CAGR) of ~41.93% during the FY 2023-2027.