Indiainfoline - Medical equipment...India ranks in global Top 20

But average per capita spending on healthcare remains low at only around US$1, says Research and Markets

The Indian market for medical equipment and supplies ranks among the Top 20 in the world, but average per capita spending on healthcare remains low at only around US$1, says Research and Markets in its latest report. India has a huge population in excess of one billion people. At current growth rates, it will reach around 1.2 billion by 2010, of whom around 58 million will be aged 65 years and over. While the proportion of the elderly population remains comparatively small vis-a-vis the developed nations, the number is equivalent to the entire population of Italy.

As the country develops, India has a growing middle class population with access to high quality healthcare. Leading business and healthcare providers are also striving to make India an international health resort, with an airport to airport concept of health tourism. In 2004, the Maharashtra state government established a Medical Tourism Council to try to attract more foreign medical patients, the main incentive being India's comparatively low costs, quoted at around a fifth of those in the West.

But, India is a country of extremes and developments at the top of the market are unlikely to filter through to the public health system, says Research and Markets. The vast majority of the Indian population is both rural and poor, although urban poverty is also a problem. Modern healthcare technology and western style pharmaceuticals are not even an issue for millions of people.

On a national level, the Indian healthcare system is ill-equipped to cope with the rising number of elderly and the changing disease patterns, with an average of just 0.7 hospital beds and 0.6 physicians per thousand population, according to the report. India faces the continuing challenge of fighting infectious diseases like malaria, tuberculosis and leprosy alongside increases in lifestyle related problems faced by the developed world, such as cancer, cardiovascular disease and diabetes, says Research and Markets.

The best opportunities for foreign manufacturers are in the private sector, particularly for high quality products that represent value for money, although competition is fierce and the high tech end of the market is dominated by multinationals with extensive service networks, says the report. At the other end of the scale, the low to mid tech end of the market will be met mainly by the domestic industry.