A report published by the US International Trade Administration has explored commercial opportunities for US firms in India across a variety of sectors including healthcare, where it identifies opportunities for US suppliers of medical devices, telemedicine solutions, AI solutions, and more.
The report states that “despite numerous market challenges”, the Indian medical device market remains an attractive target for US firms, highlighting the dependence of the country on foreign suppliers for equipment including cancer diagnostics, medical imaging, and ultrasonic scan technologies, with almost 80 percent of medical devices being imported.
In particular, the report identifies opportunities for US suppliers relating to devices such as surgical instruments, medical imaging equipment, cancer diagnostic solutions, point of care testing diagnostic devices, digital healthcare, health IT, and telemedicine services. It also highlights “diverse opportunities for U.S. companies” in the Indian biotech and biopharma sector.
On opportunities within digital healthcare, the report notes the rapid expansion of digital healthcare and telemedicine in India since the COVID-19 pandemic, but considers that this domain remains “in its infancy”. It concludes that AI and telemedicine-related technology “will provide significant opportunities for U.S. firms in the coming years”.
To read the report in full, please click here.
In other news from India, 12 small to medium enterprises based in India, have been selected for Health Innovation Yorkshire and Humber’s Propel@YH Boot Camp, a programme designed to bring global health innovations to the region and to provide the SMEs with support and masterclass content delivered by a range of healthcare partners.
