The total market opportunity stands at around $ 3 billion for the new healthcare IT infrastructure required in the country.
India may not only see advanced technology within medical equipment, but also an opening up of the possibility of large indigenous manufacturing to serve Indian masses.
This possibility is also taking shape as various development centers of multinational companies have started development and customization of their high end products such as digital x-ray as per Indian requirements.
Ajay Pitre, the Chairman of CII said, "Medical Technology Industry should not be a participant but an active contributor for spreading healthcare services across all Geographic and cultural dimensions."
"The industry needs to rise to the challenge and look at innovation, along the product, process, business model and delivery spectrum to achieve solutions that are more relevant, affordable and accessible in the Indian context," said A Vaidheesh, MD Johnson & Johnson.