India's Leading Healthcare & Pharma Companies 2023

50 | India’s Leading Healthcare & Pharma Companies 2023 [ OVERVIEW OF INDIA MEDICAL DEVICES SECTOR ] Amongst export destinations, USA is a top export destination for medical devices followed by China, Germany, France, and Singapore. In FY22, India’s top 5 export destinations for medical devices accounted for 37% of total medical devices exports. Impor t s of medi ca l dev i ces increased by ~37% to USD 8.5 bn in FY22. The steep rise in Export destinations, FY22 Source: EEPC India, Ministry of Commerce Imports development of medical devices, FY20-22 (Mn USD) Source: EEPC India, Ministry of Commerce imports can largely be attributed to surgical instruments, electronic equipment, and implants. With the pandemic threat receding, the rise in surgeries and implant procedures led to increase in imports. Dun & Bradstreet