This year more than 60 Israeli companies participated in Medica 2016 which was held during Nov.14–17, 2016 at Düsseldorf in Germany. The main exhibitors were in Israeli pavilion in Hall 16 Stand G 40. But the companies were also showcasing their Products/ Technologies in Hall 3, 5 and 8.
Israel being a global technology research and development center, its strength in this sector stems from inter-disciplinary capabilities, which bring together medicine, clinical expertise, materials science, electronics, software expertise and engineering know-how. Israeli development centers of multinational companies have an annual turnover of billions of dollars. The Israeli companies had showcased vast product range to offer in areas such as The Israeli companies have a vast product range to offer in areas such as Disposable & Implantable, Robotics, Telemedicine, Diagnostic & Monitoring, EHR, mHealth, Endoscope & Accessories, Imaging, Minimally Invasive Systems, Healthcare IT, Commodities & Consumer Goods, Universal medical commodities, Disinfectants, OTC – Over the Counter, Dermatology & Aesthetics, Cardiovascular, Diabetics, Gastrointestinal, Infection Control, ICU, Biotechnology – Research Tools etc.. The Israeli Exhibitors were: Allium Medical, B-Cure Laser, Chaban Medical, CNOGA Medical, Estar Medical, Flight Medical, GlucoMe, HealthWatch, Hisense, IceCure Medical, Inovytec, Integrity Applications, MediTouch, Mennen Medical & MTRE, NeoLaser, Neuronix, Nuvo, Salute, TavTech, Topocare, Via Surgical and many more.
The Indian medical device sector is worth approximately USD 5.5 Billion and is expected to grow at 15%. The medical device market is dominated by imported products, which comprise of around 75% of total Sales. The domestic companies are largely involved in manufacturing low-end products for local and as well as international consumption. Lately, many multinational companies have established local presence by acquiring established domestic companies or starting a new business.
The overall Indian healthcare market is worth around US$ 100 billion and is expected to grow to US$ 280 billion by 2020. Healthcare delivery, which includes hospitals, nursing homes and diagnostics centres, and pharmaceuticals, constitutes 65 per cent of the overall market. The Healthcare Information Technology (IT) market which is valued at US$ 1 billion currently is expected to grow 1.5 times by 2020. There is a significant scope for enhancing healthcare services considering that healthcare spending as a percentage of Gross Domestic Product (GDP) is rising. Rural India, which accounts for over 70 per cent of the population, is set to emerge as a potential demand source. India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of population. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep.
From Indian perspective, Israeli Pavilion in Medica 2016 attracted many Importers and distributors. Keeping in view the interests of Israeli companies more than 60 meetings were scheduled with Indian Importers and Distributors through Global Event Scheduling portal of Foreign Trade Administration and around 110 on the spot meetings with new Indian companies.
The Indian companies were assisted in scheduling the meetings and came to Israeli Pavilion were TBS INDIA Telematic and Biomedical Services P Ltd., Paseca Healthcare, CURA Healthcare, GCV Life, Microgen Hygiene, AVM Healthcare, Wearable Technology Valley, Azista Industries.
While at the Israeli Pavilion we were able to get attention of around 34 new Indian companies which showed their interests and met Israeli companies. Some of them were Decent Diagnostics, Liberty Med Supplies, Green Healthcare, Chennai Medipoint, Biosync Medica, PaMed Services, Hospimax, Mark Life Sciences, Kure Medical, Medix Medical Systems, Edifice Medical Systems, Delhi hospital Supply, Dr. Reddy’s, Indian Orthocare Surgicals, Surbhi Surgicals, Mex India, Volant Technologies, Global Medicare, Arena Medical Care, Alliance Biomedica, Axis Healthcare, Health Ware, Biometric Cables, Inv Ascent, Sterimed, MIL Laboratories, S3V Vascular Technologies and many more. The companies were interested in being the Importers and Distributors in India.
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Medical Device Sector