Medical technology, a vast sector that encompasses everything from bandages to MRI machines, is an integral part of an effective healthcare system. Medical technology (MedTech) includes diagnostics, hospital equipment, consumables, surgical tools (including multi-million dollar robotic systems), implants, software, and various other kinds of life-saving and life-enhancing technologies. While smaller than the pharmaceutical sector in terms of sales, MedTech is as critical in the provision of effective healthcare all over the world. The MedTech industry in India is estimated to be Rs.50-70,000 crore, growing briskly at 15per cent annually, and is expected to reach Rs.150,000 crores by 2025. Globally, the sector is also growing, from $500 billion today, to an expected $600 billion by 2025.
