PUBLISHER: Inkwood Research | PRODUCT CODE: 1170427
PUBLISHER: Inkwood Research | PRODUCT CODE: 1170427
The India X-ray tube market is set to progress with a CAGR of 4.94% during the forecasted years. Some of the top drivers facilitating the country's market growth include the rise in investments by the government as well as the rapidly-developing healthcare industry. While the base year regarded for the studied market is 2021, the estimated period is between 2022 to 2028.
While high-priced products by international companies serve top private hospitals in major Indian cities, healthcare units in small towns and cities are catered to by domestic firms. Furthermore, with the increased investments in the country owing to initiatives like the Make in India Phased Manufacturing Programme (PMP), in addition to the high import duties on foreign technology, the quality of local manufacturing is set to enhance over the upcoming years. This factor, in turn, makes X-ray tubes more affordable and leads to an increase in sales, as well.
With regard to the Make in India initiative, the government aims to establish five parks in order to manufacture low-cost medical devices in the nation. As a result, this would help slash X-ray tube prices, thereby augmenting their usage across India. Hence, these factors are anticipated to fuel the X-ray tube market growth in India during the forecast period.
Key players operating in the market are: Siemens Healthineers AG, General Electric Healthcare, Lafco India Scientific Industries, etc.