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(From India Business Insight)
The medical devices industry is one of the fastest growing industries. Its global market is estimated at over $260 billion. The Indian market for medical equipment and supplies is worth $260 million. It is expected to touch $1.7 billion in 2010. The Indian market looks small but ranks among the top twenty in the world with per capita spending of mere $1. Imports constitute 50 percent of Indian medical equipment and supplies market.
Foreign suppliers are now entering Indian market through joint ventures or licensing agreements to manufacture their products locally. They are also appointing local agents for distribution of their …