Page 12 - ie2 August 2019

SPOTLIGHT

Table7: Top 5 import destinations for India

Exporter 2014 2015 2016 2017 2018 CAGR %

USA 1,022.96 1,026.84 1,077.36 1,162.60 1,151.76 3.01

Germany 578.63 578.96 579.02 660.81 720.72 5.64

China 393.21 454.51 459.45 547.40 602.18 11.24

Singapore 208.61 209.68 245.66 321.31 501.14 24.50

Japan 264.54 277.94 309.95 320.96 316.15 4.56

Source: ITC Trade Map

EMERGING DESTINATIONS FOR INDIA’S MEDICAL DEVICES

AFRICA Nigeria India Pavilion in Nigeria Pharma
The African medical devices market is Nigeria’s medical system is still under- The 5th Nigeria Pharma Manufacturers’
growing at a steady rate and is expect- developed and the country loses at least Expo 2019, which will be organised over
ed to exhibit a CAGR of 6.3 percent and $1.5 billion every year for the purpose of 28-29 August, is an excellent opportuni-
reach $7069.61 million by 2023.5 Factors medical tourism.6 Most private clinics ty for Indian medical devices manufac-
such as growing middle income group, are unable to afford new medical equip- turers and exporters, as over 4000 phar-
increasing healthcare expenditure, in- ment and are dependent on refurbished ma trade professionals from across the
creasing number of medical tourists, or used ones. However, recently the gov- region including Nigeria, Ghana, Mali,
proliferation of hospitals, government ernment adopted some positive steps Chad, Cameroon, EQ Guinea, Central
programmes and support, and increas- that are expected to go a long way in African Republic, Senegal, The Gam-
ing incidence of lifestyle diseases have expanding the Nigerian medical devices bia, Ivory Coast, Niger, Burkina Faso,
significantly contributed to the growth market. The medical devices subsectors and Benin among others are expected to
of the medical devices market in Africa. which are in high demand include di- attend this exhibition. EEPC India has
Looking at the high potential of the agnostic equipment and medical dis- been a longstanding participant in this
African market, EEPC India has been posables, especially those for testing for exhibition.
participating in a number of medical malaria parasites, drug abuse, and in-
devices exhibitions in the region. In Au- fectious diseases such as HIV/AIDS and Ethiopia
gust 2019, EEPC will organise the India tuberculosis. China is the major suppli-
Pavilion in Nigeria Pharma Manufac- er of the low-tech equipment that the As a country Ethiopia has a large, pre-
turer’s Expo, one of the premier medical country can afford. Also, a zero-import dominantly rural, and impoverished
devices exhibitions in Africa. Following duty applies to all medical equipment population with poor access to safe wa-
this, in January 2020, EEPC India is or- as per legislation, but according to the ter, housing, sanitation, food and health
ganising the Indian Engineering Pavil- President of the Healthcare Federation service. With a growing middle class,
ion in Ethiopia where medical devices of Nigeria (HFN) in practice an import- there is also an increase in non-infec-
will be a focus sector. er could pay rates up to 10 percent. tious diseases such as cancer, diabetes,

12 l INDIAN ENGINEERING EXPORTS l AUGUST 2019