Import of medical devices up 24% in FY19 despite cap on pricing

The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, and more

Both imports and exports of medical devices grew in double digits during FY19, with exports being higher in value terms. However, India remains an import-driven market, despite price caps on key devices.

Key items under price regulation, such as stents and knee caps, have not seen any slowdown in imports. In fact, growth in overall import during FY19 was higher than the previous three fiscal years. The government, on its part, has started taking action. It recently imposed a customs duty of 30 per cent on in-vitro diagnostic (IVD) medical reagents.

Data from the commerce ministry, compiled by the Association