Swedish firm Getinge eyes bigger share of hospital tech market in India

Swedish company aims to reach 45 per cent market share from current 30 per cent in five years by launching a range of new products

Getinge, a Swedish healthcare company with over two decades of presence in India, is positioning itself for significant growth across segments of the healthcare industry, including in the premium ventilator market.

 

The company aims to reach 45 per cent, from the current 30 per cent,  market share in the next five years by launching new products across both premium and mid-value ranges.

 

With installations in over 2,000 hospitals, including leading chains like Apollo Hospitals and Fortis, it is focused on expanding its presence in various segments of the healthcare industry by introducing new products including ventilators, sterilisers, operating lights, and operating tables.

 

 

The Indian ventilator industry is estimated to be around Rs 820 crore, with the premium segment expected to be Rs 37.3 crore in 2024. This segment is growing at a compound annual growth rate (CAGR) of 8.12 per cent year-on-year.

 

"India is a key growth market for us, and we are investing in our operations here, including expanding our product portfolio and strengthening our distribution network. We are also expanding our footprint by introducing innovative solutions across critical care, cardiovascular, and life sciences,” said Aruna Nayak, managing director Getinge India.

 

“Our goal is to deepen our market share, especially in premium segments, while ensuring access to cutting-edge healthcare technology across all tiers of hospitals," Nayak said.

 

The company is also set to introduce technologies such as a tool for radio imaging during breast and thyroid surgeries, and a high-end operating table designed for premium healthcare facilities. These products are part of Getinge's strategy to cater to hospitals of all sizes, from metro cities to Tier-II and Tier-III locations.

 

As India's pharmaceutical industry demand grows for sterile injectables and vaccines, Getinge is increasing its focus on life sciences. Although its market share in sterile manufacturing remains in the late single digits, the company anticipates growth rates of 30-35 per cent in this segment.