The biggest medtech markets in Europe are Germany, France, the United Kingdom, Italy and Spain. The same countries form the top 5 IVD markets in Europe. The European medical technology market has been growing on average by 4.6 percent per annum over the past 8 years, while the European IVD market growth has been slowing down until 2013, while annual growth rates in the pre-crisis period were at around 2-4 percent.

Currently there are 800 medical device manufacturers in India of which close to 65 percent of companies have turnover of over Rs 10 crore ($1.5 million) and 2 per cent companies with a turnover of more than Rs 500 crore ($73 million). With upcoming changes in the regulatory and policy Medical Technologies: A Roadmap for Unlocking Future Growth Opportunities for India 18 framework and inherent growth potential of the industry, this sector is expected to undergo a phase of consolidation.

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