The size of the Indian healthcare market is approximately 34 billion US dollars and it's estimated to grow to 40 billion USD by 2012. Diagnostics and pathology take up only two percent of the whole healthcare market but their share is growing rapidly. The revenues from diagnostic and pathological products are estimated to grow 15 to 20 percent annually for the next ten years.
Despite the fast growth, there is clear development needs at the Indian diagnostic market. Due to rapid urbanisation there are more and more city hospitals needing new spaces, services, laboratories and equipment. There is also a growing demand for preventative wellbeing services.
Unlike Finland, cooperation between research organisations and companies is still relatively rare in India. The researchers are willing to cooperate with the industry, which promises great cooperation possibilities.
There are approximately 150 Indian companies operating in diagnostics. 50 of them seem interested in Finnish–Indian R&D cooperation.
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