With more than 20 years of presence in India, Swedish healthcare company Getinge is poised to make considerable forays in country’s healthcare sector with a huge concentration on the premium ventilator market. For the introduction of new products, spanning across premium and mid-range categories, the company believes it will be able to garner 45% market share within the next five years from the present 30%. Partnerships with the biggest hospital chains-Getinge happens to have installations in more than 2,000 hospitals in India and is also increasing its reach in this country through partnerships with major hospital chains such as Apollo and Fortis.
Getinge has launched various products which include Ventilators, Sterilizers, Operating Lights, and Operating Tables. For example, the Indian ventilator market is estimated to be around Rs 820 crore, and the premium segment is likely to touch Rs 37.3 crore by 2024. This segment is rising very strongly at a compound annual growth rate of 8.12%.
Aruna Nayak, MD of Getinge India said that the company has committed to India as one of its key growth markets. “We have invested here by expanding our product portfolio and strengthening our distribution network.” Our goal is to deepen our market share, especially in the premium segments, while ensuring access to advanced healthcare technology for hospitals across all tiers,” she said.
Apart from product line expansion and upgradation, Getinge has launched high-end technologies such as a radio-imaging tool for breast and thyroid surgeries, and an ultra-high-end operating table targeted towards high-end healthcare facilities. These new products are targeted towards metros as well as Tier-II and Tier-III hospitals.
In addition to expanding in critical care and hospital technologies, Getinge is increasing its focus on India’s life sciences sector. With rising demand for sterile injectables and vaccines, the company expects significant growth in this area, despite currently holding a modest market share in sterile manufacturing. Getinge anticipates annual growth rates of 30-35% in this segment, driven by increasing demand within the pharmaceutical industry.
