Anticipating increased demand for personal protective equipment (PPE) products following the rising number of coronavirus (Covid-19) cases, India has recently decided to ban their exports. However, as the entire world is battling the coronavirus outbreak, India needs to speed up domestic production to avert any medical equipment supply chain disruption, says GlobalData, a leading data and analytics company
GlobalData’s research reveals that the Indian hospital supplies market, which accounted for more than 8% of the Asia-Pacific (APAC) hospital supplies market in 2019, is expected to grow at a compound annual growth rate of 3.7% through 2025.
“The decision to ban the export of medical equipment will ensure the health workers in the country will have enough protection to deal with the Covid-19 outbreak. However, it will leave the export-driven businesses to suffer. Particularly, manufacturers with prior export commitments will be at loss. In addition, it will affect the nations that are dependent on Indian medical equipment manufacturers for supply,” said Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData.
“As a result, it is high time for India to speed up the domestic production of required medical equipment such as ventilators, surgical/disposable masks and textile raw materials for masks and coveralls,” she said.