New Delhi, Dec. 27 -- India's medical technology (medtech) industry is poised for rapid growth in the coming years, with several new players entering the segment to meet the rising global demand for a range of medical devices.

The Indian medtech industry is relatively young and will take time to earn the confidence of local hospital chains that source most of their devices from established, foreign multinational corporations (MNCs). As such, Indian medical equipment manufacturers are eyeing regulated global markets like the US and Europe, as well as Asia Pacific and the Middle East regions for business and better revenue realization, industry executives and experts said.

According to the Association of Indian Medical Device Industry (AI...