Poly Medicure, manufacturer of medical devices & disposables, has earmarked Rs 50 crore as capital expenditure for the next couple of years. The Delhi-based company would be expanding manufacturing capabilities in existing plants and would also set up a new plant in Jaipur.

“The additional capacity would be utilised for our foray into the domestic diagnostics and pathology testing market. We see the new business contributing significantly in a couple of years,” Hemant Bhalla, senior general manager of Poly Medicure, said.

The market for blood collection tubes, which Poly Medicure makes, is 50 crore tubes per annum, which is expected to grow to 100 crore tubes in the next three years.

“The market has grown robustly in past few years to become a potential investment field for players. Various factors, such as rising prevalence of diseases, improving affordability of patients and increasing penetration of health insurance, have contributed substantially to spur demand for diagnostic services in the country,” Bhalla adds.