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Abstract
Focus areas for developing
business were (1) investment in R&D (2) work mainly
with companies who have prior experience of
manufacturing Medical Devices (3) sell quality
products in developed & regulated markets (4) To
invest in Internal & External Training (5) To set up
an effective Information Management & governance
system (6) set up KRA/KPI’s at all levels in the
organization 7) Empower employees so that decision
making becomes fast at all levels (8) Rely on
Innovation as the only engine for future success. (9)
To put a strategy in place and achieve Apex goals like
Brand Leadership, Business Volume & Internal
Excellence.
Size of Indian Medical Device Industry which includes
complex products such as drug eluting stunts,
implants, pace makers to Syringes, Needles etc is
approx Rs.4000 Crores.
80% of the Medical Devices are imported into India.
Indian Medical Devices Industry has not invested
enough in R&D to develop new products & is mostly
relying on mee-too products.
On the contrary China has over 15000 manufacturers of
Medical Devices and size of the industry is approx
16000 crores. Most of the outsourcing done by USA &
European companies is done in China. Due to increasing
costs in the west as per Industry estimates there is a
possibility of US$ 10 Billion outsourcing opportunity
into low cost manufacturing countries including India,
China & Vietnam etc. in next 10 years.
As per the current scenario most of the Indian medical
Devices companies were unregulated and due to this the
standard of manufacturing was not up to the Global
acceptable requirements. The need of the hour is to
regulate the Industries as per EU Medical Device
Regulation (MDD) or follow GHTF (Global Harmonized
Task Force) guidelines to bring Indian Medical Device
Companies at par with International Standards.
Jointly we can all create Training programs for all
stake holders i.e users, Industry & regulators &
Participate in GHTF, AHWP & other global initiatives
to bring Indian companies to Global standards.. |
