|
What is
your perception for the shape of Indian Medical Device
Industry post implementation of regulatory reforms ? What
message you would like to give to the Industry?
The Indian
Medical Devices sector should get together like the Japan
Federation of Medical Device Associations. They should
form themselves into a similar organization, and adopt a
far-sighted vision and policy framework aimed at enabling
Indian companies to grow into world class.
How do
you see the shape of the global medical device industry
and what kind of emerging trends are apparent on the
horizon? How do you rate Indian sector in the global
context?
The global
medical device industry has been driven by market needs of
the developed countries. Hence designs were developed
based on the needs of those advanced countries, driving up
costs of healthcare. What we need is to develop products
for use in countries like India, China, Brazil, etc which
are the markets of the future. These markets are also very
large, and will provide enough scope for many Indian
companies to grow into global scale. Indian companies have
the potential to succeed in these markets, but will have
to learn to become more innovative and customer oriented.
What
level of acceptance has Indian blood banking products in
world markets?
Our company
exports to over 60 countries in all the continents, and
our order books are full. We are in fact expanding
capacity to meet the demand. Therefore I believe Indian
products can gain international market acceptance provided
they adhere to high standards of quality and safety.
What are
the major problems being faced by Indian medical device
products exporters in the global markets? Are the
prevailing promotional schemes sufficient to face global
competition? What are the further initiatives / steps/
relief you suggest / expect from the authorities to help
on export front?
In the
emerging global scenario, I believe the space for
financial incentives is shrinking as tariffs are steadily
coming down. The Government should ensure that Indian
companies are enabled to compete on a level playing field
by neutralizing disadvantages of being located in India eg
higher interest costs, poor quality infrastructure, higher
transaction costs due to corruption/delays etc. Second,
Indian laboratories can be encouraged to take a more
commercial approach in co-developing products with Indian
companies. Incentives can be structured to encourage
Indian companies to spend more on R&D, and business
development in export markets.
Finally,
how do you look at the overall growth of the medical
device industry by 2020? What kind of innovation you
foresee in the blood industry?
By 2020,
the Indian healthcare sector is expected to be around 6-8%
of GDP. That will mean a size of around USD 300 billion!
Of this, about 20% will be accounted for by medical
products including pharmaceutical products. This is a huge
growth from the present size, and represents a great
opportunity for Indian companies to grow to global scale.
What are
your future plans and what is your perception becoming an
industry leader?
Our plans
are focused on becoming the best-in-class in blood
transfusion products manufacture globally. We will become
a manufacturing base for supplying markets worldwide.
Page :
1 |
2 |
