Events

The healthcare industry in India is expected to double in size from its current € 12.72 billion to € 29.6 billion by 2012. The medical technology market too is hotting up. With sweeping economic reforms, the stage is set for a massive influx of state-of-the-art equipment further supported by indigenous manufacture. The need for a strong international technology platform for the healthcare sector and medical technology in particular, was met by Meditec Clinika, the first of its kind in India- both in terms of scale and appeal. As the industry prepares for its second hosting in 2009, our correspondent talks to Prof. Dr. Sadanand R. Shetty – D.M. (Cardiology) M.D. (Medicine), FCPS, FACA (USA) of Sadanand Healthy Living Center (P). Ltd. on the future of Healthcare and the role of Meditec Clinika in taking the Medical Equipment and Technology market in India, to the next level.

Q. What pattern have you observed at the macro level in India, vis-a-vis the healthcare industry?

Doc: Private sector is more inclined on the tertiary-level as well as preventive and diagnostic healthcare, whereas the public sector is more focussed on prevention and elimination of infectious diseases as part of its basic healthcare facilities at subsidized rates to the rural masses.

Q. So doesn't that throw open avenues for the private sector?

Doc. Certainly. Corporates are sensing a huge untapped opportunity in delivery of quality healthcare to the Indian masses. Many multinational companies are attracted by advantages such as lower costs of production and skilled workforce that India offers. These companies are looking to set up research and development as well as production centers here.

Q. What is the state of India's Medical Infrastructure compared to that in the region?

Doc: I have reports that show India's bed per thousand population ratio is only 1.03 as against an average 4.3 compared to China, Korea and Thailand. So there is a tremendous shortfall which can be converted into a huge potential by the industry. Then again, growth in medical infrastructure will be accompanied by demand for associated products and services, mainly medical textiles.

Q: The government has taken some measures to promote one of its most important segment "Medical Device Market". Do you feel that medical technology will rule the healthcare of tomorrow?

Doc: To a certain extent, yes. Currently over 65% of the medical equipments are imported and thus lies a key area for forging partnerships across borders. According to official statistics, the number of clinics and hospitals have increased almost four times since the1950's. This has also increased the demand for medical equipments making it one of the most promising markets.

Q: Why is this situation different today and how do you see it ?

Doc Post liberalization, the duties have come down and so many life saving medicines and equipments can be imported duty free. Imports constitute around 90-95 per cent of the current medical devices in India today. Of these 85% are imported from US, Germany and Japan. The growth in demand is consistent too. Hence, the Medical Device Market is full of opportunities for investment in hi-tech, high quality and specialized medical equipments.

Q: What is the scope for indigenous medical device manufacturing?

Doc: The demand for medical equipments is rising annually at an impressive rate of 15%. The Indian Healthcare sector has seen progressive increase in investments in healthcare infrastructure and facilities. Foreign participation is required, especially in hi-tech devices that account for roughly 45-55 % of the entire market. Engineering excellence, cost-effective labour, increasing emphasis on intellectual property rights and most importantly a fast growing domestic market, makes India an ideal manufacturing base and the potential of becoming a global provider of medical devices.

Q. There are numerous medical technology fairs abroad. Where in India does one get such an international platform that brings together the technologies of the world?

 
Doc: Although I have been to many an exhibition abroad, I think Meditec Clinika held in March 2008 at Chennai, was one event that came very close to some of the leading international exhibitions in its category. Frankly, I was most impressed by its profile and international appeal since it drew many world class exhibitors, visitors and speakers.

Q. Any personal experiences of Meditec Clinika 2008 you would like to share?

Doc: Many. In fact I had never seen such a comprehensive event for Medical Equipment in India, or for that matter even in South East Asia. Here, I was able to source equipment for our hospital which I was looking for at some of the better known trade fairs in the region, but without success. In fact it was only at Meditec Clinika 2008 that I was introduced to so many firsts in diagnostics and telemedicine. Meeting overseas and Indian suppliers at a single venue, that too in your home country, makes it so convenient and economical also.

Q. What role does Meditec Clinika play for the Indian Medical Technology Industry?

Doc: One of the biggest advantages is that the Indian medical and healthcare industries can access an exhaustive array of top-of-the-line technologies under a single roof in India itself. Prior to this, one had to visit international trade fairs, overcome language and trade barriers and bring international logistics into play. This proved to be a long drawn, tedious and expensive task. Meditec Clinika made sourcing of medical equipment from an overseas supplier very easy. India has finally got a forum for Medical Technology which would put its healthcare sector on the global map. For those who missed Meditec Clinika 2008, I strongly recommend that they take full advantage of its next version.

Meditec Clinika 2009 is scheduled 21st to 23rd February 2009 at
HITEX Exhibition Center, Hyderabad City, India
www.meditec-clinika.com