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Importance Of Medical Device Parks And Its Contribution
To
MeDTech Industry Growth
According to the United Nations definition, “Industrial
Parks (IPs) are the small and middle size organizations
that have integrated business and production, benefiting
from the common infrastructure services that have
allocated in standard fabric buildings”.
As the concept got developed, Industrial Parks have been
established for the development of industrialization,
focussing overall increasing industrial productivity,
utility, quality of goods and services; which got
recognized as a method of cost alleviation process in
the industrialization process.
For the developing countries, Industrial Parks ( IPs )
are rather more important and beneficial than the
developed nations. As the clusters in IPs are small and
middle sized institutions, the importance and
productivity of these businesses are comparatively more
efficient than in developed world. IPs promote sizeable
incentives for the small and middle business enterprises
to invest and enlarge their productivity and profits.
Eventually, IPs lead to significant regional development
in all locations where they have come up; besides it has
also been noticed that in the long run, IPs have revived
the stagnation in the regions by accumulating and
providing more employment and promoting balanced
economic growth.
At the backdrop of these developments, it all began with
the concepts towards developing industrial Parks
specific to a gamut of industrial segments like Medical
Device Sector which has come a long way to be identified
as a separate industrial segment in it.
The Medical Device industry is highly capital intensive
with a long gestation period and requires development
and induction of new technologies. It also requires
continuous training of health providers to adapt to new
technologies. Most of the hi-tech innovative products
originate from a well-developed eco-system and
innovation cycle which is yet to be fully developed in
India.
For the developing countries, Industrial Parks ( IPs )
are rather more important and beneficial than the
developed nations. As the clusters in IPs are small and
middle sized institutions, the importance and
productivity of these businesses are comparatively more
efficient than in developed world. IPs promote sizeable
incentives for the small and middle business enterprises
to invest and enlarge their productivity and profits.
Eventually, IPs lead to significant regional development
in all locations where they have come up; besides it has
also been noticed that in the long run, IPs have revived
the stagnation in the regions by accumulating and
providing more employment and promoting balanced
economic growth.
At the backdrop of these developments, it all began with
the concepts towards developing industrial Parks
specific to a gamut of industrial segments like Medical
Device Sector which has come a long way to be identified
as a separate industrial segment in it.
The Medical Device industry is highly capital intensive
with a long gestation period and requires development
and induction of new technologies. It also requires
continuous training of health providers to adapt to new
technologies. Most of the hi-tech innovative products
originate from a well-developed eco-system and
innovation cycle which is yet to be fully developed in
India.
Since the creation of testing and laboratory facilities
requires huge investment, a Scheme called 'Promotion of
Medical Device Parks" has been approved by the
Government of India to establish four medical device
parks in India with a financial outlay of INR 400 crore
in order to facilitate reduction in manufacturing cost
of medical devices in the country.
The parks will provide common infrastructure including
common testing and R & D facilities centre at one place
reducing the manufacturing cost significantly and create
a robust ecosystem for medical device manufacturing in
the country. |
