A TECHNO-ECONOMIC NEWS MAGAZINE FOR MEDICAL PLASTICS AND PHARMACEUTICAL INDUSTRY
Our 13th Year of Publication
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Cover Story

Medical Device Sector in India

The notification For Import and Manufacture of Medical Devices will allow market to grow and help patients access the best available to diagnosis, monitor and recover at a faster pace.

(Abstracted from an interview with Mr Milind Shah, Managing Director,  Medtronic’s Indian operations by Nandita Vijay of Chronicle Pharmabiz)

The medical devices market is showing a double-digit growth. The cardiac devices alone are growing at 20 per cent. In India, the growth of the market is estimated to be between 10-15 per cent. There is a clear indication that the penetration levels are higher in the country. This is because of affordability by patients, increased awareness on health care, improved hospital infrastructure and the increased disease patterns.

The Union government has notified 10 medical devices including cardiac and drug eluting stents as drugs that require central clearance prior to import, manufacture or marketing in the country.

The notification will allow market to grow and help patients access the best available to diagnosis, monitor and recover at a faster pace. Regulatory approval for medical devices has to be made mandatory in India. There is a need for regulation in India as globally all medical devices undergo stringent quality norms.

Medtronic Inc., a global medical technology company provides therapies for the world’s 20 most challenging diseases which include Parkinson’s, cardiovascular disorders, spine injuries, diabetes and neurological problems. Milind Shah, managing director, heads Medtronic’s Indian operations.

The current trend in the medical devices sector  is the convergence of biotechnology, information technology and medical technology.

The future holds immense potential for this sector.

For Medtronics the key driver for growth is innovation.

(Ref : Chronicle Pharmabiz dated March 30, 2006)

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