Monthly Archives: July 2017

Current Scenario of Medical Device Industry in India

Medical Writing

The Indian healthcare industry is on a high growth trajectory and undergoing transformation across the continuum since the last decade. Technology is redefining the possibilities in healthcare delivery and expanding global industry leadership of the healthcare sector while seeking elusive solutions for addressing India’s needs. With the recent approval of National Health Policy 2017 by the Government of India, healthcare expenditure intends to increase to 2.5% of gross domestic product (GDP)and India embarks on a planned approach to bridge the healthcare divide while maintaining industry competitiveness.

Medical device industry is rapidly moving into an era of growth driven by unmet clinical needs and greater focus on domestic manufacturing. Indian medical devices market is the 4th largest in Asia and in the list of top 20 in the world.1 The medical device sector represents 9% of the overall Indian healthcare industry. It was estimated at the value of USD 4 billion in 2014 and is growing at a compounded annual growth rate (CAGR) of 16% over the period of five years.2

Key Driving Factors of the Medical Device Industry

Key Driving Factors of the Medical Device Industry

In current scenario, there is an immense need to use medical devices effectively to address the huge gap between demand and supply of healthcare services in India. The medical devices sector in India is at a nascent stage with most of the indigenous manufacturing restricted to medical consumables. In true sense, imports still constitute over 75% of the current medical devices market. India is looking forward to improving self-sufficiency in medical devices as a part of the “Make in India” initiative.

The rapidly expanding sector presents immense opportunities to local manufacturers and startups as well global players. There is a big shift in health burden from communicable to non-communicable diseases, which in turn is driving key medical devices segment. There is a huge demand for both cutting‑edge precision technologies as well as affordable low technology. The Indian medical device innovation ecosystem is fast evolving with academic research, venture capital firms, government funding, and promising startups which are developing products specifically for the Indian market. Innovation is a transforming force across the industry to propel growth, improving value, creating sustainable business opportunities, and expanding “Make in India” drive.

Although there is robust growth across segments, new challenges abound which need attention from both policymakers and industry to sustain the momentum across segments.Major hurdles that slow the growth pace of the medical device industry arethat of price control and uncertainty about the effect of new Medical Device Rules, 2017 which will be applicable from 1st Jan 2018.Despite the above challenges, medical device represents the segment where greater change and growth is expected in coming future.

Turacoz Healthcare Solutions, as a knowledge partner of the medical device companies are well equipped to raise up to the occasion and support the industry with a wide range of service spectrum. Our regulatory experts can give consultancy services for global regulatory strategies development and medical device approval and registration, and provide support for Indian market with registration and approval in India (Form 41), manufacturing license (Form 28), import license (Form 10), CE Marking / European MDD Compliance, and FDA 510(k) Notifications / PMA Submissions.

Feel free to reach out at [email protected] for any query or RFI/RFP related to medical devices.

 

1IBEF Healthcare Report 2017

2FICCI and Quintiles IMS reports

Importance of Good Oral Health

Health & Fitness

Oral health is an integral part of our general health, yet is the most neglected one. The Indian Dental Association (IDA), in a National Oral Health Survey, 2005, highlighted that 95% of the Indian population suffers from gum diseases and only 50% of the population use a toothbrush. The survey also noted that, only 2% of the population visit the dentist.

A good oral health plays an important role in overall health improvement, improving quality of life, boosting of self-confidence and performance enhancement at workplace. However, the irony lies in the factthatmost people remain unaware of the benefits of maintaining a good oral health. Further, individual’s lack of knowledge, a neglecting attitude, and inadequate oral hygiene practices adds to the oral health problems.

Pyorrhea (periodontitis), tooth decay/ cavities, misaligned teeth, and oral cancer are amongst the most common oral health problems affecting people worldwide as well as in the India. It has also been proved by researchers and has been widely accepted by doctors/ dental professionals worldwide that oral and general/systemic healthshare a two-way relationship between them. This means that oral diseases especially,pyorrhea may predispose an individual to different systemic diseases such as uncontrolled blood sugar levels/ diabetes, hypertension, heart diseases and many more. The implications of poor oral health have been shown in Figure 1. Similarly, systemic diseases especially diabetes may also lead to/ worsen oral diseases especially, pyorrhea/ periodontitis. Thus, to keep ourselves healthy, it is very important to maintain an adequate oral health.

Figure 1 : The implications of poor oral health