Dr. Swadeep Srivastava & Dr. P Sivakumar to spearhead the division
New Delhi, February 16, 2021: COVID Pandemic has created huge disruption to the healthcare segment globally, in general and to India, in particular. Poor allocations to healthcare historically, have brought enormous stress on the Indian Healthcare system. However, aggressive involvement by the government, private sector and the technology experts have bridged the gap significantly through innovations across various sub-sectors of healthcare. The key areas where Indian Industry and Government have jointly collaborated and achieved significant results included innovations in Medical Devices, Pharmaceuticals and more importantly COVID vaccine development in record time. Doubling of budget allocations for healthcare by the Hon. Finance Minister, Smt. Nirmala Sitaraman is a testimony to this.
Dr. Swadeep Srivastava, Founder and CEO – HEAL Health Connect Solutions says, “Indian Medical Devices Market figures in the top 20 countries globally and 4th largest in Asia. Indian Medical Devices Market is anticipated to reach INR 795 Billion by 2023 and would constitute a critical component of the healthcare industry. The Union Government through its “Make in India” initiative has encouraged entrepreneurship and has drawn a significant number of innovators and investors towards the medical device industry within the country. The major challenge faced by such entrepreneurs has been regulatory support and approvals. HEAL in collaboration with ESI Med-Tek has launched the advisory services to sail through such challenges. The “HEAL Health Med-Tech Advisory” division would not only help with tactical solutions such as device registration & approvals but also provide mentorship for a successful launch and go to market strategy.”
Dr. P. Siva Kumar, Med-Tech Advisor – ESI Med-Tek Solutions says, “India, with a population of more than 1.3 billion is a land of huge healthcare needs and a country with enormous opportunities for healthcare entrepreneurs and companies both Indian & International. The opportunities are very specific to the medical devices segment and several Multinational Companies (MNCs) are keen on entering Indian market through their innovations and solutions. While some of the major MNCs already have a significant presence in India catering to certain strata of the market. Several mid-level multinational companies also demonstrate eagerness to enter Indian market with their technologically innovative products. However, due to lack of proper understanding and guidance, a significant number of these mid-level companies are hesitant to enter the market. The Med-Tech advisory partnership with HEAL would fill this vacuum and handhold foreign companies through Indian processes to enter Indian market.”
“The biggest challenge faced by start-ups and foreign Med-Tech companies entering in India is right stakeholder engagement & communication to target consumers. In the absence of these key pillars most companies fail to make a mark for themselves. Our newly launched services would bridge this gap and ensure appropriate penetration into the market and be successful. We create credible platforms for our clients to communicate their messaging to key stakeholders including Government Agencies, Policy Makers, Health Media, the Medical & Scientific Key Opinion Leaders / Influencers, etc. As a strategic partner, we intend to accelerate business outcomes for our clients and hope that a good number of companies would enter India with their technologies and products leading to advancement in healthcare infrastructure in India”, added Dr Srivastava.
Medical Devices market in India offers promising futures for the Medical Technology companies to grow significantly. The need is Accessible, Accurate and Affordable Solutions and hence “affordable” medical devices with robust outcomes in countries with diverse populations will have a bright future. The 2021 Budget gave a great impetus to public healthcare with specific focus on preventive healthcare shows a bright future for medical devices.
Corporate Comm India (CCI Newswire)
