A common man may highly underestimate the costs involved in getting treated for a disease.  For example, a simple visit to clinic to get rid of a viral fever may cost nothing short of Rs.1000/-.  Half of this amount may go to the physician as his fee while the rest may go to the medical shop for buying medicine.  For a manual laborer working on daily wages, Rs.1000/- is a big unaffordable amount.  In the above example we are only talking about a viral fever.  Imagine if it is a life threatening disease. If it is a life threatening disease, we may have to replace the word unaffordable with ‘impossible’.  This situation is not an exaggerated situation but an everyday common scenario among the 21.2% of the estimated BPL (Below Poverty Line) population.

The government and corporate hospitals should take practical steps to bring medicine within the affordable range of this 21% population.  After all, as everyone would agree, medicine is not a luxury, it is a need.  This need unlike other basic needs such as food, clothing cannot wait for 2-3 days during emergency situations.  It requires attention that has to be immediate.  The life and death of a person depends on this need.  There is more than one way that a government can lend a helping hand to this population.  Like in every other industry, in the field of medicine, the players involved try to get benefit out of their work.  The doctors, corporate hospitals, medical equipment manufacturers and everyone else wants to earn money at the end of the day.  The overhead cost of medical equipment increases because of the different taxes involved in purchase of the raw material from the very beginning.  All these costs run into the overall cost of the final product which is levied by the manufacturer on the purchasing party.  The purchasing party could be a corporate hospital or a diagnostic lab.  Either way, once the lab or hospital purchases the equipment for a defined amount, the hospital or lab try to recover the cost of purchase from the patient.  Ultimately, the entire cost has to be borne by the patients.

medical equipment manufacturers

Government can get actively involved and can probably provide a discount on the purchase of raw materials used in the manufacture of medical equipment such that the overhead cost that goes into manufacturing is reduced and ultimately this reduction may get applied on the patient’s bill as well. On the other hand, players in the field of medicine such as diagnostic centers and corporate hospitals can also do their own bit in helping the BPL population.  They can identify ways that can reduce the overall cost of treatment and medicine.  They can actively start using refurbished medical equipment which will be a cost saving factor for them as well.

Now one may have doubts over the use of refurbished products in place of brand new products.  So, to clear all the questions in mind, let’s try to understand what refurbished products are and if they are safe to use.  According to a new market research report, the refurbished medical equipment market will be worth 11.91 billion USD by 2021.  Refurbished medical equipment is that medical equipment which received cosmetic changes to increase its appeal.  In some cases, some of the refurbished medical equipment could have received a replacement of functional part to restore its full functionality.  However, refurbished medical equipment are fully functional equipment like the original.  They are actually beneficial to the buyers in a way as they reduce the overall cost of the product.  Some of the companies may be hesitant to buy them considering the fact that cosmetic changes were made before their sale.

The refurbished GE Voluson P8 ultrasound color Doppler available online at Medventura with a minimum bid of Rs.16,00,000/- at the time of writing this article is a best example for this.  The original price of the GE Voluson P8 Ultrasound Color Doppler may run into double the minimum bid mentioned above.  However, we are getting a fully functional equipment for half of the original price.  Adopting strategies such as buying of refurbished medical equipment will reduce the overhead costs of medical labs and corporate hospitals as well.  Whatever saving the medical lab or corporate hospital is able to make, they can pass it on to BPL patients by providing them discount in the medical treatment or medicines.

REFURBISED ULTRASOUND
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Internet has made tremendous changes in our lives.  What sounded like ‘impossible’ and ‘unimaginable’ a few decades back seem to be practical and common in our everyday lives.  A person without the need to step out of his home can perform all of his daily activities and lead a happy life.  He can earn livelihood without stepping out of his house through internet.  He can purchase groceries online from the nearest departmental store and have them delivered to his house address or he also has the choice of ordering readymade food.  He can watch movies sitting at home.  He can have a video chat with his friends located in a different part of the world altogether.  All the above at the comfort of home.  As if to prove that such a lifestyle is possible and practical, we can find large section of people every now and then who are leading such lifestyle.
Now most of us are already aware of the traditional selling where we go to a departmental store, browse through the products, pick the ones that suit our needs, reach the counter and pay money to own the products.  However, with the advent of internet, large section of the world population is bidding goodbye to traditional shopping and they are stepping towards online shopping. Also, called as e-commerce a shorter name for electronic commerce, online shopping is nothing but purchase of goods with the help of internet.  An individual is not required to visit a departmental or for that matter any physical store to make a purchase.  He/she can access the website of the vendor, review or browse through the virtual product catalogue, select the items that he intends to buy, add them to the cart, pay the bill and checkout.  The items would get delivered to his address of preference within 2-3 days.  This way of online shopping not only saves money but also great deal of time and energy

A picture speaks a thousand words

The first and foremost thing that one needs to keep in mind while selling anything online is the visual factor. Customer is deprived of the look and feel of the actual product when it comes to online sale. Buyers need to fill this gap. So, how do buyers fill this gap? It is a simple task. They need to take pictures of the medical equipment with the help of a high resolution camera that can capture even the minutest detail of the equipment. Hiring a professional photographer or buying high resolution product images online is a good alternate. The images of 2000 Siemens .2T MAGNETOM Concerto placed on Medventura, a unique platform to buy, bid and sell medical equipment is an excellent example for this. The image of the product is not only clearly visible but also gives enough details of the product.
Product Details:
Another important factor is being proactive in providing all the product related information.  Products, especially in the medical field can have various details.  For example, take the case of Ultrasound transducer.  There could be many different types of ultrasound transducers such as linear, sector and convex.  They could also differ in their construction based on piezoelectric crystal arrangement, aperture and operating frequency.  Hence, the image of the product needs to be backed up with more than sufficient details.  Consumer or buyer should not be kept in a situation where he needs to come back to us asking for information.  Making him come back will not only decrease his interest in buying the product but there is a high probability of him not buying the product at all.
Communicate:
Finally, once the product is listed with image and description, leave your contact details and make yourself available to receive any enquiries from prospective buyers. Talk to the buyers patiently and answer all their queries.  Keeping an open communication channel will not only help the buyers clear all their queries but may lead to an actual sale within no time.
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Medical equipment also known as armamentarium. its is designed to aid in the diagnosis, monitoring or treatment of medical conditions. The development of new advance featured medical equipment helps a patient to easily recover from their disease.
Some of the most commonly used pieces of diagnostic equipment include MRI, ultrasound machines, PET scanners (which use cameras and tracer fluid to produce images of a patient’s internal organs in order to detect signs of cancer or other diseases), CT scanners (which use x-ray sand dye to do the same job as PET scanner)

There are Several Basic Types of Hospital Medical Equipment are :

There are more than 10,000 types of medical devices available. Life support medical equipment is used to maintain a patient’s bodily function. This includes medical ventilators, incubators, anaesthetic machines, heart-lung machines, ECMO, and dialysis machines.

Medical monitors allow medical staff to measure a patient’s medical state. Monitors may measure patient vital signs and other parameters including ECG, EEG, and blood pressure.

Laboratory Medical equipment automates or helps analyze blood, urine, genes, and dissolved gases in the blood.

Diagnostic Medical Equipment  may also be used in the home for certain purposes, e.g. for the control of diabetes mellitus

Therapeutic: physical therapy machines like continuous passive range of motion (CPM) machines

A bio medical equipment technician (BMET) is a vital component of the healthcare delivery system. Employed primarily by hospitals, BMETs are the people responsible for maintaining a facility’s medical equipment. BMET mainly act as an interface between doctor and equipment.

Medical Diagnosis & Medical Equipment

Medical diagnosisMedical diagnosis is the process of determining which disease or condition explains a person’s symptoms and signs. It is most often referred to as diagnosis with the medical context being implicit. The information required for diagnosis is typically collected from a history and physical examination of the person seeking medical care. Often, one or more diagnostic procedures, such as diagnostic tests, are also done during the process. Sometimes Posthumous diagnosis is considered a kind of medical diagnosisMedical equipment is designed to aid in the diagnosis, monitoring or treatment of medical conditions. The development of new advance featured medical equipment helps a patient to easily recover from their disease.

1. Medical imaging : Medical imaging is the technique and process of creating visual representations of the interior of a body for clinical analysis and medical intervention, as well as visual representation of the function of some organs or tissues (physiology). Medical imaging seeks to reveal internal structures hidden by the skin and bones, as well as to diagnose and treat disease. Medical imaging also establishes a database of normal anatomy and physiology to make it possible to identify abnormalities. Although imaging of removed organs and tissues can be performed for medical reasons, such procedures are usually considered part of pathology instead of medical imaging.

2. Medical ultrasound : (also known as diagnostic sonography or ultrasonography) is a diagnostic imaging technique based on the application of ultrasound. It is used to see internal body structures such as tendons, muscles, joints, vessels and internal organs. Its aim is often to find a source of a disease or to exclude any pathology. The practice of examining pregnant women using ultrasound is called obstetric ultrasound, and is widely used.

Ultrasound is sound waves with frequencies which are higher than those audible to humans (>20,000 Hz). Ultrasonic images also known as sonograms are made by sending pulses of ultrasound into tissue using a probe. The sound echoes off the tissue; with different tissues reflecting varying degrees of sound. These echoes are recorded and displayed as an image to the operator.

Many different types of images can be formed using sonographic instruments. The most well-known type is a B-mode image, which displays the acoustic impedance of a two-dimensional cross-section of tissue. Other types of image can display blood flow, motion of tissue over time, the location of blood, the presence of specific molecules, the stiffness of tissue, or the anatomy of a three-dimensional region.

Compared to other prominent methods of medical imaging, ultrasound has several advantages. It provides images in real-time, it is portable and can be brought to the bedside, it is substantially lower in cost, and it does not use harmful ionising radiation. Drawbacks of ultrasonography include various limits on its field of view including patient cooperation and physique, difficulty imaging structures behind bone and air, and its dependence on a skilled operator.

3. Magnetic resonance imaging (MRI) :- Magnetic resonance imaging (MRI) is a medical imaging technique used in radiology to form pictures of the anatomy and the physiological processes of the body in both health and disease. MRI scanners use strong magnetic fields, radio waves, and field gradients to generate images of the inside of the body.

MRI does not involve x-rays, which distinguishes it from computed tomography (CT or CAT). While the hazards of x-rays are now well-controlled in most medical contexts, MRI can still be seen as superior to CT in this regard. MRI can often yield different diagnostic information compared with CT. There can be risks and discomfort associated with MRI scans. Compared with CT, MRI scans typically: take more time, are louder, and usually require that the subject go into a narrow tube. In addition, people with some medical implants or other non-removable metal inside the body may be unable to safely undergo an MRI examination.

MRI is based upon the science of nuclear magnetic resonance (NMR). Certain atomic nuclei can absorb and emit radio frequency energy when placed in an external magnetic field. In clinical and research MRI, hydrogen atoms are most-often used to generate a detectable radio-frequency signal that is received by antennas in close proximity to the anatomy being examined. Hydrogen atoms exist naturally in people and other biological organisms in abundance, particularly in water and fat. For this reason, most MRI scans essentially map the location of water and fat in the body. Pulses of radio waves excite the nuclear spin energy transition, and magnetic field gradients localise the signal in space. By varying the parameters of the pulse sequence, different contrasts can be generated between tissues based on the relaxation properties of the hydrogen atoms therein. Since its early development in the 1970s and 1980s, MRI has proven to be a highly versatile imaging technique. While MRI is most prominently used in diagnostic medicine and biomedical research, it can also be used to form images of non-living objects. MRI scans are capable of producing a variety of chemical and physical data, in addition to detailed spatial images.

Positron emission tomography (PET) : is a nuclear medicine, functional imaging technique that is used to observe metabolic processes in the body. The system detects pairs of gamma rays emitted indirectly by a positron-emitting radionuclide (tracer), which is introduced into the body on a biologically active molecule. Three-dimensional images of tracer concentration within the body are then constructed by computer analysis. In modern PET-CT scanners, three dimensional imaging is often accomplished with the aid of a CT X-ray scan performed on the patient during the same session, in the same machine.

If the biologically active molecule chosen for PET is fludeoxy glucose (FDG), an analogue of glucose, the concentrations of tracer imaged will indicate tissue metabolic activity as it corresponds to the regional glucose uptake. Use of this tracer to explore the possibility of cancer metastasis (i.e., spreading to other sites) is the most common type of PET scan in standard medical care (90% of current scans). However, although on a minority basis, many other radioactive tracers are used in PET to image the tissue concentration of other types of molecules of interest. One of the disadvantages of PET scanners is their operating cost.

4. CT scan : A CT scan (often referred to as a CAT scan) makes use of computer-processed combinations of many X-ray images taken from different angles to produce cross-sectional (tomographic) images of specific areas of a scanned object, allowing the user to see inside the object without cutting.

Medical Equipment : Digital geometry processing is used to generate a three-dimensional image of the inside of the object from a large series of two-dimensional radio-graphic images taken around a single axis of rotation. Medical imaging is the most common application of X-ray CT. Its cross-sectional images are used for diagnostic and therapeutic purposes in various medical disciplines. The rest of this article discusses medical-imaging X-ray CT; industrial applications of X-ray CT are discussed at industrial computed tomography scanning.

The term “computed tomography” (CT) is often used to refer to X-ray CT, because it is the most commonly known form. But, many other types of CT exist, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT). Older and less preferred terms that also refer to X-ray CT are computed axial tomography (CAT scan) and computer aided tomography. X-ray tomography is one form of radiography, along with many other forms of tomographic and non-tomographic radiography.

CT produces a volume of data that can be manipulated in order to demonstrate various bodily structures based on their ability to block the X-ray beam. Although, historically, the images generated were in the axial or transverse plane, perpendicular to the long axis of the body, modern scanners allow this volume of data to be reformatted in various planes or even as volumetric (3D) representations of structures. Although most common in medicine, Medical equipment like CT scanner is also used in other fields, such as nondestructive materials testing. Another example is archaeological uses such as imaging the contents of sarcophagi. Individuals responsible for performing CT exams are called radiographers or radiologic technologists

5. X-ray generator : An X-ray generator is a device that produces X-rays. It is commonly used in a variety of applications including medicine, fluorescence, electronic assembly inspection, and measurement of material thickness in manufacturing operations. In medical applications, X-ray generators are used by radiographers to acquire x-ray images of the internal structures (e.g., bones) of living organisms, and also in sterilization.

Treatment medical equipment : includes infusion pumps, medical lasers and LASIK surgical machines.

1.Infusion pump : An infusion pump infuses fluids, medication or nutrients into a patient’s circulatory system. It is generally used intravenously, although subcutaneous, arterial and epidural infusions are occasionally used.

Infusion pumps can administer fluids in ways that would be impractically expensive or unreliable if performed manually by nursing staff. For example, they can administer as little as 0.1 ml per hour injections (too small for a drip), injections every minute, injections with repeated boluses requested by the patient, up to maximum number per hour (e.g. in patient-controlled analgesia), or fluids whose volumes vary by the time of day.

Because they can also produce quite high but controlled pressures, they can inject controlled amounts of fluids subcutaneously (beneath the skin), or epidurally (just within the surface of the central nervous system – a very popular local spinal anaesthesia for childbirth).

2. Laser : A laser is a device that emits light through a process of optical amplification based on the stimulated emission of electromagnetic radiation. The term “laser” originated as an acronym for “light amplification by stimulated emission of radiation”. The first laser was built in 1960 by Theodore H. Maiman at Hughes Research Laboratories, based on theoretical work by Charles Hard Townes and Arthur Leonard Schawlow. A laser differs from other sources of light in that it emits light coherently. Spatial coherence allows a laser to be focused to a tight spot, enabling applications such as laser cutting and lithography. Spatial coherence also allows a laser beam to stay narrow over great distances (collimation), enabling applications such as laser pointers. Lasers can also have high temporal coherence, which allows them to emit light with a very narrow spectrum, i.e., they can emit a single colour of light. Temporal coherence can be used to produce pulses of light as short as a fem to second.

Among their many applications, lasers are used in optical disk drives, laser printers, and bar code scanners; DNA sequencing instruments, fiber-optic and free-space optical communication; laser surgery and skin treatments; cutting and welding materials; military and law enforcement devices for marking targets and measuring range and speed; and laser lighting displays in entertainment.

3. LASIK : LASIK or Lasik (laser-assisted in situ keratomileusis), commonly referred to as laser eye surgery or laser vision correction, is a type of refractive surgery for the correction of myopia, hyperopia, and astigmatism. The LASIK surgery is performed by an ophthalmologist who uses a laser or microkeratome to reshape the eye’s cornea in order to improve visual acuity. For most patients, LASIK provides a permanent alternative to eyeglasses or contact lenses.

LASIK is most similar to another surgical corrective procedure, photorefractive keratectomy (PRK), and both represent advances over radial keratotomy in the surgical treatment of refractive errors of vision. For patients with moderate to high myopia or thin corneas which cannot be treated with LASIK and PRK, the phakic intraocular lens is an alternative. As of 2011, over 11 million LASIK procedures had been performed in the United States and as of 2009 over 28 million have been performed worldwide.

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Strong growth in healthcare expenditure

  • Healthcare industry is growing at a tremendous pace owing to its strengthening coverage,Healthcare Industry in India services and increasing expenditure by public as well private players.
  • During 2008-20, the market is expected to record a CAGR of 16.5 per cent.
  • The total industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020.
  • As per the Ministry of Health, development of 50 technologies has been targeted in the FY16, for the treatment of disease like Cancer and TB.

Healthcare has become one of India’s largest sectors – both in terms of revenue and employment. Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, tele medicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.

Indian healthcare delivery system is categorised into two major components – public and private. The Government, i.e. public healthcare system comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of primary healthcare centres (PHCs) in rural areas. The private sector provides majority of secondary, tertiary and quaternary care institutions with a major concentration in metros, tier I and tier II cities.

India’s competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe.

Market Size

The overall Indian healthcare market is worth around US$ 100 billion and is expected to grow to US$ 280 billion by 2020, a Compound Annual Growth Rate (CAGR) of 22.9 per cent. Healthcare delivery, which includes hospitals, nursing homes and diagnostics centres, and pharmaceuticals, constitutes 65 per cent of the overall market. The Healthcare Information Technology (IT) market which is valued at US$ 1 billion currently is expected to grow 1.5 times by 2020.#

Deloitte Touche Tohmatsu India has predicted that with increased digital adoption, the Indian healthcare market, which is worth around US$ 100 billion, will likely grow at a CAGR of 23 per cent to US$ 280 billion by 2020.

Over 80 per cent of the antiretroviral drugs used globally to combat AIDS (Acquired Immuno Deficiency Syndrome) are supplied by Indian pharmaceutical firms^.

There is a significant scope for enhancing healthcare services considering that healthcare spending as a percentage of Gross Domestic Product (GDP) is rising. Rural India, which accounts for over 70 per cent of the population, is set to emerge as a potential demand source.

India requires 600,000 to 700,000 additional beds over the next five to six years, indicative of an investment opportunity of US$ 25-30 billion. Given this demand for capital, the number of transactions in the healthcare space is expected to witness an increase in near future. The average investment size by private equity funds in healthcare chains has already increased to US$ 20-30 million from US$ 5-15 million##.

A total of 3,598 hospitals and 25,723 dispensaries across the country offer AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) treatment, thus ensuring availability of alternative medicine and treatment to the people.

The Indian medical tourism industry is pegged at US$ 3 billion per annum, with tourist arrivals estimated at 230,000. The Indian medical tourism industry is expected to reach US$ 6 billion by 2018, with the number of people arriving in the country for medical treatment set to double over the next four years. With greater number of hospitals getting accredited and receiving recognition, and greater awareness on the need to develop their quality to meet international standards, Kerala aims to become India’s healthcare hub in five years.

Investments

The hospital and diagnostic centres attracted Foreign Direct Investment (FDI) worth US$ 3.59 billion between April 2000 and March 2016, according to data released by the Department of Industrial Policy and Promotion (DIPP).

Some of the major investments in the Indian healthcare industry & medical equipment are as follows:

  • Cisco Systems Inc has entered into an agreement with Bengaluru-based healthcare services provider Narayana Health, to deliver affordable specialty healthcare services to patients remotely in various parts of the country using its Virtual Expertise Digital Solution.
  • TPG Growth, the growth equity investment platform of TPG Global, has acquired a majority stake in Rhea Healthcare, which runs a chain of mother and child care centres under the brand Motherhood, for Rs 220 crore (US$ 33 million).
  • CureFit, a healthcare platform started by has raised US$ 15 million from Accel Partners, IDG Ventures and Kalaari Capital on the day of its inception.
  • Aster DM Healthcare, one of the leading healthcare group headquartered in Dubai, plans to invest Rs 600 crore (US$ 88.94 million) in various Kerala-based healthcare projects over the next three years.
  • Aster DM Healthcare, a Dubai-based healthcare conglomerate, has acquired 25 per cent stake in Ramesh Hospitals, a multispecialty chain headquartered in Vijayawada, in a deal worth Rs 110 crore (US$ 16.31 million).
  • AddressHealth, a primary healthcare network, has raised US$ 1.5 million in series A round of funding led by Gray Matters Capital, which will be used to expand its model of school-based neighbourhood clinics and school health programmes in Bengaluru.
  • PurpleHealth.com, a digital health and wellness platform, which aims to provide a seamless interface to consumers to choose medical practitioners, has raised US$ 100,000 from technology investor Katabole Technology Venture.
  • Versante Software Technologies, an Indian subsidiary of US-based IT consulting and software engineering services company Versante Technologies LLC, is in the process of raising US$ 1 million in its first round of external funding by March 2016, the proceeds of which would be used for initial promotion, and pan-India marketing and distribution of hand-held and portable patient care devices.
  • Abraaj Group, a Dubai based Private Equity (PE) investor, is set to buy a majority stake in an Indian firm Quality CARE India Ltd, which runs CARE Hospitals.
  • Qatar-based Non-resident Indian’s (NRI) including medical professionals and businessmen, are planning to set up a huge world-class healthcare project in Kochi worth Rs 1,300 crore (US$ 192.71 million)
  • American multinational technology and consulting corporation, IBM has announced that Manipal Hospitals’ corporate and teaching facilities will adopt ‘Watson for Oncology’, a cognitive computing platform trained by Memorial Sloan-Kettering that analyses data to identify evidence-based treatment options, helping oncologists to provide cancer patients with individualised healthcare.
  • Apollo Hospitals Enterprise (AHEL) plans to add another 2,000 beds over the next two financial years, at a cost of around Rs 1,500 crore (US$ 222.36 million).
  • Malaysia-based IHH Healthcare Berhad has agreed to buy 73.4 per cent stake in Global Hospitals Group, India’s fourth-largest healthcare network, for Rs 1,284 crore US$ 192.84 million.
  • Temasek Holdings Pte Limited acquired the entire 17.74 per cent stake of Punj Lloyd Limited in Global Health Private Limited, which owns and operates the Medanta Super Specialty Hospital in Gurgaon.
  • CDC, a UK based development finance institution, invested US$ 48 million in Narayana Hrudayalaya, a multi-speciality healthcare provider. With this investment, Narayana Health will expand affordable treatment in eastern, central and western India.
  • Apollo Health and Lifestyle Limited (AHLL), a wholly-owned subsidiary of Apollo Hospitals Enterprise, acquired Nova Specialty Hospitals at an estimated cost of Rs 135-145 crore (US$ 20-21 million).
  • IHH Healthcare Berhad acquired a controlling 51 per cent equity stake in Hyderabad-based Continental Hospitals Limited for about approximately US$ 45.4 million.
  • Sanofi-Synthelabo (India) Limited invested Rs 90 crore (US$ 13.34 million) in Apollo Sugar Clinics Limited (ASCL), a unit of its subsidiary Apollo Health and Lifestyle Limited.
  • Carlyle Group acquired a stake in Metropolis Healthcare Limited, an operator of pathology laboratories in India, for an undisclosed sum.
  • San Francisco-based Fitbit Inc., a fitness-tracking device maker, has launched its fitness wristbands across 300 towns in India and expects the country to be among its top five markets in next two years.
  • Home healthcare service provider Portea Medical has raised Rs 247 crore (US$ 36.62 million) in Series-B funding from investors including Accel Partners, International Finance Corporation, Qualcomm Ventures and Ventureast.
  • Practo Technologies Pvt. Ltd, India’s largest online doctor discovery company, has acquired hospital information management solution provider Insta Health Solutions for US$ 12 million which will help Practo get access to more than 500 hospitals across 15 countries.
  • Attune Technologies Private Limited, a Chennai-based healthcare technology firm, has raised US$ 10 million in a Series B funding from Qualcomm Ventures and Norwest Venture Partners in order to expand its digital healthcare solutions from the current 200 hospitals and laboratories to 25,000 such facilities globally.
  • Pluss, a Gurgaon based on-demand medicine and healthcare products delivery service start-up, has raised US$ 1 million in pre-Series A funding from IDG Ventures, India; M & S partners, Singapore and Powerhouse Ventures, US. The company would use the funding to upgrade its technology and expand presence in five cities.

Government Initiatives

India’s universal health plan that aims to offer guaranteed benefits to a sixth of the world’s population will cost an estimated Rs 1.6 trillion (US$ 23.72 billion) over the next four years.

Some of the major initiatives taken by the Government of India to promote Indian healthcare industry are as follows:

  • The government has announced that 3,000 Jan Aushadhi Stores (JAS) will be opened under Pradhan Mantri Jan Aushadhi Yojana (PMJAY) across the country by the end of March 2017.
  • The Ministry of Science & Technology has launched the innovative and indigenously developed fecal incontinence management system ‘Qora’, which was developed by M/s. Consure Medical under Department of Biotechnology (DBT), Ministry of Science & Technology supported Bio design Programme.
  • The Union Cabinet has approved signing of an agreement with the World Health Organisation (WHO) under which WHO will develop technical documents on traditional medicines and medical equipment which is expected to lead to better acceptance of Indian systems of medicines at an international level.
  • The NITI Aayog (National Institute for Transforming India) seeks to bring reforms in India’s public health system like outsourcing primary healthcare to private doctors and promoting competition between government and private hospitals at the secondary level.
  • Provisions made in the Union Budget 2016-17:
  • National Dialysis Services Programme to be initiated to provide dialysis services in all district hospitals to accommodate the increasing demand for dialysis session
  • A new health protection scheme for health-cover up to Rs 1 lakh (US$ 1,504) per family.
  • Setting up 3,000 medical stores across the country to provide quality medicines at affordable prices.
  • Senior citizens will get additional healthcare cover of Rs 30,000 (US$ 441) under the new scheme
  • Pradhan Mantri Jan Aushadhi Yojana to be strengthened, 3000 generic drug store to be opened
  • Government of West Bengal has introduced G1 Digital Dispensary, which aims to provide people from rural areas access to primary healthcare services.
  • A unique initiative for healthcare ‘Sehat’ (Social Endeavour for Health and Telemedicine) has been launched at a government run Common Service Centre (CSC) to empower rural citizens by providing access to information, knowledge, skills and other services in various sectors through the intervention of digital technologies and fulfilling the vision of a ‘Digital India’.
  • India and Sweden celebrated five years of Memorandum of Understanding (MoU). The cooperation in healthcare between India and Sweden will help in filling gaps in research and innovative technology to aid provisioning of quality healthcare.
  • Mr J P Nadda, Union Minister for Health & Family Welfare, Government of India has launched the National Deworming initiative aimed to protect more than 24 crore children in the ages of 1-19 years from intestinal worms, on the eve of the National Deworming Day.
  • Under the National Health Assurance Mission, Prime Minister Mr Narendra Modi’s government would provide all citizens with free drugs and diagnostic treatment, as well as insurance cover to treat serious ailments.
  • All the government hospitals in Andhra Pradesh would get a facelift with a cost of Rs 45 crore (US$ 6.67 million), besides the establishment of 1,000 generic medical shops across the State in the next few months.
  • ission Indradhanush launched by Mr JP Nadda aims to immunise children against seven vaccine preventable diseases namely diphtheria, whooping cough, tetanus, polio, tuberculosis, measles and hepatitis B by 2020. Government has set a target of 95 per cent immunisation cover by end of 2016.
  • The E-health initiative, which is a part of Digital India drive launched by Prime Minister Mr Narendra Modi, aims at providing effective and economical healthcare services to all citizens. The programme aims to make use of technology and portals to facilitate people maintain health records and book online appointments with various departments of different hospitals using eKYC data of Aadhaar number.

Road Ahead

India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of population. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep.

India’s competitive advantage also lies in the increased success rate of Indian companies in getting Abbreviated New Drug Application (ANDA) approvals. India also offers vast opportunities in R&D as well as medical tourism. To sum up, there are vast opportunities for investment in healthcare infrastructure in both urban and rural India.

Exchange Rate Used: INR 1 = US$ 0.0149 as on September 27, 2016

References: Department of Industrial Policy and Promotion (DIPP), RNCOS Reports, Media Reports, Press Information Bureau (PIB), Union Budget 2016-17

Note: # – as per National Association of Software and Services Companies (NASSCOM), ## – as per PriceWaterHouseCoopers, ^ – According to Mr J P Nadda, Minister of Health and Family Welfare

Source : ibef

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