Wednesday, May 21, 2014

India is a promising frontier for medical devices

In a recent article at Med Device Online, they looked at why medical devices could be a promising venture in India.  It's one of the last BRIC countries and is currently poorly understood by most medical device companies.

Authors Gunjan Bagla and Rajnish Rohatgi of Amritt Inc.outlined four trends that are showing why the country is becoming more appealing to any device manufacturer and distributor:
  1. 1) The medical coverage in the country is becoming more available to the general public. They can now accesses these life changing devices.
  2. 2) With the increase of funding and knowledge, many hospitals are now demanding more technology to better suit their patients needs.
  3. 3) Federal funding of healthcare in the nation is increasing. With more money comes more opportunities for breakthrough technology to happen in the hospitals.  
  4. 4) Not only is public funding increasing, but private funding of healthcare is on the rise as well.  New, large hospitals prime for innovation are being funded.
Could India be a great place to send your medical device clinical trials?  With more hospitals and doctors demanding better technology and innovation in the care of their patients, for the right company, the country could be a great match.  This June at the Partnerships in Medical Device Clinical Trials event, we'll have Jennifer Dugan, Manager, Clinical Research, Stryker Orthopedics on hand to present Lessons Learned from Pharma/Biotech Outsourcing: Insights for Device Companies - which could benefit anyone thinking of outsourcing their clinical trials to India.  Want to know more about this session and the rest of the program? Download the agenda.  Would you like to join us June 3-4 in Chicago?  As a reader of this blog, when you register to join us and mention code XP1903BLOG, you'll save $100 off the current rate!

What would be some of the benefits to outsourcing your medical device clinical trails to India?

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