The healthcare industry in India is, practically speaking, a total combination of economic sectors that provide machinery and technology, goods and services to treat patients with the most advanced technology in their possession. While they are the brains that come up with the products after thorough research, they also possess the skills necessary for their commercialization. More often than not, the medical devices industries face unwarranted challenges due to the non-solidified structure of their markets. Now, this is slowly changing as most of these companies are marketing online.
A medical device is, by definition, an article, instrument, apparatus or a piece of machinery used in the diagnosis, prevention, or treatment of some illness, or for detecting or correcting the function of a physical body for some health-related issue. The medical devices generally comprise of items like catheters, stethoscopes, syringes, thermometers, gloves among various other higher order machinery that are in use in hospitals and clinics. Companies that sell items such as these barely ever face a downfall in business. This flourishing business happens following a simple reason that people get sick, they get injured, and sometimes an expert medical hand also needs assistance to make a correct judgment.
With this in mind, many professional doctors themselves take up the charge of bringing in products which would help the medical industry become more sophisticated and advanced. While they do this, they also ensure that the work motion of the hospital is not disturbed. When this happens, the judgment of these doctors should only be lauded and appreciated.
How Do Medical Devices Companies Help?
Medical device companies help the doctors by providing them with the necessary equipment and technology that could be put to use for better treatment of patients. We as laymen fail to notice or at least appreciate these products we regularly see in use in the hospitals. For example, one will easily catch an infection if the doctors don’t wear latex gloves. Or can you imagine the state of the medical institutions running without the essential instruments like an ECG or a life support system?
One can bifurcate these medical devices into two kinds. There is diagnostic medical equipment used to identify the medical situation like stethoscopes, tongue-pressers, and then there is treatment-oriented medical equipment like infusion pumps and medical lasers.
Over the years, there have been various regulations imposed upon the standard of equipment used by doctors in hospitals and clinics. These regulations only motivated the healthcare industry to make their products more sophisticated. In India, the controlling and regulatory body is the Central Drugs Standards Control Organization (CDSCO), which looks after the regulations of the pharmaceuticals and the medical devices.
Doctors Owning Successful Medical Devices Companies in India
Transasia Bio-Medicals is one of India’s leading diagnostic companies. Founded by Suresh Vazirani in 1979, it has been awarded various titles including the ‘India Medical Devices Export Company of the Year’ by the Government of India. It is the first Indian company to manufacture and export state-of-the-art equipment for analysing blood. They have been making and exporting these products plus the reagents since the 1990s.
With its principal focus on the developing countries in Africa, the Middle East, Eastern Europe, among other countries like Vietnam, and Thailand; Transasia has been successful in hoisting its flag worldwide.
Trivitron is one of the leading manufacturers of diagnostics and imaging equipment in India. They have over nine factories in more than five different locations, including Chennai, Mumbai, Pune, and Helsinki. Until 2010, they were a 100 per cent trading company, and today, a sizeable chunk of their profit and 70% of their revenue comes from the departments of manufacturing.
Founded by Dr Velu in 1997, Trivitron has acquired enterprises abroad for imbibing the technology in India. Some of these techniques are ‘point-of-care’ technology, ‘new-born’ screening, In-Vitro Diagnostics, Imaging & Radiology, Radiation Protection and Operating Room Solutions, among other things. It is only fair to say that they have engraved their name as a holistic healthcare provider on the walls of Indian medical history. They manufacture and distribute their exceptional products to 165 countries.
Polymed was conceived and established in 1995 Dr. Shalaby W. Shalaby with the motive of providing top-notch healthcare facilities. Their first manufacturing venture took shape In April 1997 at Faridabad. Now, they hold more than 140 patents in their sector. They have received the “GOLD” Patent Award, in recognition for their contribution in Medical Devices from the Pharmaceuticals Export Promotion Council of India.
Polymed, in India, has four manufacturing facilities in Haryana, Rajasthan, and Uttarakhand, and two such facilities abroad. On average, they manufacture over 3 million disposable medical devices every day, spanning more than 120 different products. Polymed, without doubt, is the largest exporter of discard-able medical devices from India, catering to more than 100 countries.
Hindustan Syringes Medical Devices (HMD) was founded in 1957 by Dr Narindra Nath and is a tightly bound family corporation. HMD was one of the first companies in the world to launch a comprehensive range of sizes of Automatically Disabling Syringes for the curative segment of the market. Currently, their primary markets include the USA, Europe, India, and the Middle East. Moreover, their secondary markets are to be found in Africa and South-East Asia. HMD has about seven plants in different places in South Asia, from where it produces medical items such as syringes, needles, I.V. cannulas, among other things.
For a layperson, the importance and validity of medical devices might go un-appreciated, even unnoticed, but without them, the whole medical construct in our society would be in a dismal state.. Doctors, after years of experience in their professional fields, come up with entrepreneurial ideas of building their own companies from scratch. These concepts and brave endeavors lead to what we know today as the flag bearers in the healthcare industry. Not mentioned above, several other manufacturers are doing their job perfectly well and have let the walls of sophisticated medical culture grow around them. Their products not only help students in the research labs but also in the hospitals, by assisting doctors to make the right diagnosis or helping them take care of the disease.
Just For Education brings you the best information on Medical Studies for India and Abroad. Just For Education is a top medical education consultant. The best medical colleges and universities for medical studies are curated and presented to you by Just For Education.