Medical device market growth:
The Medical device market looks positive and shows steady growth. Be a part of huge and growing medical device market. The medical device market has been encountering remarkable development throughout the course of recent years. Be that as it may, very much like in some other industry, it is additionally confronted with difficulties and disturbances for various reasons. These difficulties slow the rate at which businesses are working, from the store network to monetary assumptions. India is among top 20 markets for medical device manufacturing, this sector expects growth of US$50 billion by 2025. We help medical device manufacturer in setting up plant, layout design and regulatory guidance. we study the client’s requirement, product details, clean room classification requirement and help them layout design to meet national as well as international cGMP requirements. We are ISO13485 medical device consultant, also we do CDSCO registration, we assist medical device manufacturer in medical device design and development and provides medical device process validation to manufacturers.
Role of medical devices in market:
Earlier medical device industry was in nascent stage. Today medical device industry is rapidly growing The growth of the sector is impeccable; the factors responsible for this growth can be the rapid technology innovation, regulatory updates and governments initiatives. These factors play a vital role to blossom the industry .The medical device market is experiencing huge growth from the past few years, which opens up some opportunities and challenges. So huge market is opened for manufacturing the medical devices. The government of India taking so many initiatives for the growth of the sector.
- Operon strategist assist in manufacturering plant layout design. To know more on regulatory framework you can contact us or whatsapp us
Role of medical devices market:
- Screening/diagnosing
- Monitoring
- Treatment
Current government having special emphasis on research and development in healthcare industry. As per the data from various sources, India is heavily dependent on import nearly more than 75% import dependency India has and to reduce the import dependency government has taken few initiatives like setting up medical park, new institutions with the experts to become self reliant
Top Challenges for the medical device market :
Medical devices plays a crucial role in screening, and diagnosing; for the better treatment we need better quality medical devices. Major challenge for the sector is to produce cost competitive and quality product .Current government is very enthusiastic for taking initiatives for Atmnirbhar- Bharat i.e self-reliant India . As pandemic hits to all sectors, healthcare sector also facing major changes, this situation showed us that how much we are dependant on import for the medical devices. Government along with the medical device manufacturer is working hard to make India Atmanirbhar and cut down the import ratio. To make this happen we need to overcome some roadblocks.
Changes in the global environment burdened the medical device companies to higher cost which result into little gain. It becomes challenging for Medical device manufacturer to keep an eye on updated regulations and changed policies as government along with the national regulatory bodies more often make changes to guidelines for the betterment of the citizens. In addition to this counterfeit devices capturing the market. Some portion of the market is already captured by counterfeit devices ,the low quality and cheaper product can harm the patients life and can lose the trust of the buyers in industry .this is one of the big challenge for the industry from risk perspective. Apart from this healthcare industry while manufacturing medical device deals with the challenges like adequate infrastructure and cost of product. As the pandemic hits global market supply chain disrupted and rest things impacted badly. The industry is still facing some problem with raw material shortage ,supply chain disturbance and transport delays. At present gap has been seen in current demand and supply of medical devices which shows that there are huge opportunities in the field of medical device manufacturing sector. Despite of all challenges and hurdles the sector is moving ahead with the so many opportunities
Opportunities in Medical device Market :
At present the manufacturer are trying to tap the huge market and bridge the gap and enthusiastic to in cash the opportunities. The Covid- 19 pandemic crisis has shown us such hard time, majorly sectors impacted badly though the fact is this situation created opportunities which were unexplored before .The data available on various sources shows the production of ventilator went up from 8 to 17, mask manufacturers from 30 to 108, swab manufacturers from 0 to 5, sanitizer manufacturers from 35 to 49 and RT PCR kit manufacturers .The chronic diseases like Diabetics, coronary heart diseases results in increasing healthcare services. Many MNC’s are entering to the Indian market for manufacturing, research and development; Foreign medical device manufacturer are taking interest in expanding their wings to India due to population & favourable regulatory climate.
Whether you\’re a new business or a legacy enterprise, now is the ideal opportunity to refine your methodology and remain in front of the steadily changing advanced wellbeing innovations. What are your objectives for 2022? Assuming you\’re prepared to figure out these difficulties and jump all over the chance, partnering with the team like Operon strategist can lead you cooperating with a group of pioneers in the MedTech space is your best course of action.
Operon strategist is a medical device consultancy providing all medical device regulatory guidance to their clients so that they can have the best results
