R&D key for Indian medical devices sector's growth

Updated on: Wednesday, August 10, 2011

A two-day international Indo-Japanese conference on "futuristic science", began here to discuss recent advances in science and technology and its transfer between the two countries.

Speaking at the conference, co-sponsored by Government of Japan, a leading biomedical technology scientist said Indian medical devices industry needed to work towards knowledge-based growth to achieve more global competence and acceptance.

Public supported research and development were required for promotion of this industry and universities and academic institutions had great opportunities to contribute for its growth, said Dr G S Bhuvaneshwar, Head, Biomedical Technology (BMT), Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) here.

"Very little R&D, lack of trained manpower and non- availability of information are some of the factors affecting the growth of Indian medical device industry," he told an Indo-Japanese conference on "futuristic science".

The market for medical devices in India was estimated at Rs 15,000 crore per year with a growth rate of 15 per cent but the country's share in the USD 250 billion global market was comparatively insignificant.

Lack of 'test facilities' and the absence of a 'regulatory mechanism' also contribute to domestic industry's poor performance, he added.

Over 150 participants including scientists and researchers from India and Japan are participating in the two-day conference organised by Indian JSPS (Japan Society for Promotion of Science) Alumni Association.

Toru Maekawa from Toyo University said his institution was planning to expand its tie-ups with more science institutes and technical organisations in India. The university already had collaboration with IIT-Delhi.

R&D key for Indian medical devices sector's growth

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