“Local Healthcare R&D:The Need of the Hour ” Pulse of the Biomedical Market

What should Biomedical Engineering Students do now. They are busy in making projects which have long names but only little bit of innovation which serves the cause of improving healthcare. If this is the case . How will the technology develop?

What the Industry is looking after now?

What shall a Biomedical Engineer do to get good jobs?

How does one win over emerging markets like Asia? This is an inevitable question asked by most leaders of medical device companies who are planning growth strategies. Let’s try answering it. Like any market, emerging markets want product innovations relevant to their local healthcare needs. Local experience is an essential aspect for achieving this.

The secret to tap fast growing and rapidly evolving emerging markets is to anticipate changes wanted by the local consumers and to focus your organisation’s might into building localised solutions to address those needs. A local partner can help medical device companies navigate local healthcare pitfalls and challenges, understand region- and race-specific disease isolations, network with local healthcare providers and map geo-specific regulatory challenges, helping build a better product for the local market faster.

Designing localised medical device solutions

In India, the biggest obstacles faced by the healthcare industry are accessibility, affordability and availability. Considering that a significant population in India resides in rural areas with limited access to healthcare providers, a local partner can help foresee and estimate the growing demand for remote patient monitoring devices and help medical device companies build integrated healthcare solutions for this market.

Maestros Mediline, a publicly-listed firm based in Mumbai that designs diagnostic and patient monitoring devices, did exactly that. They partnered with Research in Motion (RIM), the makers of BlackBerry phones, and mobile service provider Vodafone to launch a healthcare application for Indian markets. Together, they built a mobile electrocardiogram (ECG) application called eUNO-R10 for BlackBerry smartphones in India. A portable monitor with wearable wrist electrodes records the user’s ECG and instantly sends the data to doctors via telephone, Internet or GSM mobile networks. This application reduced the time lag for access to emergency healthcare in the event of cardiac attacks. Maestros Mediline’s local knowledge helped to develop this innovative formula.

Today, engineering R&D services partners are becoming an extended R&D arm for medical device companies looking at increasing their market share in developing nations. In today’s era of reverse innovation, where innovation is seen first in the emerging markets and then in developed markets, the contribution of these local partners is only expected to increase.

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