Opinion | December 20, 2021
2022: Predictions for medical and healthcare industry
2022 is going to be the year of opportunities and innovations from the medical industry in India
2022 is going to be the year of opportunities and innovations from the medical industry in India
The Indian medical devices industry has been in focus since the pandemic. From US $ 11 billion in 2020 it is expected to touch US $ 50 billion by 2025. Mehernosh Daruwalla, Founder and MD, Lotus Surgicals shares a perspective with Thomas C Thottathil on the opportunities in this sector
Betting big on talent, resources, and the ecosystem required for innovation and enterprise, Prime Minister Narendra Modi invited stakeholders to ideate in India, innovate in India and Make in India for the world
A long waiting period for critical equipment and a 50% hike in the cost of APIs imported from China are among the immediate challenges
The global CRAMS segment is expected to clock 6.2% CAGR over CY21-26E to touch US $ 170 billion
Essential medicines were made available to more than 150 countries around the world during the pandemic
The next phase of growth in pharma depends on the industry-oriented workforce, risk investment, academic revamp, and creation of R&D hubs, say experts .
Reflecting on the learning during the pandemic, industry is aiming to push innovation in R&D and implement automation and digital technologies across various operational levels.
The resilient attitude of Indian pharmaceutical companies coupled with quick innovative solutions has ensured consistency in supply chains amid unprecedented challenges
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