The Indian healthcare industry has shown steep incremental growth over the past ten years. The nation is now considered in a favorable position for outsourced design-led production of medical solutions, contract design, development, and production of medical devices, because of its emphasis on design-to-cost, and of course, its robust manufacturing environment is an added advantage. Here are five factors that make India an excellent location for producing medical equipment.
Presence of the qualified personnel
A qualified and experienced crew is also needed to develop and construct high-performance equipment. India has one of the largest engineering workforces, who have a wide range of skills, including proven domain expertise, understanding of the product lifecycle, familiarity with developing design and technical tools, and awareness of current manufacturing challenges and the specialized technologies to address them.
Government programs and assistance for the medical technology sector
The manufacturing sector in India is being sported & strengthened by various government-led programs such as Make in India, special policies and programs were introduced that end up having simpler to collaborate with Indian producers, shifting the government's image from one of a regulator to one of a facilitator. The Goods and Services Tax (GST), a single national tax structure, supports the country's medical device manufacturing industry.
Additionally, the Indian government has given the go-ahead for establishing medical device parks in Telangana, Andhra Pradesh, Tamil Nadu, and Kerala to provide a plug-and-play framework for businesses wishing to establish manufacturing operations in India. These specialized hubs will also make it simple to access facilities for routine testing and lower the price of manufacturing devices. A National Medical Device Authority (NMDA) is also being proposed, which will enhance manufacturing procedures, regulate quality, control costs, and aid in creating medical device parks; this will encourage the subcontinent to produce more medical devices.
Due to cheaper labor and raw material costs, India offers significant cost advantages for the production of medical devices. India is in a strong position to utilize complicated, miniaturized, linked, and advanced materials that call for sophisticated production processes because of its advances in implementing new engineering technology.
Data security and sensitivity to intellectual property rights
Indian engineering companies have established themselves as reputable outsourcing partners with a global presence thanks to their thorough contracts describing data protection and security. The operating policies are in line with international standards, and system methods utilized in the manufacturing of medical devices are subject to routine audits. To stop data theft and cyberattacks, the majority of these firms have strong, multilayer security measures in place. Top manufacturing engineering businesses follow industry standards for the hygiene, including nondisclosure agreements, biometric access, server scans for penetration testing, VPN tunnels, encrypted computing devices, and powerful firewalls. To comply with TRIPS regulations, India revised its Patents Act of 1970 and signed the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement. This entails the granting of pharmaceutical and medical device product patents.
A strong ecosystem that supports the production
The adoption of machine learning augmented reality/virtual reality, autonomous robotics, and other smart manufacturing technologies has increased. Shop floors in manufacturing facilities are becoming more innovative, productive, and safe. Productivity can increase by utilizing proactive maintenance plans to enhance equipment effectiveness and proof-of-concept testing to find the ideal blends of technical procedures and human interventions. IoT has also significantly helped supply chain management by facilitating better asset tracking. The incoming raw materials are coordinated with manufacturing schedules and aid in efficiently fulfilling delivery commitments. By collaborating with an Indian end-to-end engineering firm, businesses may also take advantage of seasoned personnel, data analytic know-how, tried-and-true procedures, and a manufacturing ecosystem that is continually changing.