What is the size of the medical devices that Medtronic Inc and Medtronic India are targeting globally and nationally respectively?

The medical devices market is showing a double-digit growth. The cardiac devices alone are growing at 20 per cent. In India, the growth of the market is estimated to be between 10-15 per cent. There is a clear indication that the penetration levels are higher in the country. This is because of affordability by patients, increased awareness on health care, improved hospital infrastructure and the increased disease patterns.

What are the key drivers of this market? Is it innovative technology, simple to use techniques or pricing?

For Medtronic's the key driver for growth is innovation. Annually the company also pumps in 10 per cent of its annual turnover into research and development. It employs 33,000 personnel of which 9,000 are into product development and research. From an Indian context, the company believes that constant training and awareness programmes are crucial factors to increase sales.

What is the competition faced by the company and its ranking globally and in India for stents and medical devices?

We have a diversified product offering and therefore, there is competition at different levels. In cardiac devices we compete with Johnson & Johnson, Boston Scientific and St. Jude Medicals. Under spinal disorders, Johnson & Johnson and Synthes are the competitors. In neurology, we are the pioneers for devices to treat and control Parkinson disease. In India, we have around 6 installations, which includes National Institute of Mental Health and Neuro Sciences (NIMHANS) and All India Institute of Medical Sciences (AIIMS).

Currently, what is the manpower strength at Medtronic India and any hiring on the anvil, how many and by when?

Hiring is on and we are scouting for biomedical engineers. We also allocate resources for training, which is a comprehensive education programme. We also have doctors on our rolls and this is because they are familiar with medical sciences and devices are an extension of their specialisations.

What are the current trends in the medical devices sector?

The current trend is the convergence of biotechnology, information technology and medical technology. In addition to diagnosis and monitoring, the company has linked information technology and communications to launch Care Link, which is a connection between the patient and doctors miles away on a remote basis. Around 600 hospitals in the US, which have been linked to this service.

Another trend is that health care providers are now convinced that investment in medical devices would bring down cost of treatment for patients because accurate diagnosis can simplify procedures, reduce hospitalisation, decrease discomfort and promote faster recovery.

What are the future prospects for the medical devices sector?

The future holds immense potential for this sector. Companies like Medtronic's India are looking providing the patients affordable healthcare with a range of medical devices. The focus is to grow the market, which is a challenge.

(Ref : Chronicle Pharmabiz dated March 30, 2006)