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Plastics In Medical Devices Event Returns To Northeast
Ohio THE fast - growing medical devices sector demands
constant attention, as federal regulations and customer demands tend to change
rapidly. And plastics’ role in such products is only increasing, creating
opportunities for those equipped to respond.
The second annual “Plastics in Medical Devices” conference in
North America – set for April 11-13 at Sawmill Creek Conference Center In Huron,
Ohio – will kick off with a pair of concurrent, afternoon workshops, followed by
a two-day conference program featuring nearly 40 presenters. As with the first
such conference – which drew 275 participants from around the world to Cleveland
last April – this event will again bring together members of all segments of the
medical-device supply chain. Speakers include industrial designers, medical
device OEMs, plastics processors and toolmakers, consultants and materials and
equipment suppliers.
The theme of innovation underscores the conference’s keynote
addresses. Wynn bailey, a principal with pricewaterhouseCoopers LLP, will
deliver the opening address April 12, as he recaps the findings from PwC’s
recent study that charts how well nine countries promote factors that advance
medical technology innovation. Bailey will assess the implications of the
medtech innovation gap narrowing between the United State and emerging economies
such as China and India.
Meantime, John Nottingham, co-president of Cleveland design
firm Nottingham Spirk, And Andy Zynga, CEO of open-innovation service provider
NineSigma Inc., will tag-team on a keynote presentation offering advice on how
to speed up the development and market introduction of medical products.
Other presenters from firms such as Battelle, Boston
Scientific, Jabil, Philips, Vesta Inc., Sweden’s Zenit Design, MTD Micro
Molding, GW Plastics, Roundtable Healthcare Partners, Stout Risius Ross, Czuba
Enterprises, SmartShape Design, PolyOne, Ximedica and Eastman Chemical will
address such topics as micromolding, nanomaterials, regulatory changes, merger
and acquisition trends in this sector, home healthcare trends, advances in resin
and additives technology, and outsourcing/offshoring trends. Additionally, 30 or
so organizations – from molder Thogus products to university penn state Erie –
will have exhibits offering further information.
The concurrent, four-hour Monday workshops will address the
following topics:
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RJG Inc. will offer
strategies to help companies deal with the expensive time and
resource-consuming tasks of meeting FDA requirements for installation (IQ),
operational (OQ) and performance (PQ) qualification, with a focus on medical
plastics processing.
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Austria’s Engel
Machinery Inc. will team with German automation equipment supplier Waldorf
Technik to provide an update on the latest injection molding and clean-room
production technology and concepts for medical parts production. Full program
and registration details are available
www.plasticsinmedicaldevices.com.
Value Of Indian Medical Devices Market To
Touch US$ 6.41 bn By 2014: Cygnus
The Indian medical devices and equipment market, which was
valued at US $3.6 billion in 2010, will reach US $6.41 billion by 2014 with a
compound annual growth rate (CAGR) of nearly 15.5 per cent, said Cygnus Business
Consulting and Research Pvt Ltd.
According to Cygnus, the medical equipment segment accounts
for 55 per cent of the total medical devices market, which is followed by
medical implants and disposable segments accounting approximately 25 per cent
and 20per cent respectively. The medical equipment segment, which stood at US$
1.98 billion in 2010, is expected to reach around US$ 3.50 billion in 2014.
Medical supplies such as bandages and disposables such as syringes, needles and
catheters together constitutes 20 per cent of the total market largely met by
local production. Disposables segment, which has been estimated at US$ 0.72
billion in 2010, is further projected to reach US$ 1.36 billion in 2014. Market
for medical supplies and disposables is dominated by the domestic manufacturers,
whereas the costly and high-end medical equipments are mostly imported.
Diagnostic kits constitute a high growth segment in the
medical devices market with a growth rate of 30 per cent and a market size of
US$ 496 million in 2010. Imports constituted more than 50 per cent of the Indian
market, and valued at about US$ 1.96 billion with a CAGR of 23.0 per cent during
2006-10.
Cygnus said that the economy is booming with an average
growth of 8.52 per cent from 2005 to 2010, and it will have a positive impact on
the industry. Also the country is witnessing increasing healthcare expenditure,
changing demographic profile with a rise in old age population and increasing
incidences of lifestyle diseases. There is an increase in demand for quality
healthcare with growing number of tourists visiting India for seeking medical
services. Proliferation of private hospitals, increasing incidences of
outsourcing or relocating of medical device manufacturing by foreign companies,
growing popularity of telemedicine and user-friendly, handy devices will ensure
that the demand for medical devices moves northwards.
The market is largely dependent on the private sector where
investment is not a major concern. Continuous innovation in developing new
products has created high demand in the market. Many multinational firms import
equipment as they see a profitable growth in the Indian market. Some overseas
companies have also established their manufacturing plants in India. The
government has also taken several reforms to develop the market by regulating it
to bring out more transparencies and by allowing foreign investments to
participate in the various events. Importers and distributors utilize the
opportunity of the events to establish a direct network with the consumers.
These events mainly help in customer awareness, new product launches and in
direct sales of the products, Cygnus added.
(Ref:
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