DBT Initiative To Assess Quality Of Medical Devices

The Germany based Cinvention AG, a leading technology company focusing on a nano-composite materials in biomedical applications is pitching on drug eluting stents market globally.

The Department of Biotechnology (DBT) under the Science and Technology Ministry is taking steps to assess the quality of existing medical devices and implants in the country, besides analyzing the possible scope of the market.

The DBT has already invited technical and financial bids from the individuals and institutions of expertise to conduct the proposed study with a futuristic outlook. The study, to completed in two months, will cover the entire spectrum of medical devices, implants and bioinstrumentation, sources said.

The survey will assess the imports and exports of the devices, key industries using them and the development of market for the next five years. It will also examine the hurdles in the sector for the future growth and barriers to the technology transfer and investment from overseas.

Suddenly the medical devices market in the country is witnessing a spur with the stakeholders joining together to expand the reach and more international players coming to India.

The Government on the other hand is planning a legislation to benchmark the devices which throw open huge export potentials.

(Ref : Chronicle Pharmabiz dated December 21, 2006)