Launching medical devices for emerging markets

Abstract

Medical devices market is about 50 percent1 of the world pharmaceutical market in terms of relative size, but is also growing faster than its drug counterpart. To compete in this attractive market, many medical device companies are prospering by partnering with offshore outsourcing companies and collaborating on medical device development and manufacturing. By offshoring U.S. medical device manufacturers can focus on more strategic, value-added projects, and divert substantial funds to research and development. This paper highlights the opportunities and challenges associated of offshoring Medical devices.

Excerpts from the Paper

With over 380 universities, 11,200 colleges and 1,500 research institutions, India has the second largest pool of scientists and engineers in the world. Over 2.5 million graduates are added to the workforce every year, including 300,000 engineers and 150,000 IT professionals. And, India’s workforce is also one of the worlds youngest. Within the BRIC (Brazil, Russia, India and China), India is expected to stay the youngest, with its working age population estimated to represent 70 percent of the total population by 2030 — the largest in the world.  By then, the country is expected to have an additional 200 million people entering the job market.