About the Author: Chander Shekhar Sibal holds two and half decades of professional experience with proficiency in the field of sales & marketing. He has an acumen for business analytics, and project management along with excellent financial management, risk, and contingency management appetite. His keen knack for technology has enabled Fujifilm India to drive business strategies and achieve set goals. Previously he was associated with Samsung, GE Healthcare, and L&T Medical.
Technological advancements have been reshaping the Indian healthcare landscape for the past few years and its impact is increasingly being felt on the Indian medical devices industry as well. The adoption of digital solutions such as AI, the Internet of Things (IoT) and integrated digital platforms has ushered in an era of innovation, that continues to unfold in remarkable ways. The benefits of technological integration are twofold – it improves efficiency of clinical procedures and accuracy of outcomes and makes healthcare more accessible for the underserved regions of the nation, which, for long have been dealing with daunting challenges.
A Rapidly Evolving Landscape
With the ongoing challenges of rural healthcare accessibility and an ever-growing population, there has been an increasing demand for advanced medical devices that can improve patient outcomes, diagnostics and treatment. Spurred by increasing healthcare needs, government support through initiatives like the Production Linked Incentive (PLI) scheme, and the influx of technology, the Indian Medical Devices Industry could grow manyfolds.
Leading Technology Trends that are Reshaping the Sector
Artificial Intelligence: The increasing integration of AI is revolutionizing diagnostics, predictive analytics and personalized treatment. Medical images such as X-rays and MRIs are being interpreted by Machine learning algorithms with remarkable accuracy. This innovation is enhancing affordability and accessibility in healthcare, with established firms and startups leading the charge.
The Internet of Medical Things (IoMT): A subdomain of IoT, IoMT creates a connected ecosystem of healthcare systems and medical devices that communicate in real-time. Thanks to this technological innovation, live health data is now available at patients’ fingertips with wearable monitors, smart insulin pens and remote patient monitoring.
Cloud-Based Solutions and Digital Platforms: By integrating Electronic Medical Records (EMRs) and enabling telemedicine Cloud technology is streamlining healthcare in ways that were never thought of before. The role of cloud-based platforms in remote care was significantly highlighted by the surge in telemedicine consultations, which rose by over 200% during the pandemic. These systems not only allow healthcare professionals to make informed, data-driven decisions remotely but also ensure continuity of care and improve data storage.
“The government initiatives like the Ayushman Bharat Digital Mission (ABDM), which aims to integrate personal health records with providers and insurers, are fueling digital healthcare adoption.”
