Transasia Bio-Medicals Ltd.

It’s that time of the year when India Inc. puts forth their suggestions and expectations from the Government in allocating policies and budgets for the year that will be, and healthcare is no exception. The Indian healthcare industry is on a progressive track and the diagnostic industry in particular is expected to steadily grow at a CAGR of 13-14% through 2020. Having said that, the industry looks forward to crucial government reforms that will help achieve these numbers. While technology is expected to continue to make in-roads, I reiterate that affordability and accessibility of healthcare need to take centre-stage. I am hoping that a major focus in the Union Budget 2020 will be given to the diagnostic industry, as it is the starting point to building a Healthy and Happy India. Hard reality of the USD 7 bn Indian medical device industry is that imports still constitute to 72-80%. While Make in India continues to remain the central focus for the government, as an Indi

We often tend to compare the prices of the diagnostic tests, prescribed by Doctor. This article is intended to convey something as complex as the diagnostic ecosystem and end user pricing in as simple a manner as possible. There are quick reactions when information about raw material pricing of diagnostics are shared in media reports comparing it to the price an end user pays for the same. Nothing can be farther from the truth, as pricing of tests by labs and hospitals are influenced by multiple factors which tend to vary significantly. Like with most services, there will be a huge variation depending on the location and other factors. It is important to raise this awareness and correct the misconception of the general public. I am listing most of the factors (not all and by no means exhaustive) that are behind the price variation in diagnostic tests across locations in India: Location - Real estate costs vary hugely across India and these variations are significant

Though there are several positives, when you view the fine print, the proposed policy initiatives are a far cry from creating an attractive environment for the domestic production of medical devices as well as catalyzing R&D. As a member of the healthcare industry I am happy that through the interim budget, the Government has announced its intent to continue to focus on building a healthier India. The healthcare sector has got a boost with nearly 13% hike in the health budget, the highest in the last two financial years. An allocation of Rs. 6400 crores towards Ayushman Bharat, commissioning of the 22nd AIIMS centre and setting up of health and wellness centres, are all positive moves that are set to bring in a new wave of health transformation especially for the lower and middle class families. Artificial Intelligence - harnessing the benefits of new age technology The announcement to set up a National Artificial Intelligence portal will lay further emphasis on techn

Digital transformation of a diagnostic lab enables one to allow efficient management of the inventory and better anticipate maintenance needs of the instruments. Think about it! In any business, what is the role of technology and how does it help? In simple words, it is one of the problem-solving tools that helps resolve a business problem faster and effectively. With an increasing focus on offering value-added services, manufacturers are adopting rapidly evolving technologies such as IoT or Internet of Things, to meet the huge demand for fully automated products and services. IoT applications are being used across all verticals of business and healthcare is no exception. In fact, IoT has brought in a lot of ‘convenience’ to the healthcare ecosystem. A research has projected that by 2019, 87% global healthcare organizations will have adopted IoT technology. Speaking specifically of the medical devices segment, IoT has brought about digital transformation to a lab work

In the first edition of this blog, we evaluated the impact of EDL on the healthcare system. The Indian IVD manufacturers have an important role to play along with the health ministry to ensure that EDL truly benefits the patients at large. In this concluding series let us evaluate the same: In addition to the healthcare sector, an EDL will also have a significant impact on the IVD manufacturing industry: An EDL, by listing country/region specific needs, could help develop target product profiles (TPPs) . A TPP provides details on the minimum and optimal performance and operational characteristics of priority diagnostic tests. Researchers and manufacturers use TPPs to ensure that R&D activities are focused on relevant products to meet the needs of end users. Moreover, an EDL is prepared taking into consideration, target users, intended use, infrastructural requirement, sample type and volume, sample handling, performance, diagnostic testing algorithm, etc. Thus, an IVD ma

WHO’s latest announcement on introducing an Essential Diagnostic List further emphasizes the need to widen the reach of important diagnostic tests for timely disease management. The good news is India has taken the lead to develop its own National EDL. What needs to be seen is how the government and the industry come together to integrate the EDL to further boost the efforts towards a Healthier India. The impact of global warming is not just on our melting glaciers. The rampant spread in infectious diseases, both new and old; has become a big concern for the healthcare specialists. Gone are the days when malaria was associated only with monsoons. Weather variations bring with it the unpredictable onset of host of diseases, further pushing the health machinery into action to contain the spread. The recent outbreak of Nipah virus in Kerala, once again highlights the crucial role played by diagnostic tests for the precise and early detection of emerging diseases. Clinici

Recent technological advancements in In-vitro diagnostics have been encouraging manufacturers to explore opportunities beyond their home markets.  Read on to know more about the exciting avenues opening up in this sector. As India’s leading In-vitro Diagnostic Company, we have set trends in driving the growth of this sector. While a lot has been written about our well established base in the domestic market, an important aspect is also how we understand the growing needs of developing countries and offer dedicated solutions. Over a period, Transasia has acquired 14 companies globally and has been able to reach out to millions in over 130 countries. From a broader perspective, for any IVD player it is important to know what drives the market globally. As the New Year dawns upon us, it is a good time to understand what is trending in the international market. Various advancements in the conventional technologies of IVD, have been the key growth drivers. These devel

A population of 1.2 billion relies on 70% imported medical devices  Make in India to turn the table s oon! Suresh Vazirani Chairman & Managing Director,  Transasia Bio-Medicals Ltd.  Globally, the medical device market is segregated into six major segments, of which diagnostics imaging constitutes the largest chunk. In-vitro Diagnostics is the second largest segment with an estimated 24% share*. In India, the Medical Devices industry is presently valued at USD 5.2 billion and contributes 4-5% to the Indian healthcare industry. As an industry leader, I am glad that the Government’s Make in India initiative recognizes Medical Devices as a sunshine sector. Today, the liberalization of government policies allow upto 100% FDI through automatic route. Taking advantage of this lucrative opportunity, an increasing number of MNCs are setting up their manufacturing bases in India. However, we still have a long way to go. It is appalling to know, that India loses Rs. 60