Medical Devices is one of the fastest growing industry segments in the Global Health and Wellness Industry. The estimate is that by 2014 Medical Devices would be a $450 billion industry. The demand for devices from emerging markets is increasing and the key segments that are contributing to this growing demand are Homecare, Monitoring and Diagnosis.
The Medical Device manufacturers continue to face challenges to meet the growth in demand from emerging markets, while continuing to serve the developed markets. Also regulatory compliance will become a key factor in US markets with changing norms for the FDA 510 (K) submissions.
Key trends include:
- Increasing cost pressures on companies
- Increased focus on preventive care
- Investments in products/solutions for homecare, remote monitoring, tele-health and self-monitoring
- Growth in developed as well as emerging market.
- Changing operating models for R&D, supply chain, manufacturing
- Accelerating interoperability involving medical equipment and hospital systems
How Wipro Helps
Medical Devices sector is a strategic growth engine for Wipro. We have developed offerings along the entire value chain of medical devices to support our customers. Following is a summary of how our customers leverage our more than a decade of expertise to gain significant competitive advantage and business benefits – end-to-end services from conceptualization to product design and development to post market support.
- Globalized R&D services, technology enablers, localization expertise, and complimentary skill sets in consumer electronics, semiconductor and wireless technologies and hardware system design
- One-stop shop for IT application development and maintenance services for medical devices – CRM, BI and DW, etc.
- Business transformation offerings – data center transformation/consolidation, remote infra management, Cloud Services (everything as a service), sustainability solutions, unified communications, sales force productivity improvement, etc.
- Regulatory services and independent verification and validation expertise – FDA, MHRA, CE, etc.
- Post-market services
- Knowledge of emerging markets.
Healthcare & Life Sciences Communiqué 
Jyotirmay
Datta, Global Head Medical Devices, Wipro Technologies, talks about the key
trends in the life sciences and the medical devices industry impacting the
CFO organisations - elaborating on their impact on the healthcare ecosystem
and, the opportunities for technology, to address some of the challenges
that are an outcome of the change.
