A healthier India backed by technology and innovation

As we step into the new year, I am filled with a very strong sense of optimism and purpose. The global market for medical devices is expected to grow at an impressive CAGR of 9.8 percent from 2024 through 2029, as per a report, clearly suggesting the pace of evolution of this industry. BPL MedTech is committed to navigate the journey with utmost resilience and focus.

Innovation and research
Our strategy involves building futuristic R&D facilities, forming strategic partnerships with leading technology partners to leverage existing expertise and localize them. We encourage our team to explore new ideas and pioneer breakthrough technologies that address India’s unique healthcare challenges. Simultaneously, we aim to establish partnerships with academia like IISC, IITs, and other tech institutions.

Quality assurance
Understanding the criticality of adhering to strict regulatory standards, our focus lies in robust quality control systems and regulatory compliance protocols, guaranteeing that our products meet international standards and certifications. Building trust among our stakeholders and end-users is the cornerstone of our success. My aim is to establish BPL MedTech as the leading Indian MNC in this space.

Accessibility and affordability
The key aspect of our vision is to champion the Make in India initiative. We aim to develop our own medical devices that are not only technologically advanced but also affordable and accessible. With our two ISO 13485:2016 certified factories in Bengaluru and Palakkad, we are dedicatedly crafting medical devices that meet the highest standards of quality and reliability. By optimizing our manufacturing processes, streamlining supply chain systems, and collaborating with the GOI, we strive to lower the cost and ensure the equitable distribution of our life-saving medical devices.

Collaborations
BPL MedTech is committed to forming alliances with healthcare providers, clinicians, and public health agencies to gain valuable insights into the real-world challenges faced by both patients and caregivers. With this information, we customize our products as per the Indian market. Additionally, partnerships between Indian companies like ours and those in friendly countries, facilitated by the GOI, can bring proven technologies and products to India. This will not just cut short the cycle time of go-to-market (3–5 years), but also positively impact healthcare professionals as well as patient outcomes.

Digital healthcare
Our strategy involves embracing telemedicine and remote patient monitoring to create interconnected medical devices that seamlessly share data, facilitate remote consultations, and improve patient engagement with their healthcare providers. In doing so, we aim to empower patients to take charge of their health while simultaneously enhancing the efficiency of healthcare delivery. With the growing elderly population, connected homecare products will become essential, acting as an EMR data repository for various vital signals being captured within a home setting periodically, aiding clinicians to tailor their treatment.

Export
My vision is for India to emerge as the net exporter of medical devices over the next few years. Achieving this requires a two-fold approach. Firstly, a concerted effort on exports by all the Indian MedTech players is a must. The government’s support is essential to catalyze this transformation. Facilitating medical devices donations through India’s line of credit can expand our global footprint. Also, imposing a high entry barrier for imports with Indian equivalents will safeguard domestic industries and encourage local manufacturing. Secondly, establishing a strong reputation for quality is paramount. A zero-tolerance approach for subpar products must be adopted by all industry players. This commitment to excellence will be instrumental in gaining international trust and competitiveness and scale the India’s MedTech quality standards to global benchmarks.

Talent development
BPL MedTech believes in catching them young when it comes to acquiring talent. We have collaborated with some of the top institutes to recruit young interns for a period of six months to one year to provide exposure to them with structured training internally, followed by absorbing them in job roles in areas of their interest.

Furthermore, we have recently launched an in-house medical equipment training program called the BPL METS – a certified month-long course. Upon completion, these skilled individuals will be equipped to contribute significantly across various departments in the MedTech domain like manufacturing, production, services, or as biomedical engineers or paramedics in the healthcare facilities.

Committed to our vision, BPL Medical Technologies will not only forge a path toward a healthier nation but also inspire a new era of innovation and well-being for generations to come. As the CEO & MD, I am committed to steering the company forward to this vision.