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Bio Spectrum Magazine - July 2024

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In this issue

MediTech Stackathon 2024 to Drive Explosive Growth
India's medtech industry holds immense potential, with projections estimating a growth rate of 28 per cent annually, reaching a size of $50 billion by 2030. Currently, India is the fourth largest market for medical devices in Asia and among the top 20 globally. Net imports for 2022-23 stands at $4.101 billion with import coverage ratio of 0.45. The sector has witnessed a surge in imports, driven primarily by countries like the US, China, and Germany, however, India's robust policy ecosystem presents opportunities for exports and reducing import dependence through domestic manufacturing. Exports have overtaken imports in consumables and disposables during last year. The industry now needs to continue with the momentum in other pillars of the medtech sector. Against this backdrop of immense potential, the Department of Pharmaceuticals launched Meditech Stackathon 2024, which
seeks to harness the collective expertise of stakeholders to propel the industry towards unprecedented heights of innovation and self-reliance. With optimal support and participation from all stakeholders, initiatives like Meditech Stackathon will take the Indian medtech industry to the next levels to become self-reliant.

Wipro collaborates with Centre for Brain Research at IISc for Al-driven health behaviour innovations

Wipro has announced a collaboration with the Centre for Brain Research (CBR), an autonomous, non-profit research organisation, hosted at the Indian Institute of Science (IISc), Bengaluru.

1 mins

Innominds, SCIINV Biosciences unveil Al-driven solution to combat AMR

Innominds, a US-based digital transformation and product engineering company, has announced its partnership with Hyderabad-based startup SCIINV Biosciences to introduce AMRX, an advanced AI/ML-driven digital diagnostic tool designed to combat the growing threat of antimicrobial resistance (AMR).

1 mins

MediTech Stackathon 2024 to Drive Explosive Growth

India's medtech industry holds immense potential, with projections estimating a growth rate of 28 per cent annually, reaching a size of $50 billion by 2030.

10+ mins

Setting Bigger Targets For Next-Gen Vaccines

New vaccine platform technologies could dramatically shorten the period from research to development, clinical trials, and vaccination. Reimagining R&D approaches in vaccine design and vaccine immunology may hold the key to significantly elevate the health impact of vaccines.

9 mins

Integrating Research Data for Drug Efficiency in the Indian Pharma Landscape

The average cost to develop a new drug is approximately 2.6 billion, according to a study by the Tufts Center for the Study of Drug Development. This cost may be reduced by up to 30 per cent through the integration of AI/ML and data analytics, which would result in substantial savings for India's pharmaceutical industry and poised to strengthen its global competitiveness and contribute to a healthier world.

4 mins

Read all Stories from Bio Spectrum

Bio Spectrum Magazine Description:

Publisher: MM-Activ-Sci-Tech-Communication

Category: Business

Language: English

Frequency: Monthly

India's leading publication that covers the business of bio-technology. With comprehensive analyses of policy issues, products and services across the bio-pharma, bio-informatics, bio-infrastructure and bio-agriculture segments, it is the industry's most authoritative source of information.