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July 10, 2024Global Healthcare Technology Leader Medtronic(New York Stock ExchangeCode: MDT) AnnouncedOpening a New Global IT Center at the Hyderabad, India Plant.
Medtronic stated that it has invested$60 million (approximately 430 million RMB)Building a New IT Center,Expected Future3 to 5 yearsAbout 300 job opportunities will be created in China. New IT Center FocusCloud programs, data platforms, digital health applications, hyper-automation, and artificial intelligence/machine learning, etc.Cutting-edge technology. 
Shri D. Sridhar Babu, Minister of IT, Industries, and Commerce of the Telangana Government, Ms. Jennifer Larson, the U.S. Consul General, Ms. Rashmi Kumar, Senior Vice President and Chief Information Officer of Medtronic, and other key dignitaries lit the ceremonial lamp at the inauguration.# Largest Overseas IT CenterSince 2020, Medtronic has continued to invest in the expansion of MEIC in India.
On April 7, 2020, Medtronic announced the completion of the newly expanded Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, India.The R&D center is expectedInvesting $160 million (approximately over 1 billion RMB), to build it into Medtronic's largest research and development center outside the United States.After the investment is in place, the number of employees at the R&D center will increase from 350 to approximately 1000. The center will provide software and engineering services in the fields of cardiology, neurology, nephrology, and minimally invasive surgery for the company.On April 7, 2021, Medtronic announced the official completion of the expansion project.In 2023, Medtronic once againAn increase of approximately US$350 million (equivalent to about RMB 2.486 billion), to expand its Medtronic Engineering and Innovation Center (MEIC) in Hyderabad.On March 1, 2024, Medtronic inHyderabad, IndiaUnveiling Ceremony Held for Medtronic Engineering and Innovation Center (MEIC)MEICFloor Space250,000Square feet, the center currently hasMore than 900 engineers, which will increase to1,500 employees。Mainly providing support for Medtronic's 15 global business units, the center focuses on the development and testing of cutting-edge software, medical mobile applications, and engineering research, among others. SurroundingSurgical robots, surgical navigation and imaging, surgical equipment, implantable devices, ventilatorsand other fields.In addition, MEIC will provide expertise in mechanical design and analysis, hardware engineering, as well as quality and compliance. India is expected to become a key center for Medtronic's global R&D efforts.# Medtronic in India – Taking Surgical Robots as an ExampleIn December 2019, Medtronic launched the Mazor X (Stealth Edition) robotic-guided surgery system in India.。Surgeons at the Indian Spinal Injuries Centre in New Delhi successfully performed the country's first minimally invasive spinal surgery using the Mazor X (Stealth Edition) system.Mazor X (Stealth Edition) can utilize software to formulate surgical plans and guide implants and medical devices through the robotic arm at each step of the surgical procedure.。The system is able to provide real-time imaging feedback., to help surgeons make plans before and during the surgery, and visualize the surgical scene.
In 2021, MedtronicHugo RASSurgical Robot Completes Asia's First Clinical Surgery in India.The Hugo Surgical Robot System is a modular multi-quadrant platform designed for a wide range of soft tissue surgeries. The surgical robot system launched by Medtronic uses a modular solution, focusing on overcoming the barriers of cost and application in surgical robotics.
On May 2, 2023, AIIMS New Delhi and Medtronic India jointly announced the opening of an advanced surgical robotics training center in New Delhi, India.This center will provide robotic-assisted surgery training for surgeons, marking the first AIIMS training center in China to utilize the Medtronic Hugo robotic-assisted surgery system.The training center will offer a wide range of training courses to enhance doctors' knowledge and skills in the field of robot-assisted surgery, from basic skills training to surgical training, and further to more advanced and specialized soft tissue surgical procedures.# India - The Choice of Multiple GiantsIndia has a large population, and the country's elderly population has exceeded 100 million. These demographic changes have led to a shift in healthcare needs, driving the growth of healthcare expenditure.As an important exporter of global artificial intelligence and semiconductor technology talents, India has a large pool of highly educated and skilled professionals. These talents provide the intellectual support needed for R&D by medical giants.Moreover, compared with developed countries, India has relatively lower R&D costs. Medical giants can set up R&D centers in India, utilize local R&D resources, reduce R&D costs, and improve R&D efficiency.Besides Medtronic, many medical giants have a presence in India.- In March 2024, a subsidiary of GE Healthcare announced that it would invest approximately $960 million in the next five years.Dollar, for manufacturing output and local R&D.
Currently, GE Healthcare has four manufacturing plants in Bangalore (also known as the Silicon Valley of India), focusing on the production and export services of more than 30 GE products, covering the entire South Asian market, including India, Bangladesh, Sri Lanka, Nepal, Maldives, and Bhutan.
- In April 2024, Philips announced the opening of a new R&D center in India.
The first phase of the expansion, with approximately 300,000 square feet of office space, will accommodate 1,900 employees, including R&D teams from the Image-Guided Therapy, Precision Diagnostics, Monitoring, and Sleep & Respiratory Care businesses.
- On June 6, 2024, Canon established a new Indian subsidiary — Canon Medical Systems India.
Canon will meet the growing demand for medical equipment (CT scanners, MRI machines, ultrasound systems, etc.) through its subsidiary, Canon Medical Systems India, and target key markets such as Chennai, Hyderabad, and Mumbai.▲ Canon's Global Leadership Holds Strategic Meeting in Mumbai - In June 2024, Olympus, a global leader in medical technology, announced plans to establish a Research and Development (R&D) and Offshore Development Center (ODC) in Hyderabad, India.
In addition, Olympus will also cooperate with AIG Hospital in Hyderabad to carry out joint research projects.# The Indian Medical Device Market Should Not Be Underestimated
The current market size of India's medical device industry is estimated at$11 billion, which is expected to grow to 2025.$500 billion，Is the fastest-growing medical device market in emerging markets.With the development of India's economy, healthcare, and social environment, its medical device market presents a promising opportunity for foreign manufacturers.
1. Private hospitals account for a significant proportion.
In India, private hospitals account for a significant proportion, with an average of 52% across regions, while public hospitals account for 48%.In terms of equipment configuration, imports by private hospitals in IndiaHigh-end electronic diagnostic imaging equipment, such as Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET)The demand for equipment such as... is strong.
2. Dependence on Imported Medical DevicesA significant portion of India's medical device products rely on imports, including routine medical devices such as blood glucose meters, heart valves, artificial blood vessels, implantable prostheses, as well as imaging diagnostic equipment like B-ultrasound, CT, and MRI systems.*On May 8 this year, the Indian Minister of Pharmaceuticals delivered a speech, stating that the government and the industry should collaborate to reduce India's reliance onImportDependence on Medical Devices. Most manufacturers in India are engaged in low value-added products such as syringes, needles, and catheters, while surgical instruments, cancer diagnostics, and electronic medical devices all need to be imported.Top Imported Medical Products in India 2021 3. Among local companies, small and medium-sized enterprises (SMEs) are the mainstay.India has 750-800 domestic medical device manufacturers, but most are small and medium-sized enterprises. Approximately 65% of the manufacturers are primarily domestic companies engaged in the consumables business, serving local consumption with limited export capacity.An increasing number of medical device companies are relocating their R&D centers to emerging market countries, typically these countriesLower R&D and production costs, and many countries will introduce preferential policies.(such as tax relief, financial support, etc.), there are also sufficient technical talents.From the perspective of the company's global commercialization, emerging market countries are an important part of the global market and often haveThe large population base and rapid economic growth have led to an increasing demand among the public for high-quality medical services.The company first understands the local market demand, captures new growth points through R&D activities, and also helps promote related products globally.The completion of Medtronic's largest overseas IT center in India will bring what surprises to India and the world? We will wait and see.Editor-in-Chief | Zhao Qing Reviewed by | Yi He
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