Source of the article:Imaging Tech;Editor:Li Yuanming
Reprint Requirements: Please indicate the source of the article at the beginning of the text, and it can be reprinted directly.March 26, 2024Wipro GE Healthcare, a subsidiary of GE Healthcare in IndiaAnnounced plans to invest INR 80 billion in its manufacturing and R&D facilities in India over the next five years.ApproximatelyRMB 6.93 billion）。
This investment aims to expand its manufacturing and R&D capabilities in medical device technology, strengthen the company's supply chain resilience, and meet the growing demands of both the domestic and international markets.
The company said that as part of the investment plan, it intends to produce in India.Discovery IQ PET/CT ProductDiagnostic scanning equipment, etc., for export to 15 countries.
In addition, other high-end technology products of the company, such as Revolution Aspire CT, Revolution ACT, and MR breast scanning equipment, will be sold worldwide after being locally produced.
According to reports,Wipro GE HealthcareHeadquartered in Bangalore (also known as "India's Silicon Valley"), isWipro Limited (NYSE: WIT)AndGE Healthcare (NASDAQ: GEHC)Joint venture.The two parties established a partnership in 1990, and then formally founded Wipro GE Healthcare in 2009, announcing the integration of all independent departments and factories of GE Healthcare in India under this company.The integrated Wipro GE Healthcare has approximately 1,200 employees and isThe sole supplier of GE Healthcare in India.
Wipro GE Healthcare is one of the most successful and longest-operating joint ventures in the region, with operations across India, Bangladesh, Sri Lanka, Nepal, the Maldives, and Bhutan.At the same time, the company is alsoThe Largest Medical Technology Company in South Asia. It owns four manufacturing plants, focuses on export services, and will continue to invest in India and expand its global footprint.Wipro GE Healthcare focuses on addressing some tough healthcare challenges—helping reduce maternal and infant mortality, enabling early detection of cancer, providing precise care pathways for heart disease, and improving outcomes for trauma patients, among others.# Blue Ocean of Medical Device Market - IndiaAs the largest country in the South Asian subcontinent, India's population is second only to China.In recent years, with the rapid development of India's national economy, the medical needs of the Indian people have surged, which also means that India's medical device market holds tremendous business opportunities.Besides being the world's fastest-growing major economy,India is also seen by the West as a long-term alternative to China., because it can establish a strong global supply chain foundation.The Indian government is offering these companies tens of billions of dollars through production-linked incentive (PLI) schemes and providing equivalent support for setting up semiconductor plants, making it an increasingly viable option due to its appeal to these companies.India's medical device market was estimated at approximately US$3 billion in 2009 and reached about US$11 billion by 2020.The Indian government released a National Medical Device Policy in April 2023, aiming to increase the industry's growth to $500 billion over the next five years.Azim Premji, Chairman of Wipro Enterprises and Chairman of Wipro GE Healthcare, said at an event on Tuesday morning that India will see “Exponential Expansion of the Manufacturing Footprint". He added that the company's new investment is "strategic" and will further drive the localization of its products.
▲GE Healthcare Peter J Arduini (left) and Wipro GE Healthcare Azim Premji (right)
Chaitanya Sarawate, Managing Director of Wipro GE Healthcare and President & CEO of GE Healthcare South Asia, recently told The Deccan Herald in an interview, "About 25% of the company's products are for local consumption, and the rest is exported." He said that India could be the company’s fourth-largest market after the U.S., China, and Japan.The Fourth Largest Market。India is also one of our three fastest-growing markets.。”Chaitanya Sarawate, Managing Director of Wipro GE Healthcare, said: "As India aims to be among the top five global manufacturing hubs in terms of medical device value and technology in the coming years, we are committed to the national healthcare agenda."GE Healthcare President and CEO Peter J Arduini said candidly at an event in Bangalore: "India is a high-potential, high-priority market for GE Healthcare globally., we will continue to invest in expanding domestic capabilities in India and its global footprint in medical technology manufacturing and R&D."# Leading Medical Device Companies Are Setting Up Operations in IndiaHowever, unlike the pharmaceuticals industry which has seen years of strong growth locally, there remains a significant gap between the demand for and supply of medical devices in India.The import rate reaches 75%.
This has led many capital giants and medical device giants to also continuously expand their presence in the Indian market, includingMedtronic, Siemens Healthineers, GE Healthcare, Philips, Stryker, OmronInternational medical device giants such as GE Healthcare have also successively established a presence here.
In May 2023, Medtronic announced plans to invest 30 billion rupees (approximately US$350 million, equivalent to about RMB 2.486 billion) to expand its facility in Hyderabad, located in the southern Indian state of Telangana.Medical Engineering and Innovation Center (MEIC)。
Currently, MEIC has more than 800 employees, mainly engineers, and this number is expected to exceed 1,500 in the next five years with additional investments.
This investment will support key medical technology areas, including robotics, imaging and navigation, surgical technologies, and implant techniques.
Philips has been operating factories in India for a long time. As early as 2008, Philips began its expansion in India's industrial and commercial sectors after acquiring Alpha X-ray Technologies and Meditronics in India, incorporating them as part of its imaging business.
In line with its strategy to expand in India, Philips Healthcare has begun operations at its first imaging systems manufacturing plant in the country.
Philips' development and manufacturing center is located in Chakan, near Pune, 200 kilometers east of Mumbai. The plant specializesFocus on Diagnostic and Interventional Imaging Solutions, initially developed for the Indian market, and then for the global market.
In June 2023, Omron announced an investment of 1.28 billion Indian rupees (approximately 113 million RMB) to establish its first medical device factory in the southern Indian region of Tamil Nadu.
The factory is located in the Mahindra Industrial Park in Chennai, the capital of Tamil Nadu, and is planned to cover an area of 6.02 acres. It is expected to commence operations in March 2025, focusing onSupplying blood pressure monitors to the Indian domestic market。
With the support of the new factory, Omron aims to achieve a sales volume of approximately 5 million units in the Indian market by 2030.
#About GE Healthcare
On January 4, 2023, GE Healthcare announced that the previously announced spin-off from GE Group (NYSE: GE) has been completed. GE Healthcare will begin trading on the Nasdaq Stock Exchange as an independent company with the stock code "GEHC," effective at market open. GE Healthcare became the first company in Wisconsin, USA, to remotely ring the Nasdaq opening bell for its IPO.GE Healthcare has approximately 51,000 employees worldwide, serving over 1 billion patients annually across more than 160 countries. GE Healthcare's business spans four major segments—Medical Imaging, Ultrasound, PCS (Patient Care Solutions), and Pharmaceutical Diagnostics.
International Medical Imaging Enterprises:Chinese Medical Imaging Companies:
Editor-in-Chief | Zhao Qing Reviewed by | Yi He
