By Nitesh Kumar Jangir, Co-founder, Coeo Labs
As per the report published by Federation of Indian Chambers of Commerce and Industry (FICCI) says that the Indian Medical Devices industry is valued at US$ 2.5 billion. Moreover, it is growing at a faster annual rate of 15%. A rise in the number of hospitals and the increased requirement for healthcare facilities creates a need for sophisticated devices and equipment, which can provide accurate treatment to individuals. The medical electronics segment of this industry incorporates control, conversion, sensing, processing, storage, display, and transfer of information on anatomy and physiology by making use of the Electronics and Communication Technologies. Developing an innovative medical product which can get regulatory approval is time and resource intensive. Designers can optimize the time and resource in product development by taking care of the standards (ex.IEC 60601-1) and implementing design rules for medical electronics. Commercialization of the medical device which starts from the design itself.
- Medical device manufacturing process, prototyping processes and hurdles.
- Medical device approval and new guidelines.
- Commercialization of the devices, different models for it.
Nitesh K. Jangir is Co-founder of Coeo Labs, a medical device company solving unmet clinical needs in the field of emergency and critical care. He is an Electronics Engineer with a focus on Embedded System Design, with experience that includes stints at Defense, industrial automation, medical Devices etc. He was also a part of Stanford-India Biodesign Program where he developed and commercialized a device to safely tap fluid from the lungs in patients with pleural effusion. This technology (Thorashield) was licensed out to a medical device manufacturing company based in Haryana. Nitesh is an active inventor and has filed Seven patents in – field of Medical devices and artificial intelligence.
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