IISL’s Medical Devices practice
Healthcare policy reforms and emerging technologies have transformed the Medical Device industry into a highly competitive market. As per industry analysts, Medical Devices is a $ 320 Bn market and account for 5% of the global healthcare market. Technology advancements like artificial organs, home monitoring & increasing awareness of health issues are opening up new opportunities for remote patient monitoring solutions.
The industry is facing increasingly stringent regulations, challenges from the rise of the economic buyer, stagnation of innovation, and competition from emerging market players – the need to invest in sophisticated IT and IT infrastructure has become a necessity. There is a need to focus on cost reduction, Outsourcing R & D, innovation, and New Business Models. Needless to say, the new growth of value buyers is going to come from emerging markets.
IISL’s best-in-class portfolio of solutions addresses the strategic needs to revitalize innovation through value engineering of products, improve patient centricity through mobile and cloud technologies, and standardize and streamline regulatory processes. Solutions like field services transformation from CISSL are helping customers achieve commercial effectiveness. IISL’s regulations are enabling global medical device players to achieve compliance.