Despite the rupee devaluation and the flat market conditions, global leader in medical technologies GE Healthcare hopes to record a double digit growth for its products in India this year and is planning to develop more low cost solutions for domestic market.
GE Healthcare, which wants to introduce its all products in the portfolio in India, also felt that conditions were favourable to new technologies in the country which has still vast scope in segments like MRI equipments and CT instruments. GE targets to develop 100 low cost solutions in India to address India’s and world’s healthcare challenges in the area of cancer, cardiac diseases and maternal/infant care.
“One third of the MRI scanners installed in India so far come from GE. The domestic market is worth 200 million dollar and is growing fast at around eight to 10 per cent. We hope to grow faster,” Richard Hausmann, president and CEO of Global MR Business, told Pharmabiz.
Likewise, the company also sees good prospects in the CT scanner segment in the country. “We hope to have a double digit growth though market was rather flat now. We see opportunity despite the rupee devaluation,” said Stevan J Gray, president and CEO of Molecular Imaging/ Computed Tomography.
Company officials said India accounted for five percent of its global business but focus was given to tap the emerging opportunities. The Indian operations are expected to register 15-20 per cent growth this year. Its revenue was $570 million last year.
GE Healthcare, the US$ 18 billion healthcare business of General Electric Company, has recently launched healthcare technology lounge on wheels - Mission Healthier India. Six specially designed healthcare vehicles will reach 200,000 clinicians around the country, especially smaller towns and villages. The Lounge will provide clinicians a hands-on experience on these advanced technologies catering to women, mother and infant care, cardiac diseases and critical care.
GE’s innovation centre in India is the largest for GE in the world with 6000 engineers and scientists. Over 1600 of these scientists and engineers are dedicated for healthcare innovations and have developed over 125 innovations for the world with 25 affordable solutions for improving access in India and the emerging countries.