Updated on 9 November 2012
What factors have helped in the growth of Trivitron?
Trivitron Healthcare's growth can largely be attributed to our focus on key medtech segments including cardiology and interventional devices, imaging, diagnostics, critical care and ophthalmology, introducing newer technologies and ensuring that we offer both value as well as premium segment products across markets. We have kept our pace higher than the market growth pace. With rapid growth of the middle class, healthcare infrastructure improvement, regulatory reform, and greater awareness and access across a broader set of customers.
How do you see the opportunities and growth of medical technologies in Asia now?
China and India are the two major countries or markets for healthcare and medical technology in Asia, with 23 of the largest (by revenue) global medtech companies having their sales and marketing presence in India. Also slowing down of economic conditions in China and India along with the rest of the world is a highly favorable destination for healthcare. At this point of time, most of the MNCs and domestic players have pursued a conservative business strategy and operating model in India, focused on delivering their existing offerings to the premium segments of the market.
However, with the playing field becoming more competitive, there is a need for change in business strategy with clear focus on premium as well as value (tier two and three) markets. Moving beyond importing current mature market products to customized offerings, shifting from technology product innovation to value based innovation and establishing new business models are few of the requirements.
What major challenges are the medical technology companies facing in Asia?
As I said, challenges are lack of ‘self -reliant, value segment, product for all' kind of an approach to cater to all segments of emerging markets. Success will depend on establishing local and regional operational capabilities and delivering new innovations, including a low-cost manufacturing network, local R&D, and market-specific commercial operations and capabilities.
Since Trivitron has operations in different regions of the developing world, where do you see the potential for growth of Trivitron and why?
Potential is across all emerging markets of the world, more so in these region as they require access to healthcare through cost effective medical technologies and the same cannot be offered by MNCs based out developed markets. Trivitron will be offering indigenous manufactured and joint venture (JV) manufactured cost effective products to these markets.