Updated on 30 October 2013
Can you elaborate on the opportunities and challenges in the medical diagnostic markets in India?
India offers a number of opportunities, along with some challenges, towards further growth of its diagnostics market. The opportunities are clear. A noticeable increase in government healthcare spending, coupled with rising income and education levels, are priming the country for a major influx of diagnostic solutions, made available to a much larger population segment than ever before.
Leveraging our strong reputation and installed base across the country, we see opportunities to further expand the range of Siemens solutions and services for our Indian customers, particularly in areas like microbiology, hematology and point-of-care IVD testing.
The diversity of the Indian market is quite unique and challenging. On one hand, you have high-class hospitals and on the other, there is a vast and fast growing market for entry and mid-level products. Siemens tries to serve both markets with innovations that equally cater for quality, effectiveness and price-efficiency. However, obstacles do remain that may limit India's IVD growth potential. They include a volatile healthcare insurance network, fluctuating currency exchange rates, and shifting import rules.
What is Siemen Healthcare's strategy on expansion?
Siemens Healthcare's global initiative of Agenda 2013 entails objectives like expanding our regional presence in the fast-growing emerging markets and further extending our portfolio of systems in the middle price segment. Agenda 2013 also focuses on driving innovation leadership and people development. With this strategy in place, we will continue to bring M3/M4 innovative products to India. Moreover, our corporate technology and development center located in Bangalore, with its talent pool of over software professionals, will continue to play a significant role in R&D.