Hydrix eyes Indian med-device cos for tech-transfer to develop products in POC diagnostics
Hydrix from Carnegie is now looking at tapping opportunities in technology transfer and joint product development for range of point-of-care (POC) diagnostics with companies in India.The company is a mobile-wireless technology major and an award winner for developing innovative systems covering implantable, insertables, wearables, in-vitro diagnostics, point of care and laboratory test equipment.
Hydrix from Carnegie, a suburb in the State of Victoria, Australia, a leading software and electronic design consultancy, is now looking at tapping opportunities in technology transfer and joint product development for range of point-of-care (POC) diagnostics with companies in India. The company is a mobile-wireless technology major and an award winner for developing innovative systems covering implantable, insertables, wearables, in-vitro diagnostics, point of care and laboratory test equipment.
Currently, India imports 70 per cent of its diagnostics from various countries and the high rate of custom duty has been detrimental to its indigenous manufacturers. Moreover, the country is home to a large diabetic population estimated at 61 million and there is an increasing incidence of life style disorders including hypertension and cardiovascular disease which requires POC diagnostics. The infusion of embedded technology in diagnostics can revolutionize healthcare in India.
“This is where Hydrix, is keen to chip in its expertise so as to help the Indian medical device industry come out with advanced diagnostics that would help its people in the far-flung remote villages to monitor their health parameters,” Peter Lewis, director, business development, Hydrix told Pharmabiz at the sidelines of interaction.
“India’s domination in information technology and large number of cell phone users, vast population and growing incidence of diseases has created a need for quick tests for early treatment protocols. With a decade of experience, we are now assessing the Indian market to understand the medical device industry and patient needs to tap the opportunities,” he added.
Specifically in India, we are looking at point-of-care and laboratory test equipment. There is also a huge opportunity to develop implantables too. Since, there is an impressive base of nine million cell phone subscribers in a country with 1.2 billion population, we could develop a technology that can be linked to the mobile to test and report the information including ECG to the closest hospitals, said Lewis.
The Indian medical technology industry can build its revenues from its domestic market with advanced and easy to use point of care systems. Hydrix can provide the high quality design software known for both functionality and regulatory compliance like FDA-510K, PMA and De Novo, CE and TGA design for production transfer and validation.
Hydrix has also interacted with over 25 companies in India which are a combination of start-ups and established players to look at collaborations or joint ventures. Considerable interest is evinced and we are hoping these discussions would get converted into potential business deals, said Lewis.
The size of the medical devices sector in Australia is estimated at Aus$ 300 million and Indian market for the same is valued at $2.5 billion in 2012.
The global slowdown of 2009 had impacted for a while but from 2012, there has been an increase in investments by 30 per cent. Even the Victorian Government under its Market Validation Programme has provided an Aus$ 20 million grant for three years for medical devices R&D, said Lewis.
Related News
-
News CPHI Frankfurt 2022: Innovator Interview – DSM Biomedical
At CPHI Frankfurt we spoke to Anne-Cecile Bayne, Global Science & Innovation Lead Pharma and Medical Nutrition, and Marc Hendriks, Vice President Strategy & Business Development, on their expertise in nitrosamines and business strategy at DSM Biomedica... -
News New WHO health emergency guidelines expect full transparency from Big Pharma
The WHO are proposing a new set of pandemic guidelines to set out how future global health crises should be handled. -
News Magic mushrooms could be used to treat mental health conditions
A compound found in magic mushrooms, psilocybin, could be used to treat mental health conditions and help patients suffering with severe depression, as shown by the results of the largest study of its kind to date. -
News UK-based partnership to launch DETERMINE study into rare cancer research
UK-based CRO Quanticate is set to partner with Cancer Research UK for the launch of the DETERMINE study focused on testing a range of existing and approved drugs and therapies on rare cancers. -
News FDA approves Thermo Fisher blood tests for wheat and sesame allergies
Both tests have been approved by the US regulator for in vitro diagnostic use -
News QIAGEN launches world’s first syndromic test for monkeypox
The test can distinguish between monkeypox and other diseases that cause similar symptoms. -
News Monkeypox Update: Vaccine shortage, sewage surveillance and global testing
As concern over the monkeypox outbreak continues to rise, we take a look at major developments from the first week of August. -
News CPHI Podcast Series: The importance of novel excipients for innovative drug development
The latest episode in the CPHI Podcast Series dives into the world of novel excipients and explores their importance for innovative drug development.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance