LSC, Life Science Consultants’ Post

Great news for Abbott! Medical device company Abbott has opened a new manufacturing facility in Kilkenny which is is set to create more than 800 jobs. The Kilkenny facility is part of a €440 million investment in Ireland, which also includes a major expansion at the company’s Donegal site, adding another 200 jobs. https://lnkd.in/e55ndDYW

US medtech giant Abbott has officially opened a new manufacturing facility in Kilkenny, which will employ 800 people. The facility is part of a €440m investment by the company in Ireland, which includes an expansion of its site in Donegal, where another 200 #jobs are being created.

Poland - Life Sciences in Numbers 📊 1. Poland is a dynamically growing market for medical devices – there are currently over 1000 entities involved in this type of product or having the right type of activity to be a distributor of medical devices. 2. According to the Eudamed database, there are 975 entities in Poland performing the functions of importers, authorized representatives, or manufacturers of medical devices. 3. There are over 5000 entities in Poland involved directly or indirectly in bringing medical devices to market at the production level or through business activities, OEM models, or component production. 4. The market for medical devices in Poland is worth approximately 4 billion USD. Notably, the Polish market for medical devices has a balanced ratio of export to import value. 5. The Polish market for medical devices is supported by the government and benefits from the redistribution of taxpayer funds. Currently, there is a list of so-called medical devices issued by order, with over 140 types of medical devices listed, each with relevant codes (e.g., J.03.01 refers to an elbow joint orthosis). 6. The share of public funds in the price of a medical device cannot be lower than 50% of its financing limit from public funds, as defined in the regulations. 7. Poland currently has over 12 biobanks storing various types of biological material. The IVDR market in Poland is growing but still represents a small share of the overall medical device market – spending on in vitro diagnostic devices does not exceed 20 EUR per capita. 8. Poland has impressive networks of private laboratories and healthcare entities capable of supporting clinical trials for medical devices and clinical performance studies for IVD. Currently, over 2500 diagnostic laboratories operate across Poland. 9. Poland has nearly 30 medical universities, many of which were established in the past two decades. Their activity in the field of medical innovation is supported by approximately 15 clinical research support centers under the supervision of the Polish Government's Agency for Medical Research. Poland's dynamic life sciences sector is on the rise, driven by innovation, local entrepreneurship, and a commitment to global healthcare advancement. 🌱💊 #LifeSciences #Innovation #BusinessRepresentation #BusinessBuilding #Healthcare #Funding #Investments #Poland #Vestango Photo by Grzegorz Maciuk

Medical Supplies Market Worth $163.5 Billion by 2027 ☑️𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:https://lnkd.in/dZXuefdt The global medical supplies market in terms of revenue was estimated to be worth $138.4 billion in 2022 and is poised to reach $163.5 billion by 2027, growing at a CAGR of 3.4% from 2022 to 2027 🔵𝐓𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐟𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 Medtronic Cardinal Health BD Johnson & Johnson Boston Scientific Thermo Fisher Scientific Baxter International Inc. 3M Smith+Nephew Convatec Abbott Merit Medical Systems, Inc. Stryker Terumo Medical Corporation Teleflex Fresenius Medical Care Coloplast Cook Medical Hamilton Medical ACell, Inc. Invacare Corporation Medline Industries, LP Deroyal Industries Shenzhen MedRena Biotech Co., Ltd Kerecis Whiteley 𝐈𝐦𝐚𝐠𝐞: 𝐃𝐞𝐬𝐢𝐠𝐧𝐞𝐝 𝐛𝐲 𝐅𝐫𝐞𝐞𝐩𝐢𝐤

Medical Supplies Market worth $163.5 billion by 2027 Download PDF Brochure:-https://lnkd.in/g7MPvrTf The global medical supplies market in terms of revenue was estimated to be worth $138.4 billion in 2022 and is poised to reach $163.5 billion by 2027, growing at a CAGR of 3.4% from 2022 to 2027. 𝐓𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐟𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 Medtronic Cardinal Health BD Johnson & Johnson, BKK B. Braun Melsungen AG Boston Scientific Thermo Fisher Scientific, Baxter International Inc. 3M Smith+Nephew Convatec Abbott Cook Medical Merit Medical Systems, Inc. Stryker Terumo Medical Corporation Teleflex Fresenius Medical Care Coloplast Hamilton Medical ACell, Inc. Invacare Corporation Medline Industries, LP. Deroyal Industries, Shenzhen MedRena Biotech Co., Ltd. Kerecis Whiteley #medicalsupplies #healthcareproducts #medtech #healthcareinnovation #hospitalsupplies

𝐕𝐞𝐧𝐭𝐢𝐥𝐚𝐭𝐨𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐭𝐡 $5.7 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2028 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:-https://lnkd.in/dhp8DN7j The global ventilators market in terms of revenue was estimated to be worth $4.2 billion in 2023 and is poised to reach $5.7 billion in 2028, growing at a CAGR of 6.4% from 2023 to 2028. 𝐓𝐨𝐩 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 Koninklijke Kentalis ResMed Medtronic Vyaire Medical, Getinge Drägerwerk AG & Co. KGaA ICU Medical, Hamilton Medical GE HealthCare Air Liquide Medical Systems Asahi Kasei Bioprocess Allied Healthcare Products, Inc. Nihon Kohden America Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Skanray Technologies Baxter International Inc. aXcent medical GmbH Metran Co., Ltd. Magnamed Leistung Ingeniería SRL Avasarala Technologies Ltd., Airon Corporation Triton Electronics Ltd Bio-Med Devices Inc., heyer medical AG #ventilators #respiratorycare #medicaldevices #healthcare #criticalcare #healthtech #patientcare #icu #pulmonarycare #medicalequipment #respiratorysupport #hospitalequipment

🚀 Medtech Industry supports the CDSCO's Move Towards Risk-Based Re-classification of Medical Devices. Exciting developments are on the horizon for India’s medtech sector! The Central Drugs Standard Control Organisation (CDSCO) is expected to reclassify more medical devices based on their risk under the Medical Device Rules (MDR), 2017, fostering greater regulatory uniformity and transparency. 🌟 Recent Updates and Implications: Expanded Classifications: CDSCO has updated its list of classifications for 1,178 medical devices across categories like interventional radiology, radiotherapy, oncology, and Class A (non-sterile, non-measuring devices). Dynamic Process: This reclassification will evolve with new innovations and products being manufactured or imported into India. Risk-Based Approach: Devices are categorized by risk (Class A & B: low risk; Class C & D: high risk), ensuring a streamlined process for regulatory approvals. 🔑 Why This Matters: 1. Clarity for Manufacturers: Risk-based classification helps manufacturers prepare better for licensing applications and compliance needs, reducing bottlenecks. 2. Enhanced Transparency and Safety: Harmonized regulations improve the safety and quality of healthcare products available to patients. 3. Collaborative Efforts: CDSCO will host free workshops in collaboration with industry stakeholders like CII, to address gaps and align industry efforts with regulatory needs. Industry leaders like Rajiv Nath Sir, Managing Director Hindustan Syringes & Medical Device Ltd. and Himanshu Baid Sir, Managing Director & Co-founder of Poly Medicure Ltd have praised the move as a step towards regulatory alignment and quality enhancement but also emphasized the need for consistent interpretation of rules across state and central regulators. 🚀 The Road Ahead: The medtech industry looks forward to further clarity and alignment, which will not only support compliance but also foster innovation and efficiency in India’s medical device landscape. #Medtech #MedicalDevices #Regulation #HealthcareInnovation #CDSCO #HindustanHindustanHindustan Syringes & Medical Device Ltd. #PolyPolyPoly Medicure Ltd

Medical Supplies Market Worth $163.5 Billion by 2027 ☑️𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:https://lnkd.in/dZXuefdt The global medical supplies market in terms of revenue was estimated to be worth $138.4 billion in 2022 and is poised to reach $163.5 billion by 2027, growing at a CAGR of 3.4% from 2022 to 2027 🔵𝐓𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐟𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 Medtronic Cardinal Health BD Johnson & Johnson Boston Scientific Thermo Fisher Scientific Baxter International Inc. 3M Smith+Nephew Convatec Abbott Merit Medical Systems, Inc. Stryker Terumo Medical Corporation Teleflex Fresenius Medical Care Coloplast Cook Medical Hamilton Medical ACell, Inc. Invacare Corporation Medline Industries, LP Deroyal Industries Shenzhen MedRena Biotech Co., Ltd Kerecis Whiteley 𝐈𝐦𝐚𝐠𝐞: 𝐃𝐞𝐬𝐢𝐠𝐧𝐞𝐝 𝐛𝐲 𝐅𝐫𝐞𝐞𝐩𝐢𝐤

India's medical device sector faces multiple challenges, including a fragmented regulatory framework, import dependency, inconsistent standards, and bureaucratic procedures. Will the new pricing regulations lead to a robust domestic market capable of competing globally? Arunima Rajan finds out. https://lnkd.in/dihWdmWN #healthcare #health #hospital #medicaldevice #medical #medtech #medicaltechnology #pricing

𝐌𝐨𝐧𝐝𝐚𝐲 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 The Indian government is set to introduce a new and unique pricing model for medical devices companies operating in the country. This upcoming change in pricing strategy aims to transform the medical devices industry by making it more innovative and competitive. A recent government report highlighted the need for a unique pricing structure for medical devices in India. The report emphasized that the current pricing approaches used by companies are not optimal for fostering growth and innovation in the sector. The report underscored the importance of pricing in boosting the Indian medical devices industry and making it more attractive for investment. It suggested that a revamped pricing model could help the industry reach its full potential and become a global leader. While the exact details of the new pricing model have not been disclosed yet, it is expected to be significantly different from the current pricing strategies used by medical device companies. The new model will impact how medical devices are priced and sold in the Indian market. It is designed to bring about positive changes in the industry and make it more dynamic and innovative. The primary goal of the unique pricing model is to foster innovation and growth in the medical devices sector in India. By introducing a new pricing structure, the government aims to make the industry more competitive and attractive for investment. The new pricing model is also expected to benefit consumers by making medical devices more affordable and accessible. This could lead to improved healthcare outcomes and better access to advanced medical technologies for the population. Essentially, the upcoming unique pricing model for medical device companies in India represents a significant shift in the industry's pricing strategies. While the exact details are yet to be revealed, the new model is expected to drive innovation, boost competitiveness, and improve access to medical devices in the country. https://lnkd.in/gdfJNsv2  #medicaldevices #regulations #pricing #strategy #pharmaceuticals #insights #healthcare