Collaboration with Oslo Medtech in developing an Indian market entry strategy

Transcription

1 Collaboration with Oslo Medtech in developing an Indian market entry strategy Ambika Oberoi IN New Delhi

2 Contents Collaboration with Oslo Medtech Need for an India strategy Our experience so far Planning our next steps

3 What comes to your mind when someone says India?

4 And then What is the healthcare sector like in India? Is there business potential for my Company? Who are the key players? What is the nature of competition? What are the challenges? How do I prepare? Who do I contact?.

5 You read, speak with people, look for other sources of information

6 Advantage India Cost advantage Strong technology focus Vast opportunity in R & D 6th largest market globally Strong demand-> Growth Skilled workforce Policy support

7 In-patient Out-patient High % surgical interventions Mainly Pharma 80 Specialist OPD; 8 Specialist consultati on; 20 Healthcare Market by Revenue Home care; 0,7 Diagnostic labs, Others; 10,1 Neuro; 2,8 Derma; 2,8 Gastro; 5,6 Urology; 1,1 Other gynaec; 2,2 GP care; 8,9 Private hospital; 23,5 Corporate & super specialty chains; 1,5 Infectious diseases; 17,1 Orthopaedics; 4 Trauma care/injury; 5,9 Ophthal/dental/ Renal, 2.6 Respiratory; 2,4 Maternity & infant care; 3 Oncology; 6,2 Public hospital; USD bn Cardiovascular/ hypertension/ diabetes, 14.3 Revenue by location of care Revenue by disease Source: BCG

8 Diagnostic Market Market size of USD 7.2 billion 20% CAGR through 2022 Highly fragmented ~10% in organised segment (hub and spoke model) Size of diagnostic market (USD billion) Diagnostics split Source: Fortis

9 Medical Devices Currently 4 th largest market in Asia with 700 medical device makers and ranks among the top 20 globally Market breakup (est. 2017): Medical & diagnostic equipment- 56%, Medical implants-25%, Medical disposables and supplies-19% High-tech medical & diagnostic equipment and medical implants are dominated by multinationals; low to medium-end medical disposables and supplies are dominated by domestic players USD billion Medical devices by 2025 Estimated market sizeo 2014: USD 5.8 billion o 2016: USD 7.8 billion CAGR of 15.5% Source: Grant Thornton, Indian 9 Semiconductor Association, CII-BCG, RNCOS

10 That s good to know but where do I start? I need to have a Market Strategy!

11 What we do Government Industry/trade associations Industry experts Research, academia Experts for legal, tax, IPR etc Healthcare players hospitals, diagnostics, manufacturers, suppliers/ distributors etc. Network building with key partners Identification of business opportunities Market strategy Participation of Norwegian companies in key industry events Understand policy framework- regulatory processes Study trips IN experts in India, H.O., D.O. Embassy Local network Health sector network in Norway India as an emerging market offering significant business opportunities to Norwegian businesses Norway has proven strengths in medical technology, health IT, NCDs Norwegian healthcare model can offer tremendous learnings for India Networking Regular exchange of market developments, business opportunities Industry events Networking events Embassy Delegation visits Social media Norwegian companies that are ready to internationalize in India Focus areas : o Medical technology -health IT, diagnostics, medical devices, telemedicine o Enterprises with offering in NCDscancer, neuro, ortho, cardiac, diabetes Work hours Seminars/exhibitions -> Revenue for Norwegian companies through business generation

12 How can IN and Oslo Medtech assist you? Some of our activities in the last few months: Indian Presidential visit to Norway, Oct Health sector meetings organised Business Network for healthcare sector set up Networking event on healthcare in India coinciding with Norway-Asia Business Summit, April 2015 Speaking opportunity at industry events in India- profile Norwegian medtech sector in India Leverage IN s strong local network: follow-up on business leads, facilitiate next level of talks, for instance, setting up of pilots Door opener to Indian government, senior decision makers of Indian healthcare players Regular interaction between Oslo Medtech and IN: one-to-one meetings with companies during Norway visits Ongoing exchange of information on industry events, business opportunities

13 Planning our next steps Market analysis and assessment of business opportunities in India for Oslo Medtech members-> study on focus areas of cluster members Report findings to be shared through workshop Organise visit to India to participate in healthcare event, network with Indian industry and government, B2B meetings with relevant industry/government organisations, mini seminar on doing business in India Understand how to do business in India through videoconferences with Indian experts on topics such as legal, tax, regulatory, IPR Explore Indian healthcare companies visit to Norway Assist companies with developing business model, market entry strategy including legal set up, finding partners, reaching out to industry/government, profiling/showcasing expertise, market insight, among other areas.

14 For additional information, you can reach me at: Ambika Oberoi Market Advisor IN New Delhi M: