News: Philips looking to make medical equipment in India
(TNN 26/07/2006) Kolkata - Philips Electronics is exploring opportunities to manufacture some of its medical equipment brands in India.
Philips has undertaken a feasibility study and is exploring several options to kick-start the manufacturing process of certain key products which have reached the critical mass in Indian market.
Philips has short-listed a portfolio of cash cow products such as ultrasound, ECG, patient monitors and X-Ray machines for production in India. “We may also look at manufacturing some of the hi-end patented products which are in the global pipeline,” said Anjan Bose, MD, medical systems, Philips Electronics India.
Philips is looking at various models of manufacturing the products. “We may set-up a greenfield venture or may even start with an OEM approach. We soon hope to arrive at a final decision on the proposed model,” Mr Bose said.
Philips globally makes bulk of its medical equipment at Netherlands, Germany, Finland, Israel, China and the US. The proposed facility in India will act as the hub for the Indian sub-continent. Philips saw phenomenal growth in its medical equipment business in India, post global re-positioning of the brand to ‘Sense and Simplicity’.
“The new positioning is much more than just our brand promise. Our product portfolio already includes many examples of how we are making simplicity the goal of our technology,” said Mr Bose.
The medical system division in India, which grew by 41% last year, has recorded growth of about 46% in the first half of the present fiscal (January-June). “We have about 50% market share in the patient monitoring system and market leadership in certain other segments like Cath Labs, CT Scan and hi-end MRI machines,” Mr Bose said.
The Indian subsidiary accounts for about 8-10% of Philips’ total medical equipment business in Asia. The division also contributes about 20% of Philips over-all turnover in India, making it the company’s second largest contributor to sales after consumer electronics.
The size of the Indian medical equipment and accessories market has been estimated at Rs 2,000 crore, growing at 12-15%. The prominent players in the market are Philips, GE, Siemens and Toshiba.
Philips has undertaken a feasibility study and is exploring several options to kick-start the manufacturing process of certain key products which have reached the critical mass in Indian market.
Philips has short-listed a portfolio of cash cow products such as ultrasound, ECG, patient monitors and X-Ray machines for production in India. “We may also look at manufacturing some of the hi-end patented products which are in the global pipeline,” said Anjan Bose, MD, medical systems, Philips Electronics India.
Philips is looking at various models of manufacturing the products. “We may set-up a greenfield venture or may even start with an OEM approach. We soon hope to arrive at a final decision on the proposed model,” Mr Bose said.
Philips globally makes bulk of its medical equipment at Netherlands, Germany, Finland, Israel, China and the US. The proposed facility in India will act as the hub for the Indian sub-continent. Philips saw phenomenal growth in its medical equipment business in India, post global re-positioning of the brand to ‘Sense and Simplicity’.
“The new positioning is much more than just our brand promise. Our product portfolio already includes many examples of how we are making simplicity the goal of our technology,” said Mr Bose.
The medical system division in India, which grew by 41% last year, has recorded growth of about 46% in the first half of the present fiscal (January-June). “We have about 50% market share in the patient monitoring system and market leadership in certain other segments like Cath Labs, CT Scan and hi-end MRI machines,” Mr Bose said.
The Indian subsidiary accounts for about 8-10% of Philips’ total medical equipment business in Asia. The division also contributes about 20% of Philips over-all turnover in India, making it the company’s second largest contributor to sales after consumer electronics.
The size of the Indian medical equipment and accessories market has been estimated at Rs 2,000 crore, growing at 12-15%. The prominent players in the market are Philips, GE, Siemens and Toshiba.
posted by InCar Group Press Room at 13:52
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