Category — Medical Technology

Startups in India’s Defense Sector Forge Ahead

With the Government of India permitting 100 percent foreign direct investment in India’s defense industry, many startups in India’s private sector have started to design technologies that can be used in manufacturing defense equipment.

Bangalore-based Aadyah Aerospace builds electro-mechanical actuators, control actuation systems and electro-optics systems for missiles and launch vehicles.

Since military equipment can’t always be tested on the field, CM Envirosystems, another Bangalore-based startup designs and manufactures environmental test chambers which simulate real environmental conditions. The company provided these environmental test systems for Agni, India’s ballistic missiles program.

A smartphone with Start Up displayed on it

Samhams Technologies, ideaForge and Omnipresent Robotics are creating better quality drones that can be used in cloudy and foggy environs.

Entrepreneur says that biotech engineer Leo Mavely, founder of Axio realized the importance of the untapped healthcare market in the defense sector. His product Axiostat is a sterile, single-use haemostatic dressing intended to be used for temporary control of moderate to severe bleeding of wounds. Malvey added that the company has supplied these dressings to one hundred battalions in India, and have also shipped around 350,000 units worldwide.

Bangalore-based Tonbo Imaging makes digital imaging systems for equipment such as guns, unmanned aerial vehicles, and battle tanks. It earns nearly 80% of its revenues from the Indian defense services. This startup specializes in products such as advanced night-vision cameras, fire control systems, and advanced weaponry through “nature-inspired technology.”

December 29, 2017   No Comments

Indian Startup Uses Artificial Intelligence to Detect Breast Cancer

NIRAMAI, an acronym for Non-Invasive Risk Assessment with Machine Intelligence, uses thermography and machine learning to detect early signs of breast cancer. Founders of Bangalore-based startup Niramai Health Analytix, Dr. Geetha Manjunath, a PhD in computer science and Nidhi Mathur an MBA from the Indian Institute of Management, Bangalore, developed an AI-led diagnostic platform that uses patented thermal image processing and machine learning algorithms for reliable and accurate breast cancer screening.

Cancer Screening Images by Niramai

Cancer Screening Images by Niramai

This method of screening can detect tumors 5 years before mammography or a clinical exam can. The portable and  screening tool, called SMILE, has been tested on data from 300 patients, and results indicate an accuracy comparable to current diagnostics available. The AI and ML algorithms for the analysis of thermal images have resulted in 2 granted U.S. patents and many more patent applications.

“Our method of breast cancer screening can detect tumors 5 times smaller than what clinical exams can detect, is painless, non-contact and free of any radiation, apart from being low-cost, and universally accessible. With our solution, women of all age groups can undergo frequent screening without any side-effects. We are addressing a huge breast cancer screening market with the equipment market alone expected to reach $4.14 billion by 2021,” says Niramai.

December 18, 2017   No Comments

India’s Healthcare Industry to Reach $372 Bn by 2022

With the growing incidence of lifestyle diseases, and rising demand for affordable healthcare delivery systems, India’s healthcare market will increase three times in value terms to $372 billion by 2022,  says a report prepared by trade association Assocham.
The medical devices market in India, which was valued at $4 billion in 2016, is likely to cross $11 billion by 2022 due to a growing geriatric population, medical tourism, and a gradual decline in the cost of medical services, the survey said.
Healthcare
Other factors for the growth of the healthcare market in India include the adoption of telemedicine, the rapid health insurance penetration, mergers and acquisitions reaching untapped markets, and government initiatives on healthcare, the report noted.

“Increasing expenditure on research and development, rising collaborations between Indian and foreign companies, reduction in product approval time and other such factors are also driving the growth of the Indian pharmaceutical market,” the report added, reports the Press Trust of India.

December 6, 2017   No Comments

Lumensis of Israel Launches Device to Treat Kidney Stones in India

Israel-based medical device company Lumenis Ltd, launched their Moses Holmium technology for urology applications in India. This technology allows surgeons to treat stones in the kidney, bladder, and the urethra that are lodged in difficult-to-reach locations, and enables the smooth initial fiber insertion through a fully deflected scope. The device includes a proprietary combination of the holmium laser system and fibers that optimize holmium energy transmission allowing the surgeon more control regardless of the working distance between the fiber and the stone.

 

Lumensis Lithotripsy Device
“The advent of this new Moses Holmium technology will be a boon for patients and doctors for easier and painless treatments. Bringing the new device is part of our expansion strategy as there have been a record number of patients suffering from urinary stones in India,” said Dharmendra Mistry, Country Head, Lumenis India, reports ET Healthworld.

November 16, 2017   No Comments

OCTANe: SoCal Leads in Job Creation and Med Tech Jobs

According to U.S. Dept. of Commerce data compiled by OCTANe, an Aliso Viejo CA-based organization, Southern California in recent years provided the highest level of job growth in the medical device sector.

Bill Carpou, OCTANe’s president and CEO, presented the statistics during his welcome address at the Medical Technology Innovation Forum. Los Angeles, Orange County, San Diego employed 33,820 people, outpacing other medtech hotbeds such as New York, Northern California, Minneapolis, and Boston:

  • Southern California : 33,820
  • New York: 18,130
  • Boston: 15,204
  • Minneapolis: 14,043
  • Northern California : 11,093

In addition to existing jobs, the region also saw positive job creation. The region created 3,839 jobs. By contrast, other regions actually lost jobs. New York dropped over 6,000 jobs, Northern California lost more than 5,000, Boston lost around 3,000, and Minneapolis lost about 1,000, as depicted in the table below:

Medtech job creation for the two-year period ending 2016. [Data from U.S. Department of Commerce, courtesy of OCTANe]

Medtech job creation for the two-year period ending 2016. [Data from U.S. Department of Commerce, courtesy of OCTANe]

OCTANe also found that the SoCal region filed 365 patents, only slightly outpaced by Northern California which saw 437 patent filings.

OCTANe announced its commitment to long-term job creation in Orange County and has pledged to help create a total of 22,000 jobs by 2025. It also plans to fund 506 companies, participate in 39 liquidity events, and infuse $3.6 billion in capital into regional medtech companies.

November 14, 2017   No Comments