The Indian healthcare landscape has achieved notable successes, over the years now. The country is the pharmacy of the world; doctors and nurses from India have excelled and distinguished themselves across the US and Europe; private hospitals provide healthcare to almost 70 percent of India. Yet, the medical devices industry is small in India and needs to be strengthened. As per the study, the medical devices market in India is expected to reach Rs.4,358.64 Billion by FY 2027, expanding at a compound annual growth rate (CAGR) of 41.93 percent during the FY 2023-27 period. Well, an increasing number of multinational companies are establishing their presence in India to boost this market, but our strive to Make-in-India can be accomplished only if we do not rely on foreign markets but manufacture medical devices in-house in India.
By undertaking this significant opportunity to elevate the Indian medical devices market, NICE NEOTECH MEDICAL SYSTEMS - a Chennai-based Medical Device manufacturer specializes in Neonatal Intensive care devices & Respiratory care devices and endeavors to meet the complex and intricate medical care requirements. As the top creator in this segment, NICE NEOTECH today is one of India’s largest single manufacturers of medical devices with over 150+ products in its journey of surpassing 25 glorious years of providing healthcare excellence.
Entrenched in 1997, NICE NEOTECH MEDICAL SYSTEMS is a conscious initiative of P. Wilson (a Bachelor of Engineering from CEG – Anna University) and Sheeba Wilson (Master in Economics from Madras University), the Co-Founders of the firm which was ideated to manufacture world-class products in India to serve the community. There are two things that P. Wilson strives for. One is succeeding in the business and the other is succeeding in pursuing the self-passion. For many where business is multiplying profits by developing the same thing over and over again, P. Wilson never laid emphasis on increasing the business portfolio, instead, he strives to multiply the product portfolio and let it proliferate eventually through time, whatever means it be.
“Our primary motive through 25 years in the industry now has been to stay grounded in our business, and to expand our presence in developing all possible ranges of critical care equipment.” We look forward to continuously including many more products in our ranges as we wish to grow serving multiple needs of the industry.
We have a long list of products under Neonatal Care, Respiratory Care, Disposable Accessories, and Multi-use Accessories which are cent percent made in-house.
We do not believe in outsourcing or re-labeling or licensing to marketing products under our brand. We have our niche way of establishing ourselves being the first manufacturers of Mechanical Air Oxygen Blenders and Respiratory Humidifiers in India matching world-class standards, with higher performances and very valuable for its affordable rates. Hence for me, NICE NEOTECH is entirely a way of giving back to the community in a more effective way, and being dedicated to solving the purpose backed by good engineering technology in this growing era”, states P. Wilson, Founder & Managing Director of NICE NEOTECH.
Furthermore, while the challenges are almost routine in the industry, they have only helped strengthen NICE NEOTECH through the years. Generally, it is always a positive fact for an existing monopoly (in certain sectors or verticals) when there is no competition, but as NICE NEOTECH has to push its level of standards higher on this part while easily being compared to multiple competitors respective of its existing devices, building the initial trust amongst the users has been a sort of a task. Also, the second is the manufacturing support in India. The new MDR regulation and the lack of an authorized notifying body in India are worrying points. In fact, there’s nothing at all for certain classes of products, especially in terms of product testing. Well, the recent CDSCO aspect has come into regulatory play, and with everything starting up now, definitely there is a scope for better organized future.
NICE NEOTECH always looks to metamorph any product and would ensure to keep it upgraded by all possible means
However, in the beginning, it is obvious to be turbulent. Third is the business challenge that implies the resources (human resources). As this is a hardcore manufacturing facility, and the whole world is starting to move around the software and more, the essence of human labor is always powerful which is seldom realized. Though the growth phase may sometimes take up a little toll on those efforts and people judge their own abilities even before knowing what they are capable of. And, obviously, when these said factors come to a point, that would sum up everything.
P. Wilson always motivates his team members to do more and give in their all. As APJ Abdul Kalam once quoted ‘Dream is not the thing you see in sleep but is that thing that doesn't let you sleep’, P. Wilson substantiates this with his passion for the Medical care landscape’s evolution. Being the Engineering brain that he is behind NICE NEOTECH, he works until perfection for the successful launch of a product. Not many CEOs or Managing Directors are on the technical side, rather they are on the managerial side. Contrarily, P. Wilson heads the R&D and pioneers every vertical on the technical aspect of the company followed by his relative proficiency and knowledge in the field.
He is driven passionately to the Zero Infant Mortality Rate establishment and building a truly independent India that is self-dependent and able to satisfy every need of the industry, materializing a Make-in-India campaign manufacturing all medical devices in-house. Sheeba Wilson also has a pure ideology of Make-in-India rather than an adulterated version of it. The like-minded leaders are zealous to create leaders in the medical equipment manufacturing industry by giving the participants or employees the space to attempt, learn and grow bearing responsibilities.
“We never micromanage people. We allow them to grow up exploring and learning which automatically builds trust and confidence in our system. Our staff retention ratio is also of a higher level when it comes to percent of control, because of the very same fact. Here age is just a number, anybody who's involved and dedicated no matter what, we treat them equally”, avers Sheeba Wilson, Co-Founder & Director of NICE NEOTECH.
Future Path
Owing to the advancements today, there have been many developments across industries, and the same applies to the Medical device industry as well. Everything has its own gestation period, nothing emerges suddenly. Similarly, to mention, NICE NEOTECH’s recent product – an Advanced Infant Radiant Warmer comes with an IoT-integrated feature which is the first of its kind in the world. We always look to metamorph any product and would ensure to keep it upgraded by all possible means. We brace ourselves every day with a positive thought of developing further more products that are affordable and match all world-class standards.
