Initiatives like Ayushman Bharat and Make in India present the opportunity of exploring the medical and surgical device market that is rapidly accelerating beyond Rs. 10,000 crores with a 20 percent CAGR. The ongoing global Pandemic has further increased the use of medical disposables, which owes its influence to the growing awareness of people towards maintaining personal hygiene. This is where Romsons plays an important role.
Kishore Khanna, the Managing Director of Romsons Group of Industries, says, "Romsons was one of the first few companies to introduce the concept of disposable medical devices in India. It was a time when patients were vulnerable to catching infections caused by reusable medical devices, and many would even succumb to it. Today over 60 years later, one can say that the culture of using disposable medical devices is well established in the country, and Romsons has earned the title of Market Leader for the same.
With a global presence in about 80 countries and a professionally managed business worth Rs. 800 crores, the company boasts of a retail footprint of 1500 distributors in India as well as abroad. When it comes to medical devices, Romsons is a brand that doctors trust!"
Care and Quality for Every Deliverable
Kishore further adds, "The Company strives hard to fulfil its motto, sustaining the Life Force." With a desire to sustain life, Romsons boasts a portfolio of around 200 products that diversify into 750 variants to provide a 'One-Stop-Shop' experience to its consumer for all their disposable medical and hygiene needs. With the aim to offer world-quality products at affordable prices, Romsons follows strict quality control standards and has gained recognition from the quality control bureaus in India as well as abroad. The company has state-of-the-art manufacturing facilities spread across various locations in North India, with warehouses and location aids spanning across the length and breadth of the country to ensure timely deliveries.
Romsons has earned multiple awards and recognitions from organisations such as FICCI, CII, and The Chamber of Commerce in India. It has also been awarded special recognition from the Ministry of MSME, Government of India, for its exceptional performance in the disposable medical device industry.
Industry Challenges
Regulatory Requirements are one of the major hindrances for this industry. Kishore states, "Medical Device Industries are regulated under the Drugs & Cosmetics Act. While a drug is a chemical product, the medical device is an engineering product. The stringent rules and legal compliances that govern per se a pharmaceutical company may not be required in the disposable medical device industry. Therefore, there must be a separate Medical Device Act as envisaged by the NitiAayog."
He further adds that the year 2020 arrived with an unprecedented challenge of the COVID-19 Pandemic. The production line and market demand had to suffer a severe choke due to a turbulent market, restricted movements, and limitations on full capacity procurements. Kishore says, "These difficult times also brought in the challenges to innovate speedily, gear up the R&D, and think out-of-the-box to come up with products needed in the country in these uncertain times. Romsons aided to this huge requirement by taking up manufacturing of COVID products, namely, PPE Kits, 3-Ply Surgical Face Masks, N-95 Respirators, Face Shields, Safety Goggles, Isolation Hood, Safe Touch Device, and many more personal care products."
The Roadmap Ahead
The government of India has announced production-linked incentive schemes and the setting up of dedicated Medical Device Parks that will accelerate the growth of the Medical Device Industry in India. Romsons will be targeting exponential annual growth with its fully institutionalised, state-of-the-art manufacturing plants, strong logistics and a well experienced marketing team. It aims at doubling its production capacity by 2023 with its three mega manufacturing units. Kishore concludes, "The vision of Romsons is to transform India's healthcare experience and make the country Atmanirbhar."
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