MEDICAL DEVICES’ GLOBAL R&D PRESENCE
The expansion of R&D talent footprint globally over the past 4 years is rapid, with India and Bay Area emerging as the hotspots. The medical devices’ industry is aggressively expanding its global presence by investing in R&D centres. The R&D investments in India and China have been growing at a rapid pace thanks to their competitive advantage. Companies are leveraging the opportunities at these locations to develop imaging and non-imaging diagnostic solutions.
The Bay Area is also fast emerging as one of the top hubs in this sector. With tech giants building software-centric solutions, the area is well on its way toward becoming a rich medical device hub. Thermo Fischer and GE Healthcare have opened software COEs in the area. Suzhou and Shanghai are at the heart of China’s R&D growth. Fresenius, Medtronic and Thermo Fischer are amongst the top medical devices’ companies that have opened multiple R&D centres in China. India’s GICs are highly empowered allowing them to engage in strategic partnerships with vendors. Medicaldevices companies are primarily investing in Bangalore and NCR.