Finding Entrepreneurial Opportunities in India’s Medical Device Sector through Patent Landscape Analysis

Abstract

The present study explores the opportunities for entrepreneurs in the medical device sector in India using a systematic patent landscape analysis. Currently, India imports about 80 percent of its requirement of medical devices. Identifying entrepreneurial opportunities and promoting entrepreneurship is therefore an essential factor for India to become “Atmanirbhar’’ or self reliant in the medical device sector. There is an urgent need for entrepreneurship and innovation in this field.This study uses, for the first time, the patent landscaping as a tool to explore the potential entrepreneurial opportunities in medical devices. It further delves into the medical device market status in India, patentability and regulatory issues, government initiatives, etc.- giving a snapshot of the promising areas of medical devices for entrepreneurs to venture into.