A year after it launched its first-ever medical device, the company has now unveiled another new product, which is aimed at increasing its presence in India.
The Indian medical device maker ABB said on Wednesday that it has sold around 25 million medical devices to date, and is planning to sell around 500 million to 500 million devices in the next five years.
The company also plans to sell medical devices from third-party suppliers.
“The growth of medical device market is quite dynamic.
It has already crossed 100 million units, which shows how quickly things are changing,” said Ravi Shankar, head of India business at ABB.”
Our products are targeted at the Indian healthcare market and our focus is on healthcare in the short term, which has helped us to achieve our current growth.
India has a growing healthcare population.
We believe we can deliver innovative solutions to this market,” he added.
The company launched its products in India in the second half of 2016, and it has now introduced devices in more than 100 cities and towns.
The products include a wristband, a wrist-worn device that detects when blood is coming from the mouth and a blood pressure cuff.ABB said its medical device business will continue to expand.
“With its first devices, ABB has become a leading supplier of medical devices.
Our customers will continue growing and ABB will be one of the largest suppliers of medical products in the country,” said Vipul Sharma, MD of ABB India, in a statement.