Medical Device Industry Experts Discuss Industry Challenges at ASRT Workshop

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A workshop was held under the auspices of the Academy of Scientific Research and Technology (ASRT), led by Mahmoud Saqr, titled “The Importance of Localization in Medical Device and Laboratory Technology”.

The opening speech was delivered by ASRT Deputy Chairman Amr Farouk. He highlighted the efforts and achievements of the Academy in developing the medical device industry in Egypt.

Mostafa Al-Wakeel, CEO of BioBusiness, moderated the first session, titled “The dilemma of research and development”. He discussed the process of developing and manufacturing medical devices, which should follow the V-model and the return on investment in the case of manufacturing low-tech medical devices, which is very low, but in the case of manufacture of high-tech medical devices, the return on investment becomes much higher.

It should be noted that the volume of expenditure on research and development operations of medical devices over the past year amounted to about 49 billion dollars.

The United States of America tops the list of countries that invest the most in the field of medical devices, accounting for 55% of such investments worldwide, while the share of Europe as a whole reaches 14%. Africa and the Arab region have no investment in this important industry.

Investment opportunities as a technology development service provider Outsourcing for large medical companies instead of working on complete devices, where development departments are often busy with a number of large projects, where investments directed to these types of projects last year amounted to approximately $2.5 billion.

During the workshop, the expected demand for medical devices in the Egyptian market was discussed, as well as the study carried out by former Minister of Health Adel El-Adawy, which raises the status of the medical and service sector. provided to the Egyptian people.

The study indicated that in the coming period, a large number of hospitals, intensive care beds and nurseries should be added so that the national goal of providing good health service to the Egyptian people can be achieved.

This shows that the Egyptian market is a very promising market and that the current situation can be invested in to bring more investment to the health sector, with a plan to develop technology producers and transform them from local market coverage to competition in the international market. .

The workshop set a prescription for the challenges facing the medical device industry in Egypt, where participants agreed to increase spending on research and development in Egypt, and despite the great role played by the Academy of scientific research in this field, there must be more government support in collaboration with the sector Increase investment in research and development because of its importance in the development of the industry in general.

The participants pointed out that there are problems with investments and financing, and that the serious investor is not interested in this type of industry, because the return on this industry is delayed for more than 10 years, as he moves towards high-risk investments in software companies, whose return on investment varies between two and three years.



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