Auxein Medical: Contributing in a better tomorrow
Auxein Medical: Contributing in a better tomorrow
The Health Care Industry's most integral part is medical devices. American athlete, actress Aimee Mullins was born with a medical condition which resulted in amputation of both her legs famously said that, 'At some point in every person's life, you will need an assisted medical device – whether it's your glasses, your contacts, or as you age and you have a hip replacement or a knee replacement or a pacemaker. The prosthetic generation is all around us.'
The history of medicine marks its origins as far back as to the stone age in the form of herbal medicine. Birth of Hippocrates (Greek physician and founder of the first university) in 460 BCE and his contributions to medicine world based on objective observation and deductive reasoning is deemed as the most important milestone of medicine history timeline. His impact is so profound that in modern times the Hippocratic oath is taken by physicians followed by the fundamental principle of "nil nocere" — do no harm. The early examples of surgical instruments are used during the time period of Sushrata around last centuries of BCE (No consensus among Historians about exact time period). The construction of magnifying glass in 1250 AD by Roger Bacon helped the surgical efforts. The modern outlook to the production of medical devices came in the post-Industrial revolution period. As the technology developed, medical devices too followed the course to cater to the then health needs of the society.
The medical device industry makes a varied number of products ranging from surgical gloves to artificial joints to imaging equipment and helps develop new technology to enhance the ability to diagnose and treat the ailment. The industry comprises a small number of large, diversified companies and a large number of smaller companies involved in research and development for specific therapeutic areas.
Of all the issues pertaining to health care, the conditions revolving around the musculoskeletal system comes under the purview of Orthopaedics. The word Orthopaedics is derived from the French word Orthopedie which is derived from the Ancient Greek word ὀρθός orthos ("correct," "straight") and παιδίον paidion ("child"). Although, the history of dealing with problems of the musculoskeletal and the developments in Orthopaedics goes back to the middle ages when the war-time experiences helped bring major advancements in the domain. During the period of First World War few individuals like Hugh Owen Thomas and his nephew, Robert Jones made major contributions to expand the domain into the general treatment of musculoskeletal problems.
The strong desire to make a difference and improvement in people's lives and the opportunities laden by liberalization process motivated Ashok Luthra to incept Auxein Medical. They want to improve people's lives through their orthopaedic implants that exceed the highest expectations of their customers in terms of Quality and Safety. Ashok began manufacturing products in a small one-room engineering equipment manufacturing unit with virtually no experience in entrepreneurship. The quality and finesse of the products made his surgeon friend urge him to enter the specialized and niche domain of Orthopaedic Implants. This persuasion resulted into the start of Delhi's first ever production unit specialized in manufacturing Austin Moore Prosthesis in 1996 under the appellation "Crown Plastic." Soon it established itself as a brand and found a following in National Capital Region's top clinics, nursing homes, and hospitals.
After making inroads and waves in the clinics and hospitals in domestic market (NCR) for three years, the firm made major additions by incorporating Ashok Luthra's two elder sons Deepak and Gaurav Luthra in 1999 leveraging their respective areas of expertise in Business management and technology to watch company grow day by day along with increasing team size and state-of-the-art facility which produced a very broad range of Trauma-based Orthopaedic implants for the growing domestic market.
In 2008, the enterprise witnessed yet another wave of fresh energy when the youngest son Rahul Luthra returned after completing higher studies in Australia and New Zealand. He joined the family business with a vision to GO GLOBAL with his competent team of young collaborators, innovative medical and marketing minds which are facilitating the bringing up of an era of modernization and international expansion. This was the birth of Auxein Medical in its current avatar, an indigenous enterprise with world-class systems, a global footprint and a futuristic vision.
Auxein Medical became a leading manufacturer & exporter of a broad range of Orthopaedic Implants & Medical Equipment available 70+ countries while associating with 100+ partners. Auxein Medical was accredited with an ISO 13485:2016 certification to produce 1000+ variety of Quality, Research-based affordable generic Orthopaedic Implants that are trustworthy products for various Healthcare Professionals and patients across Geographies.
Currently, firm's dedicated team of experts are placing special emphasis on the commitment made to their clients and winning the trust of their prospective new clients. Auxein Medical has made their facilities compliant with necessary regulatory norms and striving to adhere to the strictest standards in Quality control, Design & Development, Prototyping, Packaging, and Sterilization with all the important and pre-requisite certifications.
The firm has received various certifications like: –
- ISO 13485 for International Standard for Medical Devices
- USFDA 510k from US Food &; Drug Administration Approved
- CE, Compliance with European Guidelines (For Implants, Surgical Instruments & External Fixator)
- WHO GMP Certificate
- ISO 9001
- Export House Certificate
- Drug Licence (Indian version of FDA)
- GMP Certificate
The uniqueness of the firm
Indian medical device industry is growing steadfastly with a CAGR of 15.8%, which is more than the global MD industry, according to a market research report by Invest India. The firm's management has employed various measures such as Advanced and innovative devices, Compliance of national and international regulatory standards, Reasonably price with better service, World class manufacturing technology, Device safety & Performance and User training from expert Surgeon to match the growth rate of the industry and to lead the market.
The manufacturing process of these precision products involves sourcing of raw materials from top quality providers ensuring international safety and hygiene assessments. The firm routinely collaborates with R&D teams from IIT labs and CSIR to improve product design. In firm's prototype production process, product parts undergo numerous functionality tests before they are deemed fit for mass production. The firm employs CAD/CAM/CAE programs to provide the most effective solutions to their clients. The organization's production processes are designed to offer their partners the maximum flexibility to incorporate their special requirements in keeping with international quality control parameters. The firm's color anodizing process takes into account environmental conditions, voltage values, waiting time, redactor sensitivity, solution rate, and operator experience to give their products a lasting finish. Designed to ISO 14644-1 norms, under category Class 10000, Auxein Medical's clean rooms offer possibilities for adapting to special requirements. The firm's facilities are well-equipped to carry out every stage of sterile and non-sterile packaging operations with maximum speed and minimum error.
The firm witnessed Grand Success in the corporate events at SCHOT 2018 Chile, MEDICA 2018 Düsseldorf / Germany, FEMECOT 2018 Merida, Mexico, FIME 2018 – Orlando, Florida, United States.
Upcoming events are
- Arab Health from January 28, 2019 – January 31, 2019, Dubai, United Arab Emirates.
- AAOS 2019 from March 13, 2019 – March 15, 2019, Las Vegas, Nevada
- FIME 2019 from June 26, 2019 – June 28, 2019, Miami Beach Convention Center, Miami Beach
Auxein Medical Management's view on the Medical Devices Market structured in India and its evolution
The medical device industry in India can be segmented in the following categories such as Diagnostic imaging, Consumables, IV diagnostics, Patients aids, Orthos and Prosthetics, Dental Products & amp; and other verticals. Auxein Medical's primary purpose of existence lies in actively manufacturing and exporting the Orthos and Prosthetics segments.
The company witnessed an exemplary growth rate of 25% in recent years and became one of the leading organizations in the medical device supply category due to the adoption of a unique approach to ensure quality and some of the in-house designed and developed product range.
The firm designed its first Metal 3d Printed Patient-specific implant (Maxillofacial region) in India with coordination PGI Chandigarh & amp; after that Auxein medical have designed few more Patient-specific implants for its reputed clients in India and foreign countries.
Below is the info graph depicting the data regarding the share of each category of Medical Devices Market from last few years to estimated growth in upcoming years.
Auxein Medical was founded under the auspices of Ashok Luthra. According to Ashok, every individual in their enterprise is driven by the motivation to heal people. As an Indian organization, it is a moment of pride to showcase Auxein Medical's capability in delivering excellence every time.
Deepak Luthra a commerce graduate from the University of Delhi is currently the Managing Director of Auxein Medical. The firm is consolidating its learning across the ranks to make their systems more efficient and fool-proof. The firm has adopted best practices across the world along with pioneering methods that take India's unique social environment into consideration with a strong emphasis on quality and hygiene. They are heavily invested in training to make their people stay abreast of the latest norms and best practices, which inform their ideas as well with a keen eye on every detail. No product leaves their stable before getting satisfied.
Gaurav Luthra apprenticed on the factory shop floor for four years to understand the fundamentals of production under the guidance of an old-school guru. Gaurav is very passionate about technology and machinery with an ardent belief in the power of modern science. He is a proven leader with experience in medical product development, program and product management, and research & engineering. His specialties are Product development, program management, Orthopaedic, Orthopaedic Implants, project management, software engineering, and hardware engineering. Currently, he holds the portfolio of Technical Director in the organization.
Rahul Luthra heads the International Sales department. He is a graduate of Business Studies from Massey University. He hopes to progress toward proprietary innovations that involve working closely with medical professionals for breakthroughs in intuitive, cost-effective, and more personalized care. Rahul has profound knowledge in export sales matters and experience in building up export-organizations and business. He is responsible for top key account customers and internal/ external sales team. His specialties are Business development, Customer acquisition, Negotiation, Product Marketing, Branding, Consulting & Sales.
The Road Ahead
In developed nations, the healthcare industry is a major part of the country's economy. The global expenditure on healthcare expects to reach $ 9.5 trillion. According to a report by IBEF (India Brand Equity Foundation) the Indian health care Industry is projected to reach $ 372 bn by 2022. Recently, the government of India launched the world's largest government-funded healthcare system, Ayushman Bharat last year in September.
Globally, the government spending amounts to 55% of the total expenditure on health and private spending was accounted for the remaining 45%. In South Asia the scenario is different, the private players hold the majority share of the health care market. The global medical device markets are expected to reach $409.5 billion by 2023 and forecasted to grow at the CAGR of 4.5% from 2018 to 2023. The current market size of Indian medical device industry is $5.2 billion and is expected to reach $50 billion by 2025 at a CAGR of 15.8%, vis-à-vis a CAGR of 4.1% for the Global medical devices industry. Among all Orthopaedic prosthetics and patient aids, segments are the two fastest-growing verticals and are projected to grow at a CAGR of 9.6% and 8.8%, respectively, according to a market research report published by Invest India.
In the Greek language, Auxein means 'to grow,' and they are growing with an emphasis on product quality and close relationships with every partner. Over the past years, Auxein Medical witnessed a rapid expansion in customer base attracted by the distinguishable quality and value advantage delivered by their generic orthopaedic implants. They got many opportunities to provide OEM services to leading names in the industry. Upon a strong foundation of proven customer satisfaction, Auxein Medical is covering 70+ countries and aiming to connect with more customers globally along with building a world of exciting possibilities in R&D, Innovation, Customization, and education.
A piece of advice for future leaders entering the medical device industry
Medical Device Industry is enormous in size and is accelerating with rapid force and is playing a key role in making India healthier and stronger. The experienced management's advice for future leaders before entering into the medical device industry is to consider the following points: –
▪ A proper understanding of market requirements
▪ Proper Product Knowledge
▪ Knowledge about government rules and regulations
▪ Knowledge of manufacturing and testing processes of medical devices is required
▪ Quality Management & Material Management