The Indian healthcare market was estimated to be $38 billion in 2007with the potential to grow several times in the next few years, and even witht he recession, the total spending in healthcare is expected to grow at a of CAGR17% from 2009 to 2012. Eighty percent of healthcare is privately owned and provided, and therefore, with substantial purchasing power. With the population burgeoning and chronic diseases increasing, there is a huge scope for medical technology to make an impact in Indian markets.There is a very old saying "what the mind does not know , the eye cannot see". There are several brilliant doctors who have issues that can be solved through advances in signal/image processing, biomaterials, information technology and / or instrumentation to name only a few , but sadly, such dexterous engineer is ready to apply his skills to any set of healthcare problem sbut is unable to understand the nature of the problem and sometimes, the issueitself.Billions of dollars might have been saved by nipping unviable projects in the bud. Similarly , some new opportunities in medical technology are certain to beidentified by interdisciplinary students.
MMST students are uniquely equipped here because they possess technical as well as medical knowledge and therefore the capability to indentify technological opportunities and threats early. The MMST student, having an exposure to both the forms of sciences is at an unique position to indentify needs , both at the community as well as at the medical level as well as to suggest solutions to such problems at the scientific level. MMST students are versatile and can learn new concepts and topics and apply them with an ease that comes from years of toil in medicine and engineering.With the current demand for medical devices, diagnostic and therapeutic, home healthcare, and IT at an increase, Med Teach is set to surge, and the MMST student is already an integral part of it in several universities and industries in India as well as aboard. What is more , science identification of need comes naturally to the MMST student because of the diversity of his knowledge,demographic, research and iatrologic market research is another area where the MMST students can fit right in. With proper training, MMST students may become critical assets in investment banking in Medical Technology.