Medical Device Manufacturing

Precision medical equipment

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Medical Device Manufacturing
Medical Device Manufacturing
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Health Care
Medical Technology
Business Model Description

Invest in B2B or B2C models engaged in manufacturing of medical devices or for scaling up an existing facility to cater to local and export demand. The medical devices could include Respirators, Monitors, Ventilators, and allied instruments, Personal Protection Equipment, Dental Veterinary Instruments and Appliances, Orthopedic Appliances, X-Rays, Radiography/ Radio Therapy Apparatus, Dialysis Machines and the like. Examples of active initiatives and companies in this space are:

GISD Alliance is a group of 30 high-powered business leaders from all over the world. In April 2021, Medical Device Development Centre was pitched by GOP to GISD Alliance for investment as a joint venture. Although local manufacturing is limited but can be scaled up as a necessary upgrade from the traditional surgical industry. (13)

PharmEvo, started in 1999, is a company in the business of developing, manufacturing and marketing high-quality products. Driven by its core values, PharmEvo has started Socially Responsible Marketing in Pakistan. With 20+ medical devices produced locally and other ventures in healthcare sector by PharmEvo, the company exports to 15 countries. (14)

Expected Impact

Increase penetration of healthcare delivery at by improving domestic manufacturing and distribution of medical devices and equipments.

How is this information gathered?
Updated: 3 May, 2023 Date of Production: 19 Apr, 2023
Pakistan
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
20% - 25% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 100 million - USD 1 billion
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Responsible Consumption and Production (SDG 12) Industry, Innovation and Infrastructure (SDG 9) Gender Equality (SDG 5)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Climate Action (SDG 13) Clean water and sanitation (SDG 6)

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Sector Sources
  • 1) Finance Division. 2021. “Health and Nutrition.” Pakistan Economic Survey 2021-2022. https://www.finance.gov.pk/survey/chapters_21/11-Health.pdf. Accessed 28 March 2023. 2) Ministry of Commerce. 2021. Strategic Trade Policy Framework (STPF) 2020-2025. https://tdap.gov.pk/wp-content/uploads/2022/01/STPF-2020-25-1.pdf. Accessed 28 March 2023. 3) World Economic Forum. 2022. “Access to Healthcare: Why We Need to Prioritize Women and Girls.” https://www.weforum.org/agenda/2022/05/access-to-healthcare-prioritize-woman-and-girls/. Accessed 28 March 2023. 4) UNDP (United Nations Development Programme). 2022. “Pakistan: Flood Damages and Economic Losses over USD 30 billion and Reconstruction Needs over USD 16 billion.” UNDP press releases. https://www.undp.org/pakistan/press-releases/pdna-pakistan-floods. Accessed 28 March 2023. 5) BOI (Board of Investment). https://invest.gov.pk/node/1678. Accessed 28 March 2023 6) Ministry of Commerce. 2021. Policies. https://tdap.gov.pk/wp-content/uploads/2022/01/STPF-2020-25-1.pdf. Accessed 28 March 2023. 7) UNDP (United Nations Development Programme). 2021. “Sustainable Development Goals Framework For Sindh.” https://procurement-notices.undp.org/view_file.cfm?doc_id=277185#:~:text=As%20the%20first%20step%20towards,Decent%20Work%20and%20Economic%20Growth. Accessed 28 March 2023. 8) WITS, Therapeutic respiration apparatus; ozone, oxygen, aerosol therapy apparatus; artificial respiration or other therapeutic respiration apparatus imports by country in 2021. https://wits.worldbank.org/trade/comtrade/en/country/ALL/year/2021/tradeflow/Imports/partner/WLD/product/901920. Accessed 28 March 2023. 9) UNDP (United Nations Development Programme). 2021. “Womenomics Women Empowering the Economy.” Development Advocate Pakistan, Special Edition, March 2021. https://www.undp.org/pakistan/publications/womenomics-women-powering-economy-pakistan. Accessed 28 March 2023. 10) Ethical Trading Initiative. 2019. Labour Standards in Pakistan’s Surgical Instruments Sector: A Synthesis Report. https://www.ethicaltrade.org/sites/default/files/shared_resources/Labour%20standards%20in%20Pakistan’s%20surgical%20instruments%20sector_2.pdf. Accessed 28 March 2023. 11) International Trade Administration. 2022. “Pakistan - Country Commercial Guide Health Care and Medical Equipment: Investment Opportunities.” https://www.trade.gov/country-commercial-guides/pakistan-healthcare-and-medical-equipment. Accessed 28 March 2023. 12) Export.gov. 2019. “Healthcare Resource Guide: Pakistan.” https://2016.export.gov/industry/health/healthcareresourceguide/eg_main_108609.asp. Accessed 28 March 2023.
IOA Sources
  • 13) Daily Times. 2021. “Pakistan a Key Partner in Current $400 billion Global Medical Device Industries: Chairman FPCCI.” https://dailytimes.com.pk/744773/pakistan-a-key-partner-in-current-400-billion-global-medical-device-industries-charmin-fpcci/. Accessed 28 March 2023. 14) Pharmevo. 2022. “Global Presence.” https://pharmevo.biz/global-presence/. Accessed 28 March 2023. 15) International Trade Administration. 2022. “Pakistan - Country Commercial Guide Health Care and Medical Equipment: Investment Opportunities- Overview of Industry.” https://www.trade.gov/country-commercial-guides/pakistan-healthcare-and-medical-equipment. Accessed 28 March 2023. 16) Fortune Business Insights. 2022. Medical Devices Market Size. Share COVID-19 Impact Analysis. by Type. by End-user. and Regional Forecast 2022-2029. Market Research Report. https://www.fortunebusinessinsights.com/industry-reports/medical-devices-market-100085 Accessed 29 March 2023. 17) Global Value Chains. “Linking Economic, Social and Environmental Development.” https://gvcc.duke.edu/wp-content/uploads/PakistanMedicalDeviceGVC.pdf. Accessed 28 March 2023. 18) I’ons, G. 2021. “ Driving Sustainability in Medical Device Production.” Healthcare. https://healthcare-digital.com/medical-devices-and-pharma/driving-sustainability-medical-device-production. Accessed 28 March 2023. 19) WHO (World Health Organization). 2022. “The Gender Pay Gap in the Health and Care Sector a Global Analysis in the Time of Covid-19.” 13 July 2022. https://www.who.int/publications/i/item/9789240052895 Accessed 29 March 2023. 20) Federal SDGs Support Unit. 2022. Pakistan’s Voluntary National Review 2022. https://www.sdgpakistan.pk/uploads/pub/VNR_2022_Pakistan_Report.pdf Accessed 29 March 2023. 21) Ministry of Planning Development and Reform. 2014. Pakistan 2025. https://www.pc.gov.pk/uploads/vision2025/Pakistan-Vision-2025.pdf Accessed 14 April 2023. 22) International Trade Administration. 2022. “Pakistan - Country Commercial Guide Health Care and Medical Equipment: Investment Opportunities- Impact to economy.” https://www.trade.gov/country-commercial-guides/pakistan-healthcare-and-medical-equipment. Accessed 28 March 2023. 23) Drug Regulatory Authority of Pakistan. 2022. “Medical Devices Establishment Licenses.” https://www.dra.gov.pk/therapeutic-goods/licensing-and-inspections/medical-devices-establishment-licenses/ Accessed 28 March 2023. 24) BOI (Board of Investment). 2021. “Incentives in Special Economic Zones.” Special Economic Zones Incentive Package. https://invest.gov.pk/sez#gallery-1 Accessed 28 March 2023. 25) SMEDA. “Surgical and Medical Instruments-Prefeasibility 2023”. https://smeda.org/index.php/business-facilitation/smeda-downloads/pre-feasibility-studies/category/145-health-and-medical. Accessed 28 March 2023.