Sushant Kinra, Managing Director, Carestream Health India Private Limited
As a leader in medical imaging, we consider our customers to be a vital component in our success. They are our partners in the joint objective of providing the best possible healthcare to the people of India. Hence we are engaged in a continuous effort to understand the customers' needs and the way they evolve with the passage of time. We are here for the long haul, having been in the country since 1991, because we do not just sell equipment, we offer solutions. A good example of this is our MPS or Managed Print Solutions, which enable us to free up the customer's resources by taking over the entire process of inventory management of X-ray films. Many customers have told us that they are delighted with the MPS because it takes a load of administrative work off their system.
Our range of products is very wide, from the Vita Flex CR System, which is a portable, easy-to-install, and self-maintain kind of equipment, to the much larger models that can handle heavy workloads and multiple (film) cassettes online. The spectrum also includes digital radiography, laser imagers, PACS, and dental intra- and extra-oral imaging solutions to X-ray imaging systems for non-destructive testing.
They are designed to cater to every kind of customer, from large hospitals to standalone diagnostic centers and from military applications to the far-flung rural establishments. We are engaged in a continuous R&D effort to improve and develop them even further. This would help us to meet customers' needs, not only at the present time, but also on an ongoing basis.
The medical imaging market is growing at a fast clip, approximately 15 percent annually as compared to just 3 percent in the US and 3.5-4.0 percent in Europe. In India at the present time, we are serving a market worth about USD 250-300 million and we hope to see it become about USD 400 million in the near future.
This would become possible by strengthening our product portfolio as well as expanding the market. For example, we have already started making inroads into the nascent market of veterinary applications. Given the growing popularity of pet dogs and cats all over India, this shows a lot of promise.
Carestream is a global company, present in over 170 countries all over the world and more than 90 percent of medical institutions in these countries use at least one Carestream product. Our technologies are developed keeping customers in many nations in mind, and whenever possible, we introduce new technologies in India along with the worldwide launch. Of course, we have to assess the potential need for a particular technology while planning its introduction in India.
A major area of strength for Carestream is an effective sales and service network, which assures customers that we shall be there for them on the rare occasion that an equipment breakdown takes place. We have a direct presence in all four main regions of the country through four regional offices, which are supported by 33 warehouses and 90 channel partners, not to mention an army of 120 dedicated employees.
Through our network, we have discovered that the demand in Tier-II and Tier-III towns is increasing rapidly as the hospital infrastructure is growing exponentially and all of them are striving to acquire the latest technology available in the market. Many of them are approaching us for supply of different types of equipment, of which the Vita Flex CR System is seeing the greatest demand from the customers.
In the next 5 years, we aim to be the top provider of imaging solutions to the radiologist community, even as we expect their demands to move well ahead of today's requirements. To do this, we shall constantly strive to understand all their problems and issues from time to time and moving forward, we hope to become a one-stop-shop for imaging solutions for everyone.