Economic Impact, Healthcare Initiatives, and Research Funding

Abstract

The potential economic and societal impact have driven significant research programmes on biomaterials and implants over the last few decades globally. However, the outcome has not yet been too significant in India, as more than 80% of the implants used in Indian hospitals are still imported! It is therefore important to consider the market value of implants and the quantum of business related to the field of biomaterials. In this context, this chapter introduces the potential economic impact of the indigenous development of high-quality biomedical implants, which also drives many national policies to facilitate translational research. Against this backdrop, governmental funding agencies have started several new initiatives. This chapter discusses the above aspects and briefly mentions the international status also. In addition, the present status of medical and bioengineering education is briefly mentioned.