Syntellix Receives Product Approval For India, Opening Fast-Growing Market With 1.38 Billion People

Syntellix CEO Claassen: “The biggest and most important success in the history of the company”

– Indian CDSCO grants approvals for five MAGNEZIX® product families

– The era of magnesium for orthopedics and trauma is now also starting in India

– The subcontinent will be the most populous growth market in the world

– A patient potential already more than three times that of the whole of the EU

– Patient potential almost 17 times greater than on the German domestic market

– Significantly more than half of hospital treatments in the private sector

HANOVRE, Germany, October 7, 2021 / PRNewswire / – india The Central Drugs Standard Control Organization (CDSCO) has granted Syntellix the license to market five different product families of its revolutionary bioabsorbable magnesium implants. Suddenly, this increases access to the global market and the number of potential patients who can be treated with the company’s MAGNEZIX® implants from an additional 1.38 billion people to 3.8 billion people.

“This is by far the biggest and most important success in the history of our company”, comments the founder and CEO of Syntellix, Prof Dr. Utz claassen on news from the Indian regulatory authority, which based its positive decision on product approval of Syntellix implants and instruments, among other things, on the convincing presentation of clinical safety, efficacy and reliability at a panel of Indian experts. The approval of the patent protected MAGNEZIX® implants in what is already the 71st country, moreover with this huge population, is comparable to the ignition of a rocket stage for the entry of the commercial development of Syntellix AG in the exponentialisation phase, says Claassen. The company has taken advantage of the difficult period of the coronavirus crisis to create growth potential in addition to doubling the number of patients accessible since the start of the pandemic thanks to new approvals in various future markets, it adds. he. The game-changing market India, with its exceptionally good physicians and in many cases state-of-the-art hospitals, plays a decisive role in the global substitution of conventional implant technologies in favor of MAGNEZIX® platform technology. Besides, India is ideally suited for collecting additional clinical data and conducting clinical trials and will also significantly contribute to the development of additional new Syntellix products.

The health system of India, which is unanimously predicted to soon become the most populous country in the world, and the country’s medical device market is growing rapidly. Public health expenditure is already expected to increase by a factor of 2.5 until 2025. According to the Ministry of Health and Family Welfare, more than 62% of india hospital treatments take place in private establishments. india The private health sector alone can thus treat up to ten times as many people as Germany in total.

About Syntellix:

Syntellix AG, a multi-award-winning national and international global pioneer in biomedical engineering, materials and life sciences, is the global market leader in the field of metal orthopedic implants based on bioabsorbable magnesium. MAGNEZIX® implants developed by Syntellix are described by experts as beneficial for many clinical applications; according to a published comparative study, they are even “clinically superior” to conventional titanium implants.

Contact details:
Syntellix SA
Aegidientorplatz 2a
30159 Hanover
Germany

T +49 511 270 413 50
T +49 511 270 413 79
[email protected]
www.syntellix.com

SOURCE Syntellix SA

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