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"Shifting Dynamics of the Health Market: From Traditional Medicines to Innovative Patches"

- Trisha

Abstract – This research paper provides insight into the relative revenue growth and growth drivers of the markets for insulin injections and the wearable glucose patch. The insulin injection market has the benefits of established products and consistent demand. As a result, it has a direct revenue generating model based on sales volume and sales price. The market for wearable glucose patches is new and innovative; therefore, it has a diverse and dynamic revenue generating model based on technology, market regulation, andpatient uptake.

For each market, a theoretical revenue model is constructed based on market size, growth rate, and price. The revenue model for insulin injections is based on cost and market saturation to predict revenue growth. In contrast, the revenue model for the wearable glucose patch incorporates revenue potential, cycles of innovative technology, and market adoption to predict revenue growth.

Key Words: Wearable,Insulin,Patches,Market

1. INTRODUCTION:

Health impacts every facet of life, driving one’s living standards, productivity, and even lifespan. Many people interpret health purely as the absence of disease. According to the World Health Organization, health also includes complete physical,mentalandsocialwellness.Withgreatandrapidchangesoftheworldtoday,includingurbanization,dealingwith obesity, diabetes and other chronic diseases, sustaining wellness permanent vigilance, preventive strategies and sophisticatedhealthcaresystems.

Healthcare systems cannot operate without medical devices. From the most rudimentary cum primary devices like thermometer, stethoscope, and sphygmomanometer, to the most sophisticated ones like imaging system, pacemakers, portabledialysismachines,andhealthtrackers,everydeviceshelpssomeonesomewhereintheworld.Theachievementof moderndevicesmakestheworkofcliniciansandthedemandsofpatientsmoreexact,safer,andmoreefficient.

The provision of medical devices, especially during the COVID-19 pandemic, had to transgress their traditional hospital and clinic settings. Patients and even healthy individual can now use devices to monitor their health forecast. Portable healthmonitoringdevicesandwearablehealthsensorsmakesiteasytotrackhealthpatterns.Preventionhealthcarehas becomeeasyandmoreconvenient.Theshiftofconventionalhealthcarepracticestowardspreventivemeasureshasbeen greatlyfacilitatedbyhealthtechnologies.

2. HEALTH AND MEDICAL EQUIPMENT:

Theintegrationofhealthandmedicalequipmentformstheverybasisofcontemporaryhealthcaresystemsandunderpins prevention, diagnosis, treatment, and rehabilitation. Health equipment refers to an assortment of tools and devices that promotegeneralwell-being,personalhealthtracking,anddailywellness,whilemedicalequipmentisofamorespecialized natureandisprimarilyusedfortherapeutics.Thetwocategoriesareinterdependent,provingthathealthcareisaccessible tothepublicevenoutsideofhospitalsandclinics,andisstreamlinedintoeverydaylife.

Healthequipmentcomprisesdevicesthatmonitorhealth,likethermometers,fitnesstrackers,digitalweighingscales,and pulse oximeters, which encourage the individual to become conscious of their health and detect any abnormalities early on,thusallowingforlifestylechangestobemade.Nobodycanarguethatmedicalequipmentismorecomplex,advanced, andspecialized,asitincludesimagingsystems,ventilators,insulinpumps,andpacemakers,whichrequiresupervisionofa medicalprofessionalfordiagnosisandtreatment.Thetwosetsofdevicesusedtogetherillustrateacontinuumofcarethat personalmonitoringandlife-savingmedicalinterventionsprovide.

Technologyrapidlyadvances,andthehealthequipment/medicalequipmentlinesbecomeevenmoreundefined.

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

3. DIABETES HEALTHCARE DEVICES:

Healthcare’s value in developing technologies for diabetes care cannot be overstated since diabetes is one of the most commonglobalhealthconditions.Initiallyglucoselevelmonitoringrequiredfingerpricktests.Whilethesetestsprovided accurate metrics, their invasive nature and the resultant discomfort led to reluctance in monitoring glucose levels frequently.Modernglucoselevelmonitoringtechnologiesaddresstheseconcernsbyofferingnon-invasiveandcontinuous testing.

Even though glucometers allow for home testing, patients must still actively perform these tasks. Continuous glucose monitors (CGMs) and wearable glucose monitors have changed this by using minimally invasive sensors to measure interstitial fluid glucose levels. These devices offer patients real-time and historical glucose level data, helping them identifyproblematictrendsintheirdata.Thesedevicestakethemonitoringevenfurtherbyofferingalertssopatientscan real-time respond to dangerous hypo- and hyperglycemia. Smart glucose patches have even more advanced features, combiningglucosemonitoringanddrugdeliverytoautomateddeliverinsulinwhenglucoselevelsrise.Thesedevicestake pancreasmonitoringanddrugdeliverytomoderndiabetespatients.

Moreover, most currently available sugar trackers combine with smartphones and cloud services enabling users to send information to practitioners to obtain tailored suggestions. Such connected devices enhance self-management as well as facilitatepreventiveapproachestohealthcare.Thechangingsugarequipmentandtrackershighlighthowthetechnology used in the care of diabetes is becoming better, more precise, and less invasive. Most importantly, the devices more the monitors empowering thepatients tocontrol their healthand,in turn, enhancetheirlives bothinthepresentandinthe future.

4. DEVICES TO MEASURE GLUCOSE LEVELS:

 Glucometer (Finger-Prick Device):

1. Usesadropofbloodfromfingertip.

2. Portable,affordable,andwidelyused.

3. Accuratebutinvasiveanduncomfortableforfrequentuse.

 Flash Glucose Monitoring System:

1. Sensorwornonthearm;glucosecheckedbyscanningwithareaderorsmartphone.

2. Lessinvasive,convenient,andprovidestrenddata.

3. DoesnotgiveautomaticalertslikeCGMs.

 Smart Patches (Experimental/Advanced):

1. Usemicroneedlesorbiosensorstodetectglucosethroughinterstitialfluidorsweat.

2. Somepatchesintegrateinsulindelivery,actinglikeanartificialpancreas.

3. Non-invasiveorminimallyinvasive,stillindevelopment.

 Continuous Glucose Monitor (CGM):

1. Smallsensorinsertedundertheskinmeasuresglucoseininterstitialfluid.

2. Providescontinuous,real-timedatawithalertsforhigh/lowglucose.

3. Reducesneedformultiplefingerpricksbutcanbecostly.

 Wearable Smartwatches & Trackers (Emerging):

1. Aimtomeasureglucoseusingopticalsensorsorsweatanalysis.

2. Non-invasiveanduser-friendly.

3. Stillunderresearch,notwidelyavailableformedicaluseyet.

5. INSULIN DELIVERY DEVICES AND INJECTION MARKET:

The global insulin delivery devices market is experiencing steady growth, increasing from $11.5 billion in 2018 to an expected $28.1 billion by 2030. This expansion is largely driven by the rising prevalence of diabetes worldwide, advancements in technology, and growing patient preference for convenient and effective methods of insulin administration.Between2018and2023,themarketgrewfrom$11.5billionto$16.4billion,reflectingacompoundannual

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

growth rate (CAGR) of around 7.4 percent. From 2023 to 2030, it is projected to rise further to $28.1 billion, with an anticipatedCAGRofabout8.2percent,showingacceleratedadoptionofmoderninsulindeliverytechnologies.

The main factors contributing to this growth include the increasing number of diabetes patients caused by aging populations, obesity, and lifestyle changes. There is also a clear shift toward home-based care, with patients adopting insulin pens, pumps, and wearable patches for greater convenience and better disease management. Technological innovations such as smart insulin pens, patch pumps, and integration with digital health tools are enhancing compliance andefficiency.Growingawareness, educational campaigns,andimprovedaccessto healthcarein emerging marketssuch asAsia-PacificandLatinAmericaarealsodrivingdemand.

Despitetheseopportunities,themarketfaceschallengessuchasthehighcostofadvanceddevices,regulatorybarriersthat slowdownnewproductlaunches,andpatientreluctanceinsomeregionstoswitchfromtraditionalmethodsduetofearof needlesorlackofawareness.

Regionally, North America holds the largest share of the market due to advanced healthcare infrastructure and early adoptionoftechnology,whileEuropefollowscloselywithstronggovernmenthealthcarepolicies.Asia-Pacificisthefastest growingregion,supportedbyalargediabeticpopulationandrapidimprovementsinhealthcareaccess.LatinAmericaand theMiddleEast&Africacontributesmallersharesbutareexpectedtoexpandsteadily.

By 2030, the insulin delivery devices market is set to nearly double compared to 2023. The future will be shaped by wearable technologies such as insulin patches and pumps, deeper integration with mobile health applications, personalizeddiabetescare,andbroaderavailabilityofdevicesindevelopingeconomies.

Table 1: Market Size of InsulinDelivery Devices byRegion from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net

InsulinDeliveryDevices(byRegioninUSBilliondollars)

Graph 1:Market Size ofInsulinDelivery Devices byRegion from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market

Segment

Table 2: Market Size of InsulinDelivery Devices byEnd users from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market

MarketSize(US$B)

Graph 2:Market Size ofInsulinDelivery Devices byEnd users from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

6. WEARABLE SUGAR PATCHES MARKET:

The wearable patch market is rapidly expanding as medical technology advances and the demand for remote and personalized healthcare grows. Wearable patches are skin-applied devices that can monitor vital health parameters, deliver medications, or both. They are used in applications such as glucose monitoring, cardiac monitoring, temperature measurement, and fitness tracking. These devices offer a less invasive and more convenient alternative to traditional medicalequipment,allowingpatientstomanagetheirhealthindailylifeandenablinghealthcareproviderstoaccessrealtimedataforbetterdecision-making.

Keypointsofthewearablepatchmarketinclude

 Global marketvaluationin 2024isapproximatelyUSD 10billion, expectedtoreachUSD15–26 billion by2030–2035withaCAGRof8–10.5%

 Smartconnectedpatchesdominatethemarket,offeringreal-timemonitoringandwirelessconnectivity

 Applicationsinhealthcare,chronicdiseasemanagement,andhome-basedcaredrivethelargestmarketshare

 North America is the leading region, while Asia-Pacific shows the highest growth potential due to rising chronic diseaseprevalenceandimprovinghealthcareinfrastructure

 Smartglucosepatchesareafast-growingsegment,valuedaroundUSD1.14billionin2024,projectedtogrowata CAGRof17–18%toreachapproximatelyUSD5billionby2033

 Major players include Abbott Laboratories, Medtronic, Dexcom, iRhythm Technologies, Insulet Corporation, VivaLNK,andVitalConnect

 Market trends include miniaturization, flexible and skin-compatible materials, multi-parameter monitoring, AI integrationforpredictivealerts,andimprovedconnectivity

 Challengesinvolve ensuring accuracy,biocompatibility, batterylife,comfort,cost,regulatoryapprovals,anddata security

The wearable patch market represents a significant opportunity for innovation in patient-centered healthcare, enabling continuous monitoring, reducing hospital visits, and improving disease management outcomes, especially in chronic conditionslikediabetes.

Table 3: Market Size Wearable Sugar Patches Market byregion from2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/wearable-patch-market

Volume: 12 Issue: 10 | Oct 2025

WearablePatchMarket(byRegioninUSBilliondollars)

Graph 3:Market Size Wearable Sugar Patches Market byregion from2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/wearable-patch-market

Table 4: Market Size Wearable Sugar Patches Market byend users from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/wearable-patch-market

WearablePatchMarket(sharebyenduse,2024)

Graph 4:Market Size Wearable Sugar Patches Market byend users from 2018 to 2030

Source:https://www.grandviewresearch.com/industry-analysis/wearable-patch-market

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

As technology continues to advance, so do the patches we wear on our skin. A personalized health care experience now includes the ability to monitor your own health. Wearable patches monitor, dispense, or do both, in clinical situations. Among other uses, patches monitor glucose, cardio health, body temperature, and fitness. The convenience of managing yourhealthpassivelyandinrealtimeisawelcomechangeforbothpatientsandforhealthcareproviderswhoobtainreal timedatathatisinvaluableandgoeswellbeyondthesnapshotdatagainedbytraditionalequipment.

Patches provide an opportunity to innovate patient-centered continuous monitoring, minimizing the need for hospital visits. This is especially important for the management of chronic conditions to improve overall outcomes and disease management,suchasindiabetes.

7. COMPARING WEARABLE PATCHES AND INSULIN DELIVERY DEVICES:

Managing diabetes requires consistent monitoring and regulation of blood glucose levels. Traditional insulin therapy involves subcutaneous injections, which deliver insulin directly into the bloodstream. While highly effective, injections canbepainful,inconvenient,andreducepatientcomplianceduetothefrequencyanddiscomfortassociatedwithmultiple dailydoses.

Wearable sugar patches are an innovative alternative that provide non-invasive or minimally invasive glucose monitoring and, in some cases, automated insulin delivery. These patches use microneedles or sensors to measure glucoseininterstitialfluid,transmittingreal-timedatatoconnecteddevicessuchassmartphones.Someadvancedpatches also release insulin when glucose levels rise, mimicking natural pancreatic function. This reduces the risk of hyperglycemiaandhypoglycemiawhileimprovingconvenienceandqualityoflife.

Keypointsofcomparison:

 Deliverymethod:Injectionsareinvasive;patchesareminimallyinvasiveornon-invasive

 Monitoring: Injections require manual blood glucose checks; patches provide continuous monitoring with realtimealerts

 Comfortandcompliance:Patchesaremorecomfortableanduser-friendly,improvingadherence

 Accuracy:Injectionsprovidedirectinsulindelivery;patchesrelyonsensorsandinterstitialfluid,whichmayhave slighttimelag

 Convenience:Patchesreducetheneedformultipledailyinjectionsandfinger-pricktests

 Technologyintegration:Patchescanconnecttoappsandhealthplatformsfordatatrackingandpredictivealerts

 Cost: Patches may have higher upfront costs but can reduce long-term complications through better glucose control

 Personalized therapy: Patches can adjust insulin delivery automatically, supporting more precise glycemic management

Overall,sugarpatchwearablesoffera promisingalternativetotraditional injections,combiningconvenience,continuous monitoring, and better patient adherence, though they still face challenges such as cost, sensor accuracy, and regulatory approval.

8. CALCULATIONS:

1. HealthMarket(inBillionDollars):

Ingraph,x-axisasyearsfrom2015to2025andY-axisshowhealthmarket(inUSDBilliondollars)

Let’sconsider2015as1,2015as2……..2025as11.

Aftermanuallydrawinggraphanonexcel.

Weconcludedexponentialequationcoversmaximumnumberofplots

Consideringy=A.Bx

International Research Journal of Engineering and Technology (IRJET)

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net

HealthMarket($Billion)

Graph 5:Actual vs Calculated Health market (inbillion dollars)

Formula: ( )

Where “y” represents health market (in USD billion dollars) and “x” represents 1, 2,3……(1 represents 2015, 2 represents2016andsoon).

Thegrowthisof5.5%yearwise

2. MedicalMarket(inBillionDollars):

Ingraph,x-axisasyearsfrom2015to2025andY-axisshowmedicalmarket(inUSDBilliondollars) Let’sconsider2015as1,2015as2……..2025as11.

Aftermanuallydrawinggraphanonexcel. Weconcludedexponentialequationcoversmaximumnumberofplots

Consideringy=A.Bx

MedicalMarket($Billion)

Graph 6:Actual vs Calculated Medical market (in billion dollars)

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

Formula: ( )

Where “y” represents medical market (in USD billion dollars) and “x” represents 1, 2,3……(1 represents 2015, 2 represents2016andsoon).

Thegrowthisof6.9%

3. GenericInjectionMarket(inMillionDollars):

Ingraph,x-axisasyearsfrom2015to2025andY-axisshowpatchmarket(inUSDMilliondollars)

Let’sconsider2015as1,2015as2……..2025as11.

Aftermanuallydrawinggraphanonexcel. Weconcludedexponentialequationcoversmaximumnumberofplots

Consideringy=Ax2+Bx+C

GenericInjectMarket($million)

Graph 7:Actual vs calculated generic inject market (in billion dollars)

Formula: ( )

Where “y” represents patch market (in USD million dollars) and “x” represents 1, 2,3……(1 represents 2015, 2 represents2016andsoon).

Thegrowthisof6.5%

4. PatchMarket(inMillionDollars):

Ingraph,x-axisasyearsfrom2015to2025andY-axisshowpatchmarket(inUSDMilliondollars) Let’sconsider2015as1,2015as2……..2025as11.

Aftermanuallydrawinggraphanonexcel. Weconcludedexponentialequationcoversmaximumnumberofplots

Consideringy=A.Bx

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

PatchMarket($Million)

Graph 8:Actual vs calculated Patch market (in billion dollars)

Formula: ( )

Where “y” represents patch market (in USD million dollars) and “x” represents 1, 2,3……(1 represents 2015, 2 represents2016andsoon).

Thegrowthisof4.6%

5. OralMedicinesandInjectionsMarket($Billion):

Ingraph,x-axisasyearsfrom2015to2025andY-axisshoworalmedicinesandinjections market(inUSDMillion dollars)

Let’sconsider2015as1,2015as2……..2025as11.

Aftermanuallydrawinggraphanonexcel. Weconcludedexponentialequationcoversmaximumnumberofplots

Consideringy=A.Bx

OralMedicinesandInjectionsMarket($Billion)

Graph 9:Actual vs calculated oral medicines and injections market (in billion dollars)

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

Formula: ( )

Where“y”representsoralmedicinesandinjectionsmarket(inUSDmilliondollars)and“x”represents1,2,3……(1 represents2015,2represents2016andsoon).

Thegrowthisof27.9%

9. Conclusion

Thecomprehensiveanalysisofthe healthmarketrevenueacross differentdrugtypesresultsindistinctgrowth patterns. Branded medicines show steady growth with 5.9%, but are challenged by the rising mix of generic medicines showing 6.9% growth, as supported by affordability and various government initiatives. Old medicines remain the favourable choice, with measurable growth still through injections and other traditional ways of treatment. However, shorter and faster-growingsolutionsarereplacingoldermethods.

The most significant trend is the replacement of injections and health monitoring equipment by patches. Though the growthrateisslow,itmaybeduetoaffordabilityissuesandlackofsupportfromhealthagencies.Butrapidacceptanceis likelytoexpandquickly.

Data analysis resultsin concludingthatacceptance of new, innovative patient-friendlypatchesis expected to replaceold traditionalmedicinesandmonitoringsystems,makingthisthefastest-growingsectorinhealthcare.

10. Conclusion

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2. Andersen,R.(1995). Revisiting the Behavioral Model and Access to Medical Care: Does It Matter? JournalofHealth and Social Behavior, 36(1), 1–10. https://www.jstor.org/stable/2137284

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4. Paich, M., Peck, C., & Valant, J. (2011). Pharmaceutical Market Dynamics and Strategic Planning: A System Dynamics Perspective. System Dynamics Review, 27(3), 165–186. https://onlinelibrary.wiley.com/doi/full/10.1002/sdr.458

5. Leydesdorff,L.,&Meyer,M.(2015). The Triple Helix Model and the Study of Knowledge-Based Innovation Systems Research Policy, 44(10), 1817–1834. https://arxiv.org/abs/1512.07250

6. Holtkamp,N.,&Murphy,S.(2024). An Examination of the Return on Investment of Generic Injectable Prescription Drugs. Office of the Assistant Secretary for Planning and Evaluation (ASPE), U.S. Department of Health and Human Services. https://www.ncbi.nlm.nih.gov/books/NBK611650/

7. Future Market Insights. (2024). Generic Injectable Market Outlook (2024–2035): Global Forecast and Growth Analysis. https://www.futuremarketinsights.com/reports/generic-injectable-market

8. Precedence Research. (2024). Generic Sterile Injectable Market Size, Growth & Forecast 2023–2030 https://www.precedenceresearch.com/press-release/generic-sterile-injectable-market

9. BioSpace. (2024). Generic Injectable Market Size to Reach US$ 433.61 Billion by 2034 – Precedence Research https://www.biospace.com/generic-injectable-market-size-to-reach-us-433-61-billion-by-2034-precedenceresearch

10. BioSpace.(2024). Generic Sterile Injectable Market Size to Reach USD 119.65 Bn by 2034 – High Demand for LowCost Treatments and Chronic Disease Prevalence https://www.biospace.com/press-releases/generic-sterile-injectable-market-size-to-reach-usd-119-65-bn-by2034-high-demand-for-low-cost-treatments-and-chronic-disease-prevalence

11. Grand View Research. (2023). Transdermal Skin Patches Market Size, Share & Trends Report 2024–2030. https://www.grandviewresearch.com/industry-analysis/transdermal-skin-patches-market-report

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 12 Issue: 10 | Oct 2025 www.irjet.net p-ISSN:2395-0072

12. Verified Market Reports. (2024). Skin Patch Market Size, Share, and Forecast (2024–2031) https://www.verifiedmarketreports.com/product/skin-patch-market/

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14. Mordor Intelligence. (2024). Oral Solid Dosage Pharmaceutical Market – Growth, Trends, and Forecast (2024–2029)

https://www.mordorintelligence.com/industry-reports/oral-solid-dosage-pharmaceutical-market

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19. IQVIA Institute. (2023). Global Trends in Pharmaceutical Innovation and Market Dynamics. https://www.iqvia.com/insights/the-iqvia-institute/reports/global-trends-in-pharmaceuticals

11. Biographies:

Trisha Bansal

 Education: Class12studentat BhavanVidyalaya, Chandigarh

 National Winner at BITS Pilani Young Entrepreneurs Bootcamp

 Pursuing a healthcare-related patent basedonher microneedle innovation

 Head Girl ofBhavanVidyalaya

 Leader ofherschool’sstudentcompany Ascension

 Deputy Convenor of BVCMUN 2025 (nationallevelModelUnitedNations)

 Exchange Program: Participatedasan exchange student in the United States

 Awards: Best Delegate at La Martiniere College MUN, Lucknow

 Interests: Healthcare,economics,finance,andmanagement

Undertheguidanceof:

Dr. Mamta Jain

 M.Sc(Mathematics)(Doublegoldmedalist)

 M.Phil(ComputerApplications)withhonorsFromUniversityofRoorkee(nowIITRoorkee)

 PhD(Mathematics)-Variouspaperspublishedininternationaljournals

 FormerLeadAuditorISO9001,ISO-22000SchoolAccreditationExaminerbyQCI

 26yearsofteachingexperience

 VariousResearchPaperPublished

Er. Raunaq Jain

 B.EMechanicalEngineeringFromThaparInstituteofEngineeringandTechnology

 DistrictPhysicsTopper

 ContentWriterandgraphicdesigner

 MechanicalMentorfromsession2019-2020

 TechnicalDataAnalystatDeloitte