It Is Time For India To Take Lead In Medical Devices Sector: Mandaviya

The Union Health Minister Mansukh Mandaviya on Thursday stated that it is now time for India to take the lead in the medical devices sector and become the leader in the manufacturing of affordable, innovative and quality medical devices while addressing India’s first medical technology expo, ‘India MedTech Expo 2023’, in Gandhinagar on the sidelines of the G20 Health Ministers’ Meeting.

Mandaviya said that “MedTech Expo 2023 draws inspiration from the Hon’ble Prime Minister’s vision of making India Aatmanirbhar. It will be a unique, all-encompassing platform to showcase the strength and potential of the Indian Medical Devices ecosystem”. He also underlined that India is the fastest-growing medical devices market amongst emerging markets.

The Union Minister said that “Our goal is to become self-reliant in the medical device sector and reduce our import dependency which also perfectly aligns with our vision of Aatmanirbhar Bharat, and “Make in India, Make for the World”. FDI up to 100 per cent under the automatic route is permitted for the manufacturing of medical devices.”

Mandaviya said that the start-up ecosystem in India’s medical devices sector is diverse and vibrant, with 250 organisations engaged in innovations, for addressing important health issues. The Union Health Minister also informed that the government is investing hugely in building better infrastructure which will increase the demand for smarter technology and advanced medical devices. 

Dr V K Paul highlighted that “The Indian MedTech sector has accelerated its growth and excellence and it is now at an inflection point to move in the direction of exponential growth in terms of quantity, quality & its reach globally."

He stated that the Union Government’s policies are geared towards creating an ecosystem in the country geared towards making India Atmanirbhar in the health sector. He stated that the newly launched PLI (Production Linked Incentive) scheme of the Union Government has helped in both promoting the production of APIs (Active Pharmaceutical Ingredients) for manufacturing pharmaceuticals as well as for manufacturing medical devices. 

He stated that the future lies in forging partnerships between industry and government towards making India the global hub for medical devices. “The future of Medical Devices is poised to undergo huge transformations, driven by ongoing technological revolutions, miniaturization of devices, integration with IoT, 3D printing & customized medical devices”, he further said.

Bhupendra Patel noted that “Under the leadership of Prime Minister Narendra Modi, India is making huge strides in healthcare”. He lauded the new initiatives brought about by the Union Govt in the healthcare sector and underlined that the sector is poised for rapid growth in the coming years.

Highlighting that Gujarat hosts the leading manufacturers of pharmaceuticals and medical devices in the country, he stated that “The pharmaceutical industry in Gujarat ranks number one in India with a 33 per cent share in drug manufacturing and 28 per cent share of drug exports”.

“The medical devices sector is one of the fastest growing segments today. Recognizing the potential of this sector, the Union Govt has initiated a slew of schemes to provide impetus to the industry for domestic manufacturing of medical devices. These interventions have boosted the domestic capacity of medical devices manufacturing with 30 unique products being manufactured in the country today, including high-end products like CT Scan machines,” said S Aparna, Secretary, Department of Pharmaceuticals.