Govt taking steps to boost exports in medical devices sector: Anupriya Patel

New Delhi: Union Minister of State for Health and Family Welfare, Anupriya Patel addressed the 21st Health Summit of the Confederation of Indian Industry (CII), here today. Union Health Secretary, Punya Salila Srivastava was also present.

The theme of the summit is “Transforming Healthcare for Viksit Bharat 2047”.

Addressing the plenary session on “Charting India’s MedTech Revolution: MedTech Expansion roadmap to 2047”, the Union Minister said that “the medical device sector in India is recognized as a sunrise sector because of its immense growth potential driven by the country’s increasing healthcare needs, technological innovations, government support, and emerging market opportunities.

She informed that the size of the Indian medical devices sector is estimated to be around $14 billion and it is expected to grow to $30 Billion by 2030. She also highlighted that India is the fourth largest medical devices market in Asia after Japan, China, and South Korea and among the top 20 global medical devices markets in the world.

The Union Minister stated that the MedTech industry is not just a component of healthcare but is the catalyst that links patients, payors, providers, and regulators to create a stronger and more equitable healthcare system. “It is this unique positioning of MedTech that holds the promise of revolutionizing healthcare delivery and outcomes, both in India and globally”, she said.

Highlighting the promise of AI in healthcare, Smt. Patel said that “AI innovation is crucial within healthcare to create new methods for facilitating and tackling healthcare challenges and discovering new opportunities.”

Patel highlighted the Union Government’s efforts in strengthening the medical device ecosystem, focusing on boosting domestic manufacturing, promoting research, enhancing skill development, and increasing India’s share in the global market. She stated that “key policy decisions include allowing 100% FDI under the automatic route and the approval of the National Medical Device Policy, 2023, which addresses regulatory streamlining, infrastructure development, R&D, investment attraction, and human resource development. This includes the establishment of Centres of Excellence, courses at NIPERs, and initiatives to strengthen MedTech education.”

The Union Minister noted that the government has taken steps to boost exports and industry collaboration, with the creation of the Export Promotion Council for Medical Devices (EPCMD) and the reconstitution of the National Medical Devices Promotion Council (NMDPC). “These bodies aim to facilitate medical device exports, resolve regulatory challenges, and enhance the Ease of Doing Business, further promoting India’s position in the global medical device market”, she said.

She also informed about the launch of the Scheme for Promotion of Medical Devices Parks with a ₹400 crore outlay, providing ₹100 crore each to Uttar Pradesh, Tamil Nadu, Madhya Pradesh, and Himachal Pradesh for infrastructure development. “Additionally, the Promotion of Research in Pharma-Medtech Sector (PRIP) and the “Scheme for Strengthening the Medical Device Industry” with ₹500 crore funding aim to foster innovation, enhance manufacturing capabilities, support skill development, and promote industry growth”. These efforts align with the vision of Atmanirbhar Bharat, focusing on self-reliance, innovation, and global competitiveness in the MedTech industry, she said.

Underlining that a healthy population fuels productivity, drives economic growth, and ensures social justice, Union Health Secretary, Punya Salila Srivastava stated that “healthcare is not just a social imperative but an economic necessity.” She noted that India’s healthcare agenda focuses on making healthcare affordable, accessible, and inclusive for every citizen and stressed that the healthcare sector is a critical component of India’s vision to become a developed country by 2047.

Dr Naresh Trehan, Chairman, CII National Healthcare Council and Chairman and Managing Director, Medanta – The Medicity; Mr Dilip Jose, Co-Chairman, CII and MD & CEO, Manipal Health Enterprises; Sunita Reddy, Managing Director, Apollo Hospital Group; and Amita Sarkar, Deputy Director General, CII, were present at the gathering.