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Govt adopting holistic approach to make India a global hub of Medical Devices, set to become $50 billion industry soon: Dr Mansukh Mandaviya

Aug 10, 2023

Indian Medical Devices sector to play an important role in achieving Atmanirbhar Bharat mission: Bhagwanth Khuba

  • India’s 1st ever MedTech Expo to be held from 17th to 19th August in Gandhinagar, Gujarat

NEW DELHI, 10 August 2023: Underlining the intent of the Central Government under the leadership of Hon’ble Prime Minister Shri Narendra Modi, Dr Mansukh Mandaviya, Minister for Health & Family Welfare and Chemicals & Fertilizers, Government of India today said that India is set to emerge as the global manufacturing hub for medical devices through a holistic development of healthcare, pharmaceuticals, and medical devices sectors. The market size of Indian medical devices sector is likely to reach $ 50 billion in coming years from current $ 11 billion. He further emphasized that in order to make healthcare affordable, the government is targeting to increase the share of generic medicines to 50-60 per cent from current level of 14 per cent alongside localization of medical devices.

Addressing the Curtain Raiser of ‘India MedTech Expo 2023’, scheduled to be held in Gandhinagar, Gujarat from 17th to 19th August 2023, Dr Mandaviya said, “The medical device sector is considered as one of the sunrise sectors in the country. While earlier, we used to think in silos, Hon’ble Prime Minister Modi Ji’s holistic thinking has put India on the path of being the global hub for manufacturing medical devices and producing innovative medical technologies. We are also working towards making healthcare affordable and accessible for all by popularizing and increasing share of generic medicines to 50-60 per cent.”

Outlining the government’s thinking, Mr Bhagwanth Khuba, Hon’ble Minister of State for Chemicals & Fertilizers and New & Renewable Energy, Govt of India said, “The government is working on mission mode to fulfil Hon’ble PM Modi’s dream of Atmanirbhar Bharat and Indian medical devices sector will play a crucial role in it. The government is committed to supporting the growth of the medical devices sector in the country. India also has a lot of potential in the health tourism sector with immense opportunities and India MedTech Expo 2023 will further add value to this vision.”

Briefing on the ministry’s initiatives for the sector, Ms S. Aparna, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India said, “The government is working to support the medical devices sector by initiating various reforms and policies including PLI scheme for domestic manufacturing and financial support for R&D and we are open to ideas and suggestions to help localized production.” 

Representing industry’s voice, Mr Shailesh K Pathak, Secretary General, FICCI said, “As an industry body with 96 years of legacy, we hope to see a bright future for the medical devices sector to grow many times in the coming years. The upcoming India MedTech Expo 2023 event will help accelerate this change.”

Mr Ravindra Pratap Singh, Joint Secretary (Policy), Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India delivered the vote of thanks.

About the event:

  • 231 delegates of 50 countries from ASEAN, Africa, CIS, Middle East, OSEANA to join mega conclave;  
  • 400+ exhibitors including MSMEs, domestic and international manufacturers, start-ups, regulatory bodies, state governments and central ministries and departments to participate;
  • Experts, scientists and medical professionals from world renowned premier institutions and Think-Tanks like IITs, IISc, AIIMSs, ICMR, CNCI, NITI Ayog, World Bank to deliberate the road map;
  • 70+ innovations and 60+ R&D projects to be part of ‘Future Pavilion’ and ‘R&D’ Pavilion;
  • 7 states to showcase their manufacturing & investment potential;

To unleash the potential of the sector and brainstorm the path ahead, the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India is hosting the pioneering ‘INDIA MEDTECH EXPO’ with central theme ‘India: The Next MedTech Global Hub’ Future of Devices, Diagnostics and Digital’, which is being organized alongside G20 Health Ministers’ Conference.

The Expo will have various pavilions, including Future Pavilion, R&D Pavilion, Start-up Pavilion, State Pavilion, Regulators Pavilion and Make in India Showcase. More than 400 exhibitors including 150 plus MSMEs, 150+ Domestic and International Manufacturers, Start-ups, Regulatory agencies, State Governments and Central Departments will participate in it.

As many as 7 States - Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Himachal Pradesh, Rajasthan, Andhra Pradesh and Gujarat are setting up pavilions during the expo.

The expo will have pavilions for Innovations and R&D, wherein more than more than 30 companies will showcase new research and innovations. A separate pavilion for Start-ups will also be there and as many as 75 Start-ups are participating in it.

Further, 7 regulatory agencies for Medical Devices Sector including Department of Pharmaceuticals, GeM, ICMR, IPC, CDSCO, NPPA and BIS are participating in it.

In addition to that, thematic Conference Sessions will be organised during the 3-day event, with the aim to explore boundless frontiers of knowledge, inspire innovations, and forge connections that transcend boundaries. The Thematic Conference Sessions are created keeping aim of achieving Vision 2047, a vision that embodies India’s aspirations for the MedTech sector, not just within India but also as a significant contributor to the global healthcare landscape. 

Through the 3-day conference, the event aims to:

  • Bring together professionals, experts, and innovators from various fields to discuss the latest advancements, challenges, and opportunities in the medical device sector.
  • Renowned industry leaders and experts will share their insights and experiences, shedding light on the current trends and prospects in the medical device domain.
  • Latest regulatory guidelines and compliance requirements to ensure successful product development and market access will be discussed among Industry leaders and Policy makers.
  • Thought-provoking discussions with industry experts, regulators, and healthcare practitioners about the challenges and opportunities in medical device development, regulation, and implementation.

A total of 231 foreign buyers from 50 countries primarily from 5 major regions Africa, ASEAN, CIS, Middle East and Oceania will participate in the international buyer-seller meet. Based on the profile, these buyers can be principally grouped into four main categories:

1.      Government Officials from Ministry of Health – 55

2.      Major Buyers & Importers of Medical devices and equipment -111

3.      Procurement Agencies - 60

4.      Medical Trade Journalists – 5

 

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