Medical devices sector essential constituent of healthcare sector: Mandaviya

New Delhi: The medical devices sector is an essential constituent of the healthcare sector and India is adopting a holistic approach to health with a vision to transform its health landscape by 2047, Union Health Minister Mansukh Mandaviya said on Monday.

He said this after virtually launching “MedTech Mitra: A Strategic Initiative to Empower MedTech Innovators and Advance Healthcare Solutions” here.

MedTech Mitra is a platform that will help the country’s young talents by holding their hands and giving a final shape to their research, knowledge, logic etc. It will also help them get regulatory approval, Mandaviya said.

Speaking on the occasion, the minister said “the medical devices sector is an essential and integral constituent of India’s healthcare sector”.

Pursuing the vision of Viksit Bharat, India is adopting a holistic approach to health, with a vision to transform the health landscape in the country by 2047, he added.

Noting that India’s MedTech sector is highly import dependent, measuring up to 80 per cent, the health minister emphasised that “to ensure that medical devices are supplied within the country, this sector has seen phenomenal progress with the implementation of production-linked incentive schemes and investments for medical drug parks, the MedTech research policy and the MedTech research incentive scheme.

He further said this collaborative initiative will facilitate indigenous development of affordable and quality MedTech devices and diagnostics, leading to a considerable reduction in the import dependence of the sector.

Underscoring the growth and potential of the sector, Mandaviya said, “I am confident that India will grow to become a USD 50 billion industry by 2030.” Highlighting the fast pace of growth in technology, he said “due to the developments taking place in sectors like robotics, artificial intelligence, big data, virtual reality, nanotechnology, the medical device sector is changing rapidly today”.

Lauding the initiative and efforts of the innovators and youngsters, Mandaviya said, “There is immense power among the innovators, researchers and start-up youth in the country who know how to do research and logic development. If one gets help at the approval stage itself, then wonders can be achieved, which will take India miles ahead in becoming ‘aatmanirbhar’ (self-reliant) and achieving the vision of Viksit Bharat.” Elaborating further, the minister said backed by growing healthcare needs and the government’s commitment to facilitating growth, India’s medical devices industry has the power to emerge as a powerful leader in innovation in the coming years.