Cabinet approves medical devices policy to grow to USD 50 bn

The Union Cabinet on Wednesday approved National Medical Devices Policy 2023 to promote domestic manufacturing and help the sunrise sector grow from the present USD 11 billion to USD 50 billion in the next five years and reduce import dependence.
The policy focuses on six strategies to tap the potential of the sector with the ‘implementation of action plan’.
Briefing media after the Cabinet meeting, Union Health Minister Mansukh Mandaviya said there has been a rising demand for medical devices in India, and so, there is a need to promote domestic manufacturing.
The minister also said that in the globalised world there would also beimports, but the aim of the National Medical Devices Policy 2023 is to meet the maximum requirements from locally manufactured products.
The medical devices sector in India is an essential and integral constituent of the Indian healthcare sector.
The six strategies planned under the policy are Regulatory Streamlining; Enabling Infrastructure; Facilitating R&D and Innovation; Attracting Investments in the Sector; Human Resources Development; and Brand Positioning and Awareness Creation.
The Indian medical devices sector’s contribution has become even more prominent as India supported the domestic and global battle against the COVID-19 pandemic through the large-scale production of medical devices and diagnostic kits like ventilators, rapid antigen test kits, RT-PCR kits, PPE Kits and N-95 masks, an official release said.
The policy is expected to provide the required support and directions to strengthen the medical devices industry into a competitive, self-reliant, resilient and innovative industry that caters to the healthcare needs of India and the world.
The policy aims to place the medical devices sector on an accelerated path of growth with a patient-centric approach to meet the evolving healthcare needs of patients.