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Mahesh

21/05/23 09:29 AM IST

India Pharma & India Medical Devices

In News
  • The Union Minister for Chemicals and Fertilizers Dr. Mansukh Mandaviya will inaugurate the 8th edition of the International Conference on 'India Pharma & India Medical Device 2023'.
About the conference
  • The conference will be organized by the Department of Pharmaceuticals in association with Federation of Indian Chambers of Commerce and Industry (FICCI).
  • A new scheme will be launched named ‘Assistance for Medical Devices clusters for Common Facilities(AMD-CF) with the objective to strengthen or establish common infrastructure facilities in the medical devices clusters and also to strengthen or establish testing facilities for medical devices.
  • Theme- "Sustainable MedTech 5.0: Scaling and Innovating Indian MedTech,".
  • Recently the Cabinet cleared the National Medical Device Policy 2023, to make India a global manufacturing hub for medical devices, and approved establishment of 157 nursing colleges to create a cadre of skilled professionals.
  • The market size of medical devices in India stood at an estimated at $11 billion (approximately, ₹90,000 crore) in 2020 and its share in the global medical device market was seen at 1.5%.
  • At present, India imports around 75% of medical devices from other countries.
  • The medical device policy is expected to help the medical devices sector grow from the present $11 billion to $50 billion by 2030, and encourage domestic investments and production of medical devices in the country.
Source- PIB

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