'India fourth largest medical devices market after Japan, China and South Korea': Union Minister Anupriya Patel
4 days, 18 hours ago

'India fourth largest medical devices market after Japan, China and South Korea': Union Minister Anupriya Patel

New Indian Express  

NEW DELHI: 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, said Union Minister of State of Health and Family Welfare Anupriya Patel on Thursday. Speaking at the 21st Health Summit of the Confederation of Indian Industry, she said the medical device sector in India is recognised 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. “AI innovation is crucial within healthcare to create new methods for facilitating and tackling healthcare challenges and discovering new opportunities,” she said. Addressing the plenary session on Charting India’s MedTech Revolution: MedTech Expansion roadmap to 2047, Patel said that the size of the Indian medical devices sector is estimated to be around USD 14 billion and it is expected to grow to USD 30 Billion by 2030.

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History of this topic

More M. Tech seats in medical engineering to be created; trade gap in medical devices to be wiped out in five years
4 weeks ago

More M. Tech seats in medical engineering to be created; trade gap in medical devices to be wiped out in five years

Live Mint  

New Delhi: The government will start M. Tech courses in medical engineering at leading institutions like IITs and NITs among measures aimed at creating a pool of skilled talent for testing and operating high-tech medical devices and reducing import dependence in this key sector. Other measures include scaling up the number of seats for this course in National Institutes for …

Centre launches Rs 500 crore scheme to strengthen India’s medical device industry
1 month, 2 weeks ago

Centre launches Rs 500 crore scheme to strengthen India’s medical device industry

New Indian Express  

NEW DELHI: To boost India’s medical device industry, the government on Friday launched a Rs 500 crore scheme aimed at strengthening key areas such as manufacturing, skill development, clinical studies, infrastructure, and industry promotion. Nadda, who also holds the portfolio of Union Chemicals and Fertilisers Minister, stated, “The comprehensive scheme, with an outlay of Rs 500 crore, aims to address …

AI Startups Stepping Up to Solve India's Healthcare Crisis
2 months ago

AI Startups Stepping Up to Solve India's Healthcare Crisis

Live Mint  

AI startups in India are working to solve the country's healthcare problems by developing innovative solutions such as contactless patient monitoring systems and remote monitoring platforms. These startups are leveraging technology to address the shortage of healthcare professionals and improve patient care. By using AI and other cutting-edge technologies, these startups are helping to improve the quality of healthcare in …

How India’s New Age Health-Tech Startups Are Plugging the Holes in Healthcare Infrastructure
2 months ago

How India’s New Age Health-Tech Startups Are Plugging the Holes in Healthcare Infrastructure

The Hindu  

Published : Oct 21, 2024 18:27 IST - 6 MINS READ When racing car engineer Mudit Dandwate nearly lost an uncle to undiagnosed sepsis in an Indian hospital, he made it his mission to improve patient monitoring in the country of 1.4 billion. “And that’s where my race car-engineering background helped because we used some of the same methods to …

AI, IT solutions in healthcare are welcome, but more core med-tech innovations necessary, say experts
3 months, 1 week ago

AI, IT solutions in healthcare are welcome, but more core med-tech innovations necessary, say experts

The Hindu  

In the first week of September, the number of dengue cases this year crossed the 25,000 mark in Karnataka, setting the record of the highest ever. The government must step up and support research institutions to develop new medications,” Dr. Nagesh said, while speaking as part of a panel discussion where several experts pointed to the importance of technology in …

Health care: Innovations for an inclusive future
3 months, 3 weeks ago

Health care: Innovations for an inclusive future

Hindustan Times  

India's health care sector is experiencing unprecedented growth, driven not just by rising incomes, but also through a confluence of transformative factors. By fostering supportive government policies, India has the potential not only to improve health care for its citizens but also to set a global benchmark for affordable, high-quality care. Four areas need urgent attention: * Policy and regulatory …

Need to have more doctors, hospital beds to achieve healthcare vision 2047: Report
7 months, 1 week ago

Need to have more doctors, hospital beds to achieve healthcare vision 2047: Report

Deccan Chronicle  

New Delhi: There is a need to increase the number of qualified doctors to more than 50 lakh and also add 30 lakh more hospital beds in the country in order to achieve India's healthcare vision 2047, according to a report.The increase in the number of doctors and beds in hospitals would help India get closer to the average of …

AI, biotech seen transforming healthcare
7 months, 1 week ago

AI, biotech seen transforming healthcare

China Daily  

An artificial intelligence-aided diagnostic system is displayed during the 2024 China International Medical Equipment Fair in Shanghai in April. New quality productive forces, represented by artificial intelligence and other digital technologies, are shaping China's healthcare sector, likely cultivating the next paradigm shift, industry experts said. Jensen Huang, co-founder, president and CEO of Nvidia, said that with the empowerment of digital …

AI, biotech seen transforming healthcare
7 months, 1 week ago

AI, biotech seen transforming healthcare

China Daily  

An artificial intelligence-aided diagnostic system is displayed during the 2024 China International Medical Equipment Fair in Shanghai in April. New quality productive forces, represented by artificial intelligence and other digital technologies, are shaping China's healthcare sector, likely cultivating the next paradigm shift, industry experts said. Jensen Huang, co-founder, president and CEO of Nvidia, said that with the empowerment of digital …

China's medical technology shows world-leading signs in some fields
7 months, 1 week ago

China's medical technology shows world-leading signs in some fields

China Daily  

AstraZeneca and five Wuxi-based local innovative biomedical enterprises release a collaborative overseas plan in Wuxi, Jiangsu province, on Friday. A large proportion of business in those areas are from overseas markets, said Leon Wang, executive vice-president, international and China president at AstraZeneca during a media interview at the seventh AstraZeneca China Ecosystem Conference held in Wuxi city, Jiangsu province, from …

Govt plans new pricing norms for medical device industry
7 months, 2 weeks ago

Govt plans new pricing norms for medical device industry

Live Mint  

The government is exploring new pricing strategies for the medical device industry and also looking at specific regulations to streamline the licensing, trading, and exporting processes for manufacturers, according to officials familiar with the situation. Medical device licences are currently categorized under the Drugs and Cosmetics Act, and industry associations have long advocated for specific regulations, arguing that the criteria …

India’s healthcare innovation market may hit $60 bn by FY28: Report
9 months, 2 weeks ago

India’s healthcare innovation market may hit $60 bn by FY28: Report

Live Mint  

Bengaluru: India's healthcare innovation market may double to $60 billion by fiscal year 2028, according to a report by Bain & Company and HeathQuad. In FY23, the overall Indian healthcare market was around $180 billion with healthcare innovation accounting for $30 billion, or 15% of the market. While the healthcare innovation market is largely dominated by pharma services and healthtech, …

Interim Budget | Healthcare industry expectations include incentives to promote private investment, R&D, et al
11 months ago

Interim Budget | Healthcare industry expectations include incentives to promote private investment, R&D, et al

The Hindu  

The healthcare industry is seeking greater incentives to promote private investment, sustained incentives for research and development particularly in antibiotic research, while calling for actions to address escalating Active Pharmaceutical Ingredient cost, including incentives for domestic manufacturers and a reduction in GST in the upcoming Interim Budget 2024-25. Besides this the industry is also demanding accelerated growth in adding to …

India pharma industry to reach $130 billion by 2030
1 year ago

India pharma industry to reach $130 billion by 2030

The Hindu  

The Indian pharmaceutical industry is expected to reach $130 billion mark by 2030 said a top industry executive at the CPHI & PMEC India expo. This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the U.S. and Europe,” said Dr. Veeramani S.V., Chairman, Pharmaceuticals Export Promotion Council of India. Anil …

India is at a pivotal moment in its health-care journey
1 year, 3 months ago

India is at a pivotal moment in its health-care journey

The Hindu  

In the last few years, India has steadily become a strong voice for various critical issues. India’s expertise in highly specialised areas such as organ transplants, cardiology, oncology and more has made the country a fast-growing destination for medical value travel, not just for the price but also for the speed of access and the sheer quality of care. Additionally, …

India to become global hub of medical technology devices by 2050: Mandaviya
1 year, 4 months ago

India to become global hub of medical technology devices by 2050: Mandaviya

Live Mint  

New Delhi: India is poised to become a global center for medical technology and devices, said health minister Mansukh Mandaviya on Thursday while addressing the curtain raiser to India MedTech Expo 2023. With effective implementation of the recently unveiled National Medical Devices Policy 2023, we are confident of fostering the medical devices sector growth from present $11 billion to $50 …

There can be no laxity with the quality of medicine: Health Minister
1 year, 6 months ago

There can be no laxity with the quality of medicine: Health Minister

The Hindu  

If India wants to continue being the pharmacy of the world there can be no laxity on the quality of pharmaceutical products, said Health Minister Mansukh Mandaviya speaking at the 8th international conference on the pharma and medical device sector on Friday. The Health Minister also unveiled the National Medical Devices Policy, 2023, and launched the Export Promotion Council for …

Explained | What is the National Medical Devices Policy, 2023?
1 year, 7 months ago

Explained | What is the National Medical Devices Policy, 2023?

The Hindu  

The story so far: On April 26, the Union Cabinet approved the National Medical Devices Policy, 2023. It is expected to help the domestic medical devices sector market grow from $11 billion to $50 billion by 2030 alongside achieving a 10-12% global market share over the next 25 years. To ensure a skilled workforce and create future ready MedTech human …

Medtronic to expand R&D operations in Hyderabad with ₹ 3,000 cr investment
1 year, 7 months ago

Medtronic to expand R&D operations in Hyderabad with ₹ 3,000 cr investment

The Hindu  

Global leader in healthcare technology Medtronic will expand footprint in Hyderabad with a ₹3,000 crore investment on its research and development centre, which already serves as the largest such facility for the company outside the United States. The investment will support in key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies, Medtronic and Telangana government …

Indian medical devices sector to emerge as global leader in manufacturing, innovation in 25 years: Mandaviya
1 year, 7 months ago

Indian medical devices sector to emerge as global leader in manufacturing, innovation in 25 years: Mandaviya

The Hindu  

Backed by growing healthcare needs and the government's commitment to facilitate growth, the Indian medical devices industry has the power to emerge as the global leader in manufacturing and innovation in the next 25 years, Union Health Minister Mansukh Mandaviya said on May 16. He further stated that “backed by growing health care needs and the government's commitment to facilitate …

Centre notifies National Medical Device Policy
1 year, 7 months ago

Centre notifies National Medical Device Policy

Live Mint  

New Delhi: The Union government on Thursday notified the National Medical Device Policy 2023, aiming to establish India as a global leader in manufacturing and innovation of medical devices by achieving a 10-12% share in the expanding global market over the next 25 years. The policy, detailed in a gazette notification issued on Thursday, outlines a regulatory mechanism, protocol for …

India's Pharma Sector In 2023 And Beyond: Shaping New Paradigm With Innovation And Easier Regulatory Processes
1 year, 7 months ago

India's Pharma Sector In 2023 And Beyond: Shaping New Paradigm With Innovation And Easier Regulatory Processes

News 18  

Recently, Union Health Minister, Mansukh Mandaviya highlighted that research and innovation are necessary for the sustained growth of the pharmaceuticals sector. In line with this, the government has initiated various steps such as pharma innovation, new programme to promote research and innovation in pharmaceuticals is being taken up through Centres of Excellences While India’s pharma industry has progressed by leaps …

The big tests of India’s healthcare ambitions, in 5 charts
1 year, 8 months ago

The big tests of India’s healthcare ambitions, in 5 charts

Live Mint  

Friday, 7 April, will mark World Health Day. Despite public health milestones such as the eradication of polio and neonatal tetanus, India still has miles to go in achieving universal healthcare. A health ministry report for 2021-22 showed that community health centres—the third and top tier of public healthcare service in rural India—have an 82% shortfall in paediatricians and 80% …

Drafting a road map to bolster the pharma sector
1 year, 8 months ago

Drafting a road map to bolster the pharma sector

Hindustan Times  

India is known as the pharmacy of the world, and there are several good reasons why it is called so. The country exports pharma products to over 200 countries, and its domestic pharmaceutical industry includes a strong network of 3,000 drug companies and 10,500 manufacturing units. The meeting, attended by representatives from the Union ministry and state governments, had five …

Indian pharma industry must focus on innovation, say industry leaders
1 year, 9 months ago

Indian pharma industry must focus on innovation, say industry leaders

Deccan Chronicle  

HYDERABAD: The Indian pharma industry — also known as the world’s pharmacy — needs to focus on innovation to stay relevant, industry leaders opined at the CEO Conclave of BioAsia here on Friday. Hari S. Bhartia, co-chairman and managing director of Jubilant Pharmova, said the Indian pharma industry could get a huge market if it could offer highly innovative drugs …

Nine decades of shaping healthcare
1 year, 10 months ago

Nine decades of shaping healthcare

New Indian Express  

How has technology changed the landscape of healthcare in India? I think the first person we go to when we have a viral fever or any minor health issue is who I would like to call Dr Google. Either way, an individual needs to pay a visit to a doctor and follow the right cycle instead of depending on videos …

Medical devices industry distressed over Budget 2023 announcements
1 year, 10 months ago

Medical devices industry distressed over Budget 2023 announcements

The Hindu  

The Indian medical devices industry has expressed disappointment over what they believe is a tokenistic 2023-24 Budget announcement of plans for skilling human resources in the sector. The government has not announced any measures to help end the 80-85% import dependence forced upon India, and an ever-increasing import bill of over ₹63,200 crores,” said Rajiv Nath, Forum Coordinator, Association of …

No Dearth of Doctors, Bid to Create Non-MBBS Ones Will Backfire: IMA General Secy to News18
1 year, 11 months ago

No Dearth of Doctors, Bid to Create Non-MBBS Ones Will Backfire: IMA General Secy to News18

News 18  

There is no shortage of doctors in India and the move to create non-MBBS ones will backfire on the government, Dr Jayesh Lele, general secretary of the Indian Medical Association, told News18.com. ‘Don’t blame pharma-doctor nexus, fix self-prescription’ Instead of blaming doctors for the pharma-doctor nexus, the central government should formulate strict rules to stop selling even a single pill …

India can and will lead in solving global problems
2 years, 1 month ago

India can and will lead in solving global problems

Hindustan Times  

At a meeting in Palo Alto, United States, with biotech leaders on October 14, Rajesh Gokhale, secretary of the department of biotechnology, discussed the advantages that India provided in medical research: A vast population with many needs, an abundance of scientific and technical talent, and the government’s willingness to remove obstacles to innovation. The opportunity for India is twofold: To …

India@75: Phenomenal journey of the pharma industry
2 years, 1 month ago

India@75: Phenomenal journey of the pharma industry

Hindustan Times  

The Indian pharmaceutical industry has come a long way since the country’s independence. Among private players, Khwaja Abdul Hamied had already set up one of India’s oldest pharma companies, Cipla in 1935; Indravan Modi set up Cadila pharmaceuticals in the early 1950s, Kallam Anji Reddy set up Dr Reddy’s Laboratories in Hyderabad and Bhai Parvinder Singh set up Ranbaxy in …

Focus on innovation, government-industry synergy key for India to become pharmacy of the world
2 years, 3 months ago

Focus on innovation, government-industry synergy key for India to become pharmacy of the world

Firstpost  

The Indian pharma industry is strongly positioned in terms of production capacity and is also committed to growth Indian pharma industry currently ranks third in terms of pharmaceutical production by volume. A multi-pronged approach to innovation The R&D and clinical trials in the Indian pharma industry are traditionally risk-averse as they face several obstacles that may stifle innovation, such as …

India Can Show The World The Right Path For Medical Pluralism
2 years, 4 months ago

India Can Show The World The Right Path For Medical Pluralism

News 18  

Diversity in any area or sector is a characteristic that is not only intrinsically fundamental to a population but also has practical necessities. As India sits on a gold mine of knowledge of several health systems, the major challenge is to back them up with gold standard researched evidence and integrate them into state health services on a mass level. …

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs
2 years, 9 months ago

Govt Plans Booster Shot for Medical Devices Sector to Make India One of Top 5 Global Manufacturing Hubs

News 18  

The Narendra Modi government plans a big boost for India’s medical devices sector, making its first move by releasing a draft policy exclusively for the industry, which until now has been kept under the policy to regulate pharmaceuticals. According to the approach paper on draft National Medical Devices Policy 2022, released by the department of pharmaceuticals that comes under the …

What’s behind India’s acute shortage of life-saving medical devices?
3 years, 6 months ago

What’s behind India’s acute shortage of life-saving medical devices?

Hindustan Times  

When the coronavirus pandemic first hit India in 2020, the import-dependent medical devices industry — a cornerstone of the country’s health sector — was already in a churn, scrambling to establish new sources of raw materials and supply lines. “During the second wave, in which there was a markedly higher demand for oxygen compared to the first wave, we simply …

India Reaches Out to US Companies Over Investment in Pharmaceutical, Medical Devices Sector
3 years, 7 months ago

India Reaches Out to US Companies Over Investment in Pharmaceutical, Medical Devices Sector

News 18  

India has reached out to top American pharma companies seeking investment in the country’s pharmaceutical and medical devices sector, which gains urgency in view of a devastating second wave of the coronavirus pandemic. India’s Ambassador to the US Taranjit Singh Sandhu has held virtual meetings with Alberta Bourla, the CEO of Pfizer, Thermo Fisher CEO Marc Casper, Bernd Brust, the …

Govt Has Taken Several Measures to Reduce Dependence on Import of Medical Devices: Gowda
4 years, 4 months ago

Govt Has Taken Several Measures to Reduce Dependence on Import of Medical Devices: Gowda

News 18  

The government has taken several measures to reduce the country's dependence on import of medical devices and for the development of domestic capacity in the sector, Minister of Chemicals and Fertilisers D V Sadananda Gowda said on Thursday. However, India is heavily dependent on imports in case of finished medical devices as well as for critical medical device components, Gowda …

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