Last Updated on January 6, 2024 by The Health Master
New Delhi: The Union Cabinet is likely to announce the National Medical Device Policy, as per sources confirmed.
“The cabinet has passed the medical device policy and it’s great news for medical device manufacturers in the country,” a source said.
The policy aims to boost the manufacturing of medical devices in the country. It could help in increasing the production of medical equipment on a large scale viz RT-PCR tests, PPE kits, and N95 masks.
The Department of Pharmaceuticals (DoP), Ministry of Chemicals and Fertilisers released an approach paper for the Draft National Policy for the Medical Devices, in 2022.
To promote the medical device industry, the DoP realising the need to have a holistic policy to accelerate growth and explore the potential of the medical devices sector, has published the approach paper, after extensive stakeholder consultations.
MedTech is expected to grow in market size from the present $11 billion to $50 billion by 2025.
AdvtThe proposed policy strives to put in place a comprehensive set of measures for ensuring sustained growth and development of the sector and addressing the challenges of the sector such as regulatory streamlining, skilling of human resources and lack of technology for high-end equipment and lack of appropriate infrastructure, through a coherent policy framework.
The 38-page policy envisions that India by 2047:
- Will have a few National Institutes of Medical Devices Education and Research (NIMERs) on the lines of NIPERs;
- Will be home & originator to 25 high-end futuristic technologies in MedTech;
- Will have a MedTech industry of $100-300 billion in size with 10-12 per cent of global market share.
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