The Union Cabinet on Wednesday approved the National Medical Devices Policy, 2023, which is expected to facilitate an orderly growth of the medical device sector to meet the public health objectives of access, affordability, quality, and innovation.
It will help the sector grow from the present $11 billion to $50 billion in the next five years, Union Health Minister Mansukh Mandaviya told the media after the Cabinet meeting.
He said the Union government’s vision was to accelerate the growth path with a patient-centric approach and to emerge 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.
“Medical devices sector will be facilitated and guided through a set of strategies that will cover six broad areas of policy interventions, including regulatory streamlining, enabling infrastructure, facilitating research and development and innovation, attracting investment and human resource development,’’ he said.
According to a release issued by the government, 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 not only India but also the world.
“The National Medical Devices Policy, 2023 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,’’ the government said in the release.
