Our latest concept paper, “Meeting Challenges: “Tapping Opportunities to achieve US$ 50 bn vision for Medical Technology Sector”, attempts to provide an insight into the various updates on regulatory, technology and the market fronts in the Indian medical technology sector and provides an interim review of the progress of the medical technology sector in its proposed vision and roadmap to achieve the US$ 50 bn mark by 2025.
The paper prepared in collaboration with CII - Medical Technology Division highlights several trends:
- Regulatory roadblocks and identity building through an appropriate de-linking of Medical Technology from the Drugs and Cosmetics Act through the proposed National Medical Devices Policy, 2015. The industry keenly awaits the formalisation of this regulatory framework.
- Other systemic challenges owing to the dependence of medical technology on the overall healthcare delivery eco-system in the country.
- Progressive initiatives undertaken by the government in terms of easing FDI norms, setting up of medical technology parks and testing laboratories.
- Accelerating the Universal Healthcare Agenda and installing the right framework to provide ‘access’ to ‘safe’, ‘quality’ and ‘affordable’ healthcare to patients.