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Indian Medical Device Industry to Develop Into A Global Manufacturing Hub

Indian medical device industry has come a long way from its humble beginnings to the current status where in gradually Indian manufacturer have extensively used their talent & experience into various manufacturing entities from disposable medical devices, implants, electro-surgical devices, endoscopes, patient aids to instruments & equipment, etc.

Of late the Indian medical device industry is consolidating with the introduction of several steps initiated by the Indian government to broaden the medical device manufacturing base and to enhance exports from India.

The latest encouraging support from the Indian regulator, has been bestowed through delinking of the medical devices from the pharmaceuticals, which has resulted in the elevation of confidence of the medical device industry.

To dwell & explore on the subject of prominent growth opportunities& enablers available to the Indian medical device manufacturer; well these can be enumerated as below:

• Continued support from the Indian medical device regulator for provision of globally harmonized regulatory framework.

• Continued support from government to encourage ease of doing business under the Make in India initiative.

• Making the process of issue of Free Sale Certificate easier.

• Inclusion of more Medical Device entities into the notified item list.

• Surge in the medical device consumption & demand owing to high ageing population, increased healthcare awareness, increased lifestyle related disorders, increase in the health spent through medical insurance coverage, etc.

• Increase in the infrastructure by provision of skilled manpower, through medical devices cluster and similarly for development of medical device testing & biocompatibility evaluation.

• Initiation of dedicated Medical Device Park, like in AP that will spur domestic production of medical devices and help reduce import dependency and as well creating avenue for export & increase employment and generate wealth and enable flourish and ecosystem for high end medical device manufacturing.

• Introduction of innovative product entities through dedicated R & D grants and angel funding and incubation centres.

• Increase in the healthcare infrastructure in the form of corporate hospitals and in number of beds, leading to hospital capacity enhancement and additional increase in the capability enhancement of healthcare workforce, to sustain steady up surge in patient numbers and also increase in medical tourism.

• Hence, I would like to conclude that it is my strong belief that Indian Medical Device Industry shall develop into a global manufacturing hub.