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Health Minister Launches
Platform To Boost Domestic Medical Devices Industry
Indian medical devices industry to grow to $50 billion by
2030: Mandaviya.
The Union
Health Ministry on Monday launched MedTech Mitra, a
platform to accelerate the development of innovative
products and aid their commercialisation. Inagurating the
platform virtually on Monday, union health minister
Mansukh Mandaviya said that “the medical devices industry
in India had the potential to grow and become a $50
billion industry by 2030”.
MedTech Mitra
will hand-hold innovators and help them in getting
regulatory approval, Mandaviya said. The platform has been
created by Niti Aayog, Indian Council of Medical Research
and Central Drugs Standards Control Organisation.
The MedTech
Mitra platform, along with the recent medical devices
policy and the production-linked incentive scheme, will
together provide a boost to the medical devices sector and
encourage domestic manufacturing of these devices, the
minister said.
“Medical
devices are an essential and integral constituent of
India’s healthcare sector, but are highly
import-dependent. Around 80% of the medical devices are
being imported and this had to change. The new initiatives
would facilitate indigenous development of affordable,
quality MedTech devices and
diagnostics, leading to a considerable reduction in the
import dependence of this sector,” Mandaviya said.
“MedTech
Mitra will ensure ease of innovation and doing R&D for
emerging start-ups,” VK Paul, member, health, Niti Aayog
said.
“The medical
devices sector is changing rapidly on the back of
robotics, artificial intelligence, big data, virtual
reality and nanotechnology. MedTech Mitra will handhold
innovators for clinical evaluations and regulatory
compliance through collaboration amongst all stakeholders,
which would break silos and catalyze growth in this
sector,” Paul said.
MedTech Mitra
would provide end-to-end guidance to startups, making
their journey from idea to product smooth. The platform
will also help them bridge gaps and help in animal as well
as clinical trials.
Around
100-plus institutions were expected to work in
coordination and collaboration on the platform. It would
also foster partnerships between engineers, scientists and
clinicians, which was lacking in the sector.
https://www.financialexpress.com/healthcare/newshealthcare/
health-min-launches-platform-to-boost-domesticmedical-devices-industry/3347233/
December 26, 2023
AiMeD,
DRISP Russia Join Hands To Exchange Information On
Economic And Commercial Matters
The Association of Indian
Medical Device Industry (AiMeD), the umbrella association
of Indian manufacturers of medical devices covering all
types of medical devices, and the Centre for the
Development of Russia Strategic Partnership (DRISP) have
joined hands to exchange information on economic and
commercial matters, taking the medical device industry in
two friendly countries to greater heights of growth.
AiMeD said that this is a
significant move aimed at giving a further boost to the
robust and long-standing trade relationship between India
and Russia.
AiMeD and DRIPS Russia would
cooperate in supporting workshops, courses, conferences,
and trade fairs organized in both the countries based on
sectors and topics of mutual interest, and facilitate
networking among the companies of both the countries
through their established mechanisms.
“The Memorandum of
Understanding (MoU) signed between DRISP and AiMeD assumes
significance as the leaders of India and Russia have
outlined their aim of achieving a US$ 30 billion mark in
mutual trade by 2025, thus continuing with a dynamic and
multifaceted economic engagement, guided by shared
interests and a commitment to further deepen bilateral
cooperation and our two organisations will contribute in
our own humble manner in line with that objective,” said
Rajiv Nath, forum coordinator, AiMeD.
Nath said that AiMeD will
offer a business-to-business matchmaking bridge role with
regard to the promotion of technology and investment
tie-ups to companies based in Russia on a cost basis.
Similarly, DRISP Russia will assist AiMeD members in their
business endeavours. “We will also share
enquiries received from its members in Russia and will
cooperate with DRISP Russia in referring to the list of
manufacturers, suppliers and buyers as required without
bias,” said Nath.
The MoU, inked on October 4,
intends to “foster mutual cooperation and understanding
for the purpose of promoting the development of business
relation between India and Russia, promoting bilateral
trade, investment in both the countries and the
development and exchange of technology” for the
development of medical device industry.
The MoU assumes significance
as India is fast emerging as a key supplier of medicines,
car and machine parts, textiles and clothing, and food
products to Russia, said the Association. According to St
Petersburg International Economic Forum (SPIEF),
India-Russia trade hit a record $39.8 billion in 2022–23.
Talking about the MoU, Prasun Prakash, public affairs
director, DRISP, said that AiMeD and DRISP Russia would
exchange information on economic and commercial matters,
that is, trade, investment and technology transfer
opportunities as well as trends.
“AiMeD will provide free
online access to its web based services, except for those
sectors, which are priced, for all users,” he said.
Prakash, who signed the MoU on behalf of DRISP, further
revealed that AiMeD and DRISP Russia would also extend
assistance for visiting healthcare delegations, including
officials and businessmen, on both sides, with a view to
promoting their business missions and facilitating
business collaborations. Nath signed the MoU on behalf of
AiMeD.
AiMeD has all types of
medical devices including consumables, disposables,
equipment, instruments, electronics, diagnostics and
implants. With a primary membership of over 400
manufacturers and additionally of over 200 associate
members, AiMeD represents the interest of over 1,200
manufacturers of medical devices and helps them address
their problems.
http://www.pharmabiz.com/NewsDetails.aspx?aid=163355&sid=1
November 2, 2023
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