Ms Anupriya Singh Patel, Minister of State for Health, Government of India said that Indian medical technology industry would grow to US $ 14 billion by 2022 from the present level of US$ 1.4 billion riding on the back of unprecedented digital initiatives and focus on manufacturing, particularly electronics equipment.
The minister was inaugurating the 10th Medical Technology Conference organized by Confederation of Indian Industry (CII) today in New Delhi. “The outlook of the medical technology industry in India is extremely buoyant and the Government is committed to support this industry which can not only help in providing affordable healthcare to masses but also help India to become a major manufacturing hub”, the Minister added.
Explaining the various initiatives her Ministry has taken in promoting the medical technology, Ms Patel said that the web based health management system introduced by the Government at the states’ levels is creating not only a strong infrastructure for monitoring the progress made in the health sector but also in minimizing the huge health losses being incurred in states due to inadequate health infrastructure. The Minister was responding to the CII finding that the nation is losing close to Rs 60 lakh crore on account of the inadequate health infrastructure, which enhances the medical cost, man days lost etc and assured that these losses will be minimized in the course of time across India”.
The Minister underscored the importance being assigned to education and innovation in tackling the healthcare needs of the people. In this regard, she referred to the use of mobile applications and introduction of visual platforms in states like Uttar Pradesh for extending healthcare to maximum number of people especially in the rural areas. By the end of 2018, Ms Patel assured that there would be radical transformation in the medical technology sector in India wherein India could help cut down imports and also to look at some of the export outlets.
Mentioning that 100 per cent FDI is allowed in the medical technology manufacturing sector, Ms Patel said that the new medical devices parks envisaged in States like Gujarat, Tamil Nadu etc would augment the production. The Commerce Ministry is also supporting the Health Ministry is setting up medical devices manufacturing units.
About the proposed Medical Devices Bill, the Health Minister said that soon it would become a law creating the much needed single window for clearances related to setting up medical equipment manufacturing units. However, she did not indicate any timeframe when it is going to become a law. She also mentioned that India would focus on creating additional hospital beds to cater to the emerging needs. Also, there will be focused programs to increase the availability of medical professionals, including doctors and for training medical professionals on a continuous basis in technology related areas.
Earlier, in his welcome address, Mr Himanshu Baid, Chairman, Medical Technology Committee of CII, mentioned that medical technology manufacturing sector was growing at a CAGR of 15 per cent and according to Deloitte estimate, it would become a US$ 150 billion in a relatively shorter timeframe. Increasing the public expenditure on health, early enactment of the Medical Devices legislation, creating an eco system for development of the segment etc are some of the challenges pointed out by him.
Mr Suresh Vazirani, Chairman and Managing Director, Transasia Bio Medicals Ltd. and Dr Shubnum Singh, Director, Max Healthcare Institute also spoke at the meeting.
7 September 2017