To achieve our vision of #ViksitBharat by 2047, we can’t be working in silos. Embracing PPPs within the country as well as with other countries for both financial and knowledge resources will help align our vision- Dr Jitendra Singh
To strengthen our MedTech industry, we must prioritize "Make in India" and ensure high-quality care. Our goal should be to produce zero-defect equipment and to create an ecosystem that upholds highest standards, bridging the trust gap- Dr Paul
Ministry is spearheading efforts towards bring a separate marketing code for medical devices- Dr Arunish Chawla
India applies for international medical device regulators forum (IMDRF) Forum membership- a giant step
The 16th CII Global MedTech Summit 2024, organized by the Confederation of Indian Industry (CII), is being held on August 6, 2024, bringing together industry leaders, policymakers, and innovators to discuss the evolving landscape of the MedTech industry in India. The summit features in-depth discussions by stakeholders on the regulatory reforms necessary to enhance the MedTech ecosystem, focusing on innovation and advanced technologies. Emphasizing value-based procurement, the summit shifts the focus from cost-driven to outcome-driven processes. Additionally, it highlights India's potential as a global hub for medical device manufacturing and investment, examining the factors that attract multinational companies and start-ups.
Dr Jitendra Singh, Minister of State (I/C) of the Ministry of Science and Technology and Ministry of Earth Sciences, Minister of State in the Prime Minister’s Office, Ministry of Personnel, Public Grievances and Pensions, Department of Atomic Energy and Department of Space emphasized the need for a collaborative approach to achieve the vision of Viksit Bharat by 2047. He highlighted that working in silos is not an option; instead, fostering collaboration across industry, academia, and government is essential. Dr. Singh underscored the importance of Public-Private Partnerships (PPPs), both within the country and with international entities, to harness financial and knowledge resources. He stressed the need for strategies and benchmarks that align with global standards to secure international recognition. Dr. Singh noted the remarkable growth in the Biotechnology industry post-COVID, with BIRAC playing a pivotal role. The number of startups has surged from around 50 before the pandemic to 5,000-6,000 today. He highlighted India’s rise as a top global manufacturer known for its cost-effectiveness over the past five years. He acknowledged the country's significant advantages, including a strong research and development ecosystem and a vast resource pool, which position the MedTech sector as a potential revenue generator. However, he also recognized the challenges posed by India’s diverse and heterogeneous landscape, where solutions that work in one region may not be applicable in another. Looking to the future, he anticipated that Artificial Intelligence (AI) would play a transformative role in the coming years.
Dr. Vinod K. Paul, Member, NITI Aayog stressed the importance of a comprehensive approach to advancing India's MedTech sector. He highlighted the pivotal role that innovation and technology play in making healthcare more accessible, affordable, and reliable. Dr. Paul emphasized the need to create a supportive ecosystem for research, development, and manufacturing of medical devices. He underscored the necessity of prioritizing quality and zero-defect products in the industry and praised the sector's progress in developing neonatal care equipment. He also addressed the potential of AI and IoT in enhancing primary healthcare, specifically through improved screening mechanisms for conditions like eye care in children. Dr. Paul advocated for a code of conduct to uphold the highest standards in medical devices. He urged the industry to capitalize on the facilitating ecosystem and policies in place and prioritize innovation.
Dr. Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers outlined the strategic significance of the MedTech sector in India's healthcare landscape. He detailed the government's initiatives to streamline regulatory processes, foster research and innovation, and strengthen industry-academia collaboration. Dr. Chawla highlighted the development of new MedTech parks and greenfield projects, as well as the success of the MedTech Stackathon. He emphasized the importance of addressing industry feedback and fostering collective efforts to harness the full potential of the MedTech sector for improved health outcomes and economic growth. He informed that Ministry is working towards bring a separate marketing code for medical devices.
Mr. Awadhesh Kumar Choudhary, Sr. Economic Advisor, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers discussed the government's efforts to create a supportive policy environment for the MedTech industry. He provided insights into current schemes that support MSMEs and the liberalization of FDI policies. Mr. Choudhary addressed the need to resolve issues related to inverted duty structures and regulatory barriers to promote industry growth and collaboration.
Dr. Rajeev Singh Raghuvanshi, Drugs Controller General of India, Central Drugs Standard Control Organisation provided an update on the regulatory framework for medical devices in India. He discussed the significance of the Drugs, Medical Devices, and Cosmetics Bill 2022 in enhancing regulatory standards and ensuring the safety and efficacy of medical devices. Dr. Raghuvanshi highlighted the government's commitment to simplifying regulations and promoting ease of business to attract more investments. He shared that the sector is currently valued at USD 11 billion and projected to reach USD 50 billion by 2030. He noted the 80% import dependency and emphasized the need for quality and innovation. He also mentioned that India's has applied to International Medical Device Regulators Forum (IMDRF) membership.
Mr. Himanshu Baid, Chairman, CII National Medical Technology Forum & Managing Director, Poly Medicure Ltd. highlighted the MedTech sector's progress and challenges, focusing on its potential to become a global leader. He stated that MedTech has come out of shadows of drugs and pharma industry and now standing as an independent industry with regulatory and government support. He discussed the importance of local manufacturing and the need for harmonization of regulatory reforms to support this growth. Mr. Baid highlighted the success of the MedTech Mitra initiative and the sector's growth trajectory, with projections reaching USD 50 billion in the next 5-6 years. He called for a uniform code for medical device marketing practices and the fast-tracking of the New Drugs, Medical Devices, and Cosmetics Bill.
Mr. Hariharan Subramaniam, Co-Chairman, CII National Medical Technology Forum & Managing Director, Siemens Healthcare Private Limited discussed the promising future of India’s MedTech sector, driven by increasing demand for healthcare services and supportive government policies. He highlighted the sector's growth prospects and the role of effective policy frameworks in establishing India as a global MedTech hub. Mr. Subramaniam emphasized that this is a crucial period for India to solidify its leadership position in healthcare innovation and accessibility, and to capitalize on significant growth opportunities in the coming decade.
6 August 2024
New Delhi