INTERNATIONAL CONFERENCE ON PHARMA AND MEDICAL DEVICES SECTOR

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Context: The Union Minister for Chemicals and Fertilizers and Health & Family Welfare has inaugurated the International Conference on Pharma and Medical Devices sector 2022.

Details

• The Union Minister for Chemicals & Fertilizers and Health & Family Welfare, Dr Mansukh Mandaviya has inaugurated the International Conference on Pharma and Medical Devices sector 2022.
• The Union Minister has stated that the Conferences like India Pharma and India Medical Device 2022 provide a platform for industry, academia and policymakers to brainstorm and draft a plan for the next 25 years for the sector.
• The Union Minister said that we need to focus on R&D and innovation to ensure quality, accessibility and affordability in the Indian pharma and medical device sector.
• He highlighted that India is the 5th largest pharma hub in the world in terms of production.
• He noted that the Indian medical device sector is currently standing at $11 billion and is likely to reach $ 50 billion by 2025.
• He highlighted that at present India imports over 80 % of medical devices.
• The India Pharma is designed around the theme: 'India Pharma-Vision 2047: Transformative agenda for future'.
• For India Medical Device, the theme is 'Transforming Healthcare through Innovation & Integrated Services'.

Significance of the Medical Device Sector

• The medical devices sector in India is an essential and integral constituent of the Indian healthcare sector, particularly for the prevention, diagnosis, treatment and management of all medical conditions, diseases, illnesses, and disabilities.
• The Sector is expected to grow in market size from the present 11 billion US dollars to 50 billion US dollars by 2025.
• The medical device is a multi-product sector, with the following broad classifications:
  • Electronics Equipment
  • Implants
  • Consumables and Disposables
  • Surgical Instruments.
• The Indian medical devices sector’s contribution has become even more prominent as India supported the global battle against the COVID-19 pandemic through the production of medical devices and diagnostic kits, e.g., Ventilators, RT-PCR kits, IR Thermometers, PPE Kits & N-95 masks.

Draft National Medical Devices Policy 2022

• The Ministry of Chemicals and Fertilizers said that the Draft policy aims at addressing the core objectives of accessibility, affordability, safety and quality, focusing on self-sustainability, innovation and growth in the medical devices sector.
• Regulatory streamlining to optimize regulatory processes and promote ease of doing business.
• Quality Standards and Safety of the Devices to provide safety devices to the consumers.
• Infrastructure Development to provide the best physical foundation, including medical devices parks with common facilities such as testing centres, to improve cost competitiveness and enhance the attraction of domestic manufacturers.
• Promoting Research and Development and Innovation.
• Human Resource Development to create manpower with required skills.
• Awareness Creation and Brand Positioning in creating awareness and positioning India as a hub for manufacturing of medical devices as part of the “Make in India, Make for the World” initiative.
• This Policy targets that by 2047, our Country
  • Will be home and originator to 25 high-end futuristic technologies in MedTech.
  • Will have a MedTech Industry of $100-300 Billion size with 10-12% of Global Market Share.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1819849