The availability and monitoring of medical devices in the Indian market have been addressed through various studies and government initiatives aimed at improving the sector's performance and ensuring better healthcare outcomes.
A significant portion of medical devices in India is imported, with imports constituting around 75-80% of the market. This high dependency on imports underscores the need for effective monitoring to ensure availability and quality. The Indian government has recognized this and has been taking steps to enhance the domestic manufacturing of medical devices.
Key initiatives include the Make in India campaign, the Production Linked Incentive (PLI) scheme, and the establishment of medical device parks. These measures are designed to reduce import dependency and boost local production. For instance, the PLI scheme has approved 26 projects with significant investments, leading to the domestic production of advanced medical devices like MRI machines and CT scanners.
Moreover, the National Medical Devices Policy, 2023, focuses on promoting R&D, attracting investments, and developing human resources in the sector. The policy aims to create a comprehensive framework to support the growth of the medical devices industry, ensuring it becomes more self-reliant and competitive globally.
To support the monitoring and availability of medical devices, the Ministry of Health and Family Welfare (MoHFW) and the Central Drugs Standard Control Organisation (CDSCO) have implemented initiatives like Schedule MIII for good manufacturing practices and extended the validity of free sales certificates to facilitate exports.
These efforts are complemented by market analyses and reports that track the growth and challenges of the medical devices sector. The market is projected to grow significantly, reaching INR 4,358.64 billion by FY 2027, with a CAGR of around 41.93%.
Overall, the combination of government policies, market growth, and regulatory measures highlights a robust approach to monitoring and ensuring the availability of medical devices in India.
Dr Sreelatha Reddy Ch
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