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New Delhi, December 20, 2024 – Union Minister of State for Health and Family Welfare, Smt. Anupriya Patel, addressed the 21st Confederation of Indian Industry (CII) Health Summit, emphasizing India’s rapid strides in the medical devices sector and the transformative potential of technology in healthcare. Themed “Transforming Healthcare for Viksit Bharat 2047,” the summit brought together industry leaders and policymakers to chart the future of healthcare in India.
In her keynote speech during the plenary session, “Charting India’s MedTech Revolution: MedTech Expansion Roadmap to 2047,” Smt. Patel described the medical devices sector as a “sunrise sector” with immense growth potential. “Driven by increasing healthcare needs, technological innovations, and government support, the sector is projected to grow from its current size of $14 billion to $30 billion by 2030,” she noted. She highlighted that India is now the fourth-largest medical devices market in Asia and among the top 20 globally.
MedTech as a Catalyst for Healthcare Transformation
Calling the MedTech industry a crucial component of the healthcare ecosystem, Smt. Patel said, “MedTech links patients, providers, and regulators, holding the promise to revolutionize healthcare delivery and outcomes in India and globally.”
She also underscored the transformative role of artificial intelligence (AI) in healthcare, stating that “AI innovation is critical for tackling healthcare challenges and exploring new opportunities.”
Policy Push for Growth and Innovation
The Union Minister elaborated on key policy initiatives aimed at fostering growth in the medical devices sector. These include:
- 100% FDI under the automatic route.
- National Medical Device Policy 2023, focusing on regulatory streamlining, infrastructure development, R&D, and skill enhancement.
- Creation of Centres of Excellence and specialized courses at the National Institute of Pharmaceutical Education and Research (NIPERs).
Highlighting export potential, Smt. Patel announced the establishment of the Export Promotion Council for Medical Devices (EPCMD) and the reconstitution of the National Medical Devices Promotion Council (NMDPC) to promote exports and ease regulatory processes.
Additionally, she mentioned the Scheme for Promotion of Medical Devices Parks with a ₹400 crore allocation for infrastructure development in Uttar Pradesh, Tamil Nadu, Madhya Pradesh, and Himachal Pradesh. Another initiative, the Promotion of Research in Pharma-Medtech Sector (PRIP) with a ₹500 crore outlay, aims to drive innovation, enhance manufacturing capabilities, and support skill development.
Healthcare as a Driver of Economic Growth
Union Health Secretary, Smt. Punya Salila Srivastava, highlighted the economic and social imperatives of healthcare, calling it a “critical component of India’s vision for a developed nation by 2047.” She stressed the importance of affordability, accessibility, and inclusivity in healthcare delivery, citing initiatives such as PM-JAY and Ayushman Bharat Digital Mission as examples of progress.
She also emphasized the pivotal role of the private sector in advancing healthcare in Tier-2 and Tier-3 cities, promoting value-based care models, and expanding the healthcare workforce. “Public-private partnerships and a focus on preventive care will be instrumental in achieving Universal Health Coverage,” she said.
Commitment to a Healthier India
In closing, Smt. Srivastava highlighted the government’s focus on eradicating diseases like tuberculosis through initiatives such as the 100 Days Intensified TB Campaign, launched by Union Health Minister Shri JP Nadda.
“The government, along with the private sector and civil society, is committed to transforming India into a global healthcare leader by 2047,” she said.
The summit also saw participation from prominent healthcare leaders, including Dr. Naresh Trehan, Chairman of CII National Healthcare Council, and senior representatives from Apollo Hospitals, Medanta, and Manipal Health Enterprises.
The event marked a significant step in India’s journey toward becoming a global MedTech hub and achieving a healthier, more prosperous future.
