Search Result for : Medical Devices Industry

The Dollar Business Bureau Indian healthcare market is expected to increase threefold to touch $372 billion by 2022, registering a growth of 22% annually, according to a study. “India’s healthcare market may see threefold rise as its size in value terms is likely to reach $372 billion by 2022 from the level of $110 billion as of 2016 thereby clocking a compounded annual growth rate (CAGR) of 22%, said a statement by ASSOCHAM on Sunday. The findings are based on a paper on ‘Indian Healthcare Sector - An Overview’, jointly prepared by ASSOCHAM and the research firm RNCOS. On the reasons for the likely growth, the paper noted that increasing demand for affordable healthcare delivery system in India due to rising healthcare costs, growing ...

The Dollar Business Bureau India is a large producer of certain medical equipment and export incentives are available for some products.However, there is a need for further capacity building in this segment along with focus on quality enhancement for further reduction in imports, said the Confederation of Indian Industry (CII). The industry body has sent a list of recommendations to the Department of Pharmaceuticals (DoP) and sought infrastructure support to boost manufacturing in the medical technology sector, in line with the government’s ‘Make in India’ mission. Key recommendations include attracting big global medical technology companies to cre­ate a base for com­ponents ecosystem, enhance local manu­facturing capability and establish ancillary industry to ensure significant value addition in finished medical equipment. The CII ...

Interview by Sai Nikesh | The Dollar Business The Dollar Business (TDB): Are there any notable improvements in the Indian medical devices industry post the issuing of ‘National Medical Devices Policy-2015’ by the Department of Pharmaceuticals? Pavan Garikapati (PG): Draft NMDP 2015 was released by Department of Pharmaceuticals on June 3, 2015. Three major points of the policy are Promotion of Industry, Promotion of Quality and Promotion of Skills. It is highly commendable to focus on these aspects. This policy has great potential to boost the quality, reliability and competitiveness of the Indian Medical Device industry. However, the details need to be chalked out to implement this policy. The regulations should be aligned to the policy. The policies can be prioritized ...