BioSpectrum India Magazine November issue BioSpectrum India Magazine | Page 29

www.biospectrumindia.com | November 2017 | BioSpectrum September in New Delhi. Explaining the various initiatives the government has taken in promoting the medical technology, Anupriya Singh Patel, Minister of State for Health, Government of India said that the web based health management system introduced by the government at the states’ levels is creating not only a strong infrastructure for monitoring the progress made in the health sector but also in minimizing the huge health losses being incurred in states due to inadequate health infrastructure. The Minister underscored the importance being assigned to education and innovation in tackling the healthcare needs of the people. In this regard, she referred to the use of mobile applications and introduction of visual platforms in states like Uttar Pradesh for extending healthcare to maximum number of people especially in the rural areas. By the end of 2018, she assured that there would be radical transformation in the medical technology sector in India wherein India could help cut down imports and also to look at some of the export outlets. Mentioning that 100 per cent Foreign Direct Investment (FDI) is allowed in the medical COVERStory technology manufacturing sector, the Minister said that the new medical devices parks envisaged in states like Gujarat, Tamil Nadu etc. would augment the production. The Commerce Ministry is also supporting the Health Ministry is setting up medical devices manufacturing units. About the proposed Medical Devices Bill, the Health Minister said that soon it would become a law creating the much needed single window for clearances related to setting up medical equipment manufacturing units. However, she did not indicate any timeframe when it is going to become a law. She also mentioned that India would focus on creating additional hospital beds to cater to the emerging needs. Also, there will be focused programmes to increase the availability of medical professionals, including doctors and for training medical professionals on a continuous basis in technology related areas. Technological advancement and expertise coupled with government support has proved to be advantageous for the sector. With medical parks planned in Gujarat, Andhra Pradesh and Maharashtra and emphasis on excellence in Research and Development, the medical devices industry in India is poised to cross a market size of $ 50 billion by 2025. India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high- end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of population. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep. “The fillip being given to the medical devices sector in India is likely to generate interest in both Indian and global devices players. This high potential of Asia Pacific, including India – given the favorable economic, demographic and healthcare trends – is attracting attention from medical device manufacturers looking for investment and expansion,” said Simranjit Singh, Medical Devices & Diagnostics Head, QuintilesIMS Asia. With the introduction of the Medical Device Rules, 2017, the medical device industry in India is certain to receive a fillip. Therefore, the medical devices industry in India continues to offer unparalleled opportunities to present and potential stake holders, now more than ever before. Narayan Kulkarni [email protected] (Inputs from Kalyani Sharma) 29