National Medical Devices Policy 2023

National Medical Devices Policy 2023

News: Recently, The Union Cabinet has approved the National Medical Devices Policy, 2023.
 

Key objectives:

❯ Facilitating growth - The medical devices sector is a fast-growing sunrise sector in India with a 5% share in the global medical device market.

❯ Accelerated growth path with a patient-centric approach and to emerge as the global leader in the manufacturing and innovation of medical devices by achieving 10-12% share in the expanding global market over the next 25 years.

❯ Policy is expected to help the Medical Devices Sector grow from present $11 Bn to $50 Bn by 2030.

❯ Encouraging domestic investments and production of medical devices

❯ Promote the safety and efficacy of medical devices

❯ Provide support in training and capacity-building programs
 

Strategies to promote Medical Device sector:

❯ Regulatory Streamlining - Creation of a Single Window Clearance System' for Licensing of Medical Devices and enhancing the Role of Indian Standards like BIS and designing a coherent pricing regulation.

❯ Enabling Infrastructure - Establishment and strengthening of large medical device parks, clusters equipped with world class common infrastructure facilities in proximity to economic zones with requisite logistics connectivity as envisioned under the National Industrial Corridor Program and the proposed National Logistics Policy.

❯ Facilitating R&D and Innovation - Supporting investments through schemes and interventions like Make in India, Ayushman Bharat program, Heal-in-India, Start-up mission, and encouraging public-private partnerships.

❯ Human Resources Development - Skilling, reskilling, and upskilling of professionals in the medical device sector.

❯ Brand Positioning and Awareness Creation
 

Way Forward

The policy is expected to provide the required support and directions to strengthen the medical devices industry into a competitive, self-reliant, resilient and innovative industry that caters to the healthcare needs of not only India but also of the world. The National Medical Devices Policy, 2023 aims to place the medical devices sector on an accelerated path of growth with a patient-centric approach to meet the evolving healthcare needs of patients.