Will India’s MedTech Sector Finally Shift From Imports to Self-Reliance?

The newly launched MedTech scheme by the Indian government has ignited discussions across the medical community. With an outlay of ?500 crore, this initiative aims to push India’s medical device sector beyond its current dependency on imports, which still accounts for 70% of the market. This dependency, although reduced from 90%, leaves immense room for growth. Imagine a future where India no longer relies on imported medical devices, but becomes a global hub for MedTech innovation.

Why is this shift significant? Unlike previous incentives primarily benefiting large corporations, this scheme focuses on domestic small and medium enterprises (SMEs), empowering them to manufacture critical components and finished products in India.

Rajiv Nath, of the Association of Indian Medical Device Industry, calls it a “ground-breaking strategy” aligning with India’s ambitious vision to reach a $50 billion market size by 2030.

By fostering local manufacturing, the scheme is expected to reduce device costs by 5-7%, address skill shortages, and enable long-term contracts with healthcare providers—a true win for both manufacturers and patients. This means not only more affordable healthcare but also robust job creation and industry growth.

Could this be India’s defining moment in MedTech? With strengthened infrastructure, research support, and export potential, the stage is set. If implemented successfully, this initiative could revolutionize the sector, positioning India as a leading player in the global MedTech landscape.

Are you ready to witness a healthcare transformation?

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