Cabinet approves medical devices policy to help sector grow to USD 50 billion in next 5 years

Policy aims to place medical devices sector on an accelerated path of growth with a patient-centric approach to meet the evolving healthcare needs of patients

The Union Cabinet on Wednesday approved National Medical Devices Policy 2023 to promote domestic manufacturing and help the sunrise sector grow from the present USD 11 billion to USD 50 billion in the next five years and reduce import dependence.

The policy focuses on six strategies to tap the potential of the sector with the ‘implementation of action plan’.

Briefing media after the Cabinet meeting, Union Health Minister Mansukh Mandaviya said there has been a rising demand for medical devices in India, and so, there is a need to promote domestic manufacturing.

The minister also said that in the globalised world there would also be imports, but the aim of the National Medical Devices Policy 2023 is to meet the maximum requirements from locally manufactured products.

https://www.tribuneindia.com/news/nation/cabinet-approves-medical-devices-policy-to-help-sector-grow-to-usd-50-billion-in-next-5-years-501244