highlights
India’s market is growing in the field of medical devices. Manufacturing of 37 medical devices is going on in India.
National medical device policy 2023: The Central Government has recently implemented the National Medical Device Policy 2023. The policy was awaited in the medical device sector from the year 2014, although it is over now. The central government says that this policy can bring a tremendous revolution in the medical industry including the healthcare sector. According to an estimate, the current $ 11 billion market will become $ 50 billion by 2030. The foreign equipments that are imported now are very expensive, whereas if they are produced at home, they will become much cheaper and the patients will be greatly benefited. However, let us know what the experts associated with this industry have to say regarding this policy of the Centre.
Speaking to connexionblogHindi, Forum Coordinator of the Association of Indian Medical Device Industry, Rajeev Nath says that everyone associated with this industry is happy that the national policy regarding medical devices has been implemented. This industry will definitely progress under this policy. Whatever demands are there for this, separate law, separate department, tariff correction and price control, they will be fulfilled and it will directly benefit the consumer and the growth of the industry. If the government acts like a doctor, the patient will not reach the ICU, but will come out laughing from the ward itself.
This is the demand of the industry on the recommendations of the government in the policy
, Regulations should be streamlined. There should be a separate law for this, this demand is being made in India.
, The second recommendation is to increase investment but the question is how will the investment be? There is a demand for tariff correction.
, Along with investment, there should be R&D-innovation. AIMD demands that the manufacturer should get rid of the law which treats them like criminals. Get the freedom to make innovative products.
, Scaling and upscaling. Academic courses should be improved.
, The next recommendation states that the Export Promotion Council will be used for Brand India. it’s helpful.
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What is the problem now?
Rajeev Nath says, ‘As we feel, the consumer will benefit from this policy. So far there is no restriction or capping on the prices of medical devices from the government. Especially some private hospitals give the brand they want to the consumer on their own free will. In this, they see more profit than the need of the patient. They consume high cost or MRP goods instead of low cost low cost goods. Because of this, the manufacturer or importer of India is tied up. Due to trade in equipment, importers have to keep MRP artificially high.
Consumer will get this benefit
Nath says that with the introduction of this policy, prices will be monitored and these things will be controlled. This will reduce the maximum retail price of any device and the consumer will be able to get goods at lower prices. The second manufacturer will also benefit. As happened after capping the price of stents. Making India has grown a lot in stents. Imports have also reduced and patients have also benefited.
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Tags: Medical, Medical Devices, Modi government
FIRST PUBLISHED : April 30, 2023, 21:14 IST
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