• UGI USER
  • Dec 27, 2023
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MedTech Mitra

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News

  • MedTech Mitra is a strategic initiative that the Union Health Minister launched with the goal of empowering MedTech innovators and advancing healthcare solutions.
  • Minister predicted that it would revolutionize the Indian MedTech sector and encourage homegrown production of reasonably priced, high-quality MedTech diagnostics and equipment.
  • He also stated that the medical device industry is a crucial part of India’s healthcare system and will be crucial for India in approaching health from a holistic standpoint, hoping to change the nation’s health system by 2047.

About MedTech Mitra

  • MedTech Mitra is a platform that will assist the nation’s young talent by holding their hands, giving their knowledge, research, and reasoning a final form, and assisting them in obtaining regulatory approval.
  • India’s healthcare system is significantly dependent on the medical device industry as India is pursuing a holistic approach to health with the goal of revolutionizing the nation’s healthcare system by 2047, in line with the Viksit Bharat vision.
  • In order to create an Atmanirbhar Bharat, MedTech Mitra will facilitate innovation, ease research and development, and ease service delivery for nascent start-ups.
About medical device sector in India

●  It is projected that the medical device market in India will reach a value of $11 billion (roughly ₹ 90,000 Cr) by 2020, accounting for 1.5% of the global medical device market and in 2023, the Indian medical device market is expected to generate $7,325.00 million in revenue (statista.com).

●  India’s medical device industry is a burgeoning one that is expanding swiftly. It is a crucial and fundamental part of the healthcare industry in India. The Indian medical device industry is expanding and has a great deal of potential to become self-sufficient and help achieve the goal of universal health care.

●  Under the automatic route, 100% FDI is permitted for the same.

statista.com

Source: Newsonair

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