New Delhi, Oct 07: India has quickly ascended among the many world’s high healthcare know-how producers, providing high-tech medical gadgets at a fraction of the price of different nations, Union Minister Dr Jitendra Singh mentioned on Saturday. 

Speaking on the eighth CAHOTECH, the Annual International Healthcare Technology Conference organized by Consortium of Accredited Healthcare Organizations (CAHO) in New Delhi, Dr Singh emphasised India’s prowess in producing life-saving, high-risk medical gadgets at remarkably inexpensive charges. 

India’s rising status within the international healthcare know-how enviornment was highlighted by Dr Singh, who outlined the nation’s efforts to turn into the worldwide hub of medical know-how. Under Prime Minister Narendra Modi’s management, India is taking substantial steps to boost its manufacturing capabilities, with a imaginative and prescient to make the nation a number one medical gadgets hub. 

Dr Jitendra famous that India’s market dimension in medical know-how is predicted to achieve as much as US$ 50 billion by 2050, a major rise from the present $11 billion (roughly Rs 90,000 Crores). He expressed the federal government’s ambition to extend India’s market share from 1.5% to 10-12% over the following 25 years. 

The union minister emphasised the significance of medical gadgets as a precedence sector for the Modi Government, citing initiatives just like the National Medical Device Policy 2023 and the institution of the Export-Promotion Council for Medical Devices. He additionally talked about the 100% Foreign Direct Investment (FDI) below the automated route for each Greenfield & Brownfield setups, the Promotion of Medical Devices Parks scheme, and the Production-Linked Incentive (PLI) scheme, which has already led to the home manufacturing of 43 essential Active Pharmaceutical Ingredients (APIs) that had been beforehand imported. Moreover, Dr. Singh highlighted the federal government’s help for organising Medical Devices Parks in numerous states, underlining the dedication to strengthening the indigenously manufacturing ecosystem. 

Dr Singh showcased India’s improvements, together with the superior Magnetic Resonance Imaging (MRI) Scanner launched earlier this 12 months. This state-of-the-art MRI scanner, developed indigenously, is just not solely inexpensive but in addition guarantees to considerably cut back the price of MRI scanning for widespread individuals

With almost 70% of the world’s inhabitants missing entry to MRI diagnostic modality attributable to prohibitive prices, India’s innovation addresses a vital hole, he mentioned and emphasised that this achievement aligns with the federal government’s mission to enhance healthcare entry and inclusiveness, together with initiatives just like the flagship Ayushman Bharat program. 

Dr Jitendra spotlighted India’s developments in medical know-how, such because the SBRT-enabled Linear Accelerator (LINAC) named SiddharthII, developed by Panacea Medical Technologies Pvt. Ltd., Bangalore. This cutting-edge machine is able to performing remedy modalities like 3DCRT, VMAT, IMRT, SBRT, and SRS. The LINAC, adhering to the ‘Make in India’ initiative, could be exported globally, receiving clearance from the US FDA, highlighting India’s competitiveness on the worldwide stage.

Dr Singh additionally mentioned the most recent draft of the Drugs, Medical Devices, and Cosmetics Bill 2023, which incorporates provisions to manage, prohibit, or ban on-line sale or distribution of medicine, aligning with India’s give attention to preventive healthcare and mass screening, important parts for India’s envisioned development trajectory outlined by PM Modi. 

India’s achievements in healthcare know-how, marked by innovation, affordability, and international competitiveness, had been on the forefront of Dr Jitendra Singh’s handle, underscoring the nation’s dedication to make healthcare accessible and inclusive for all.