41 are on the rise & contribute to higher demand of healthcare support. » Sixthly, an enabling policy environment has been a game- changer in garnering the confidence of the leading global investors towards the Indian market & a staggering USD 2.8 Billion FDI inflow has been registered during April 2000 – March 2023. » Government Incentives & Policy Support: Ensuring Accessible, Affordable, Quality Healthcare The Government of India has left no stone untouched to incentivize domestic manufacturing of medical devices & strives to make India the “global manufacturing hub”. Through various schemes & policies of the government, the vision of “Make in India, Make for the World” will soon be a reality. Some of the key incentives offered by the government include: » FDI, up-to 100 percent under the automatic route is permitted for the manufacturing of medical devices. » Production-Linked Incentive (PLI) Scheme has been launched by the Government to boost domestic manufacturing in the medical device industry. The scheme proposes a financial incentive to the manufacturers to attract large-scale investments in the medical device sector. The total scheme outlay is to the tune of more than USD 450 Million & tenure of the scheme spans across FY21-28. As of date, a total of 26 applications have been approved with an approved investment of USD 150 Million. Target segments for the scheme are: i. Cancer care/Radiotherapy ii. Radiology/Imaging Medical Devices/Nuclear Imaging Devices iii. Anesthetics & Cardio-respiratory devices iv. All implants including electronic medical devices » The Scheme for Promotion of Medical Device Parks has been launched with a financial outlay to the tune of nearly USD 50 Million & tenure of the scheme spans across FY21-25. The scheme aims to significantly reduce manufacturing cost, optimize resources, leverage the economies of scale & provide easy access to standard testing & infrastructure facilities. The 4 approved medical device parks will be coming up in the states of Himachal Pradesh, Madhya Pradesh, Uttar Pradesh & Tamil Nadu. » National Medical Devices Policy 2023 envisions to place the Indian medical devices sector on an accelerated growth path with a patient-centric approach. India aims to emerge as the global leader in the manufacturing & innovation of medical devices by achieving 10-12 percent share in the expanding global market by the time India completes 100 years of freedom, in 2047. » Assistance to Medical Device Clusters for Common Facilities Scheme aims to strengthen Medical Device clusters in India by providing financial assistance for creation of Common Infrastructure Facilities & to establish more testing laboratories for Medical Devices to improve quality & sustainable growth. » Success Stories: Treading the path of becoming the global manufacturing hub The investor-friendly atmosphere of India provides a fertile ground for the global medical device companies to set up their manufacturing facilities in India. PLI Scheme for Medical Devices acts as an additional fillip for the companies to expand their Indian manufacturing footprint. A few of them include: » American-origin GE Healthcare has established its new manufacturing facility in Bengaluru, India under the PLI scheme. This 35,000 sq. ft. facility is set up for 24/7 operations for manufacturing CT machines, cathlab equipment, ultrasound scanners, patient monitoring solutions, ventilators with a committed investment of USD 12.7 Million. » German-origin Siemens Healthineers is a PLI – approved applicant & has recently set up a new production line of Computed Tomography scanners & Magnetic Resonance Imaging in Bengaluru (India) facility. They have committed an investment of USD 11.2 Million. » Japanese-origin OMRON Healthcare, another PLI – approved applicant intends to commence operations in its Tamil Nadu (India) plant by 2025 for manufacturing automatic blood pressure monitors & supply them to domestic market. » The road towards 100 years of independence: Azadi ka Amrit Kaal… Originally identified as a sunrise sector, the medical devices industry is now ripe to bloom and shine brightly. The National Medical Devices Policy 2023 lays down a roadmap for accelerated growth of the medical devices sector to achieve Access & Universality, Affordability, Quality, Patient-Centred & Quality Care, Preventive & Promotive Health, Security, Research and Innovation and Skilled Manpower. The upcoming Medical Device Parks across the length & breadth of the country will provide state- of-the-art common infrastructure facilities at one place hence creating a robust ecosystem for the medical device manufacturing in the country. The opportunities to tap into the Indian market are immense. India has already become the 5th largest economy in the world & the Government of India firmly believes that we will be a USD 30 Trillion economy when we celebrate 100 years of independence in 2047. With the ideology of Vasudhaiva Kutumbakam (meaning: The World is One Family), India is ready to welcome the global investors & stands upright to realize the dream of “Atmanirbhar Bharat (meaning: Self-reliant India)”. REFERENCES: 1. Investment Opportunities in India’s Healthcare Sector 2. National Medical Devices Policy 2023 3. Assistance to Medical Device Clusters for Common Facilities (AMD-CF) 4. Scheme for Promotion of Medical Device Parks 5. Production Linked Incentive Scheme for Medical Devices 6. Central Drugs Standard Control Organization SPECTARIS Jahrbuch 2023/2024 | Medizintechnik
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