The Union Minister for Science and Technology and Earth Sciences, Dr. Harsh Vardhan has called for various Medical Technology (Med-Tech) Innovations developed by the Department of Biotechnology to be taken forward for Make-in-India. Sharing details on several such new affordable products of public health relevance, at a Press Conference in New Delhi on January 12, he said innovations in health care and medical technology are especially of paramount importance to achieve self reliance. The Minister said the ‘Make in India’ initiative led by the Prime Minister aims to transform the country and propel the country to greater heights through social and economic growth
Dr. Harsh Vardhan informed the gathering that
• Medical Technology industry in India is currently the fourth largest in Asia; and India was valued at US$6.3 billion in 2013
• Growing at 10-12% per year until 2025 implies an overall healthcare spend of US$250-350 billion;
• Current penetration levels of 8% implies a domestic market of $20–25 billion;
• Globally the medical technology market is expected to be $600 billion by 2025 implying a manufacturing base of $200 billion by then;
• India will capture 10% of that share by 2025 in line with China’s share today. This will lead to an opportunity of at least $20 billion by 2025;
• Indian device market consists of medical instruments, orthopedic and ophthalmic devices, syringes, needles, catheters, scanning devices and bandages;
The Press Conference was also attended by Dr. Vijay Raghavan, Secretary, DBT, and other senior DBT officials.
Speaking on the occasion the Executive Director of the School of International Bio-design, Dr. Balram Bhargava of the All India Institute of Medical Sciences said their objective is to promote Global, Affordable, Need Driven, Health Innovation (GANDHI). He said one 110 Innovators have been trained, 34 medical devices have been developed and 51 Provisional Patents have been obtained as they are trying to achieve the objective of Make in India by developing low cost medical devices for the common man. More than 10 Med-Tech Products (devices & diagnostics) supported by Biotechnology Industry Research Assistance Council (BIRAC) have been commercialized.