National Medical Devices Policy 2023: The Union Cabinet has approved the National Medical Devices Policy 2023. With this, India is expected to witness a structured growth of the medical device sector to meet the public health objectives of access, affordability, quality, and innovation.
The policy lays down a roadmap for accelerated growth of the medical devices sector and is welcomed by experts.
According to Vaibhav Tewari, Co-founder & CEO, Portea Medical, the policy will provide a comprehensive and coordinated approach to the growth of the medical device sector in India, and help achieve the public health objectives of access, affordability, quality, and innovation.
“With our focus on delivering quality healthcare services to patients in the comfort of their homes, we are excited about the potential of this policy to drive innovation, enhance regulatory processes, and support the development of a skilled workforce in the medical device sector. Portea remains committed to supporting the government’s efforts towards achieving universal healthcare and a self-reliant India,” Tewari said.
Runam Mehta, CEO, HealthCube, feels that it is a commendable step towards promoting the medical devices sector in India, which intends to capture 10-12% of the expanding global market within the next 25 years.
“The policy outlines critical strategies such as regulatory simplification, infrastructure development, R&D, innovation facilitation, investment attraction, human resource development, and brand positioning. I believe this will further boost the economy by creating an ecosystem for manufacturing medical devices, promoting innovation, providing support for training and capacity building, and encouraging domestic investments, transforming India into a medical device manufacturing and innovation hub. The policy advances the growth of the medical device sector and realizes public health goals of accessibility, affordability, quality, and innovation. It is a significant step towards achieving the vision of making quality healthcare accessible to all,” Mehta said.
Ecohing her views, Nilesh Aggarwal, CEO, IJCP Group and Founder, MedTalks, the policy seeks to ensure the quality and safety of medical devices, drive innovation, and promote domestic production.
“By introducing robust regulations, we can provide patients with greater assurance in medical devices and enable better outcomes for healthcare providers. It is encouraging to see the government’s commitment to making medical devices more accessible and affordable. I am confident that this policy will greatly benefit our country in achieving this goal,” Aggarwal added.