Draft National Policy For The Medical Devices, 2022:
The Department of Pharmaceuticals (DoP), Ministry of Chemicals and Fertilizers released an Approach Paper for the Draft National Policy for the Medical Devices, 2022.
- Nearly 80% of the medical devices currently sold in the country are imported, particularly high-end devices.
- This new policy aims to reduce India’s import dependence to nearly 30% in the next 10 years.
- The policy aims to increase India’s per capita spending on medical devices.
- India has one of the lowest per capita spend on medical devices at $3 compared to the global average of per capita consumption $47.
Highlights of the Draft:
- Building Competitiveness through fiscal and financial support for stimulating the development of the local manufacturing ecosystem with private sector investments.
- Incentivise core technology projects and exports through tax refunds and rebates.
- Adopt Public-private partnerships to reduce the cost of healthcare and drive efficiency.
- Create a single-window clearance system for licensing medical devices.
- Identify critical suppliers and promote local sourcing.
- Encourage cross-industry collaboration.
- Increase the share of medical technology companies in research and development to around 50%.
- A dedicated fund for encouraging joint research involving existing industry players, reputed academic institutions and startups.
- Incorporate a framework for a coherent pricing regulation to make available quality and effective medical devices to all citizens at affordable prices.