Union Minister of Health and Family Welfare and Chemicals and Fertilizers Mansukh Mandaviya on Wednesday addressed the curtain raiser of India’s first medical technology expo titled ‘India MedTech Expo 2023’, scheduled to be held in Gujarat’s Gandhinagar from August 17-19, said an official statement.

“India is set to become the global hub of medical technology and devices with the market size estimated to reach US$ 50 billion by 2050,” stated Mansukh Mandaviya here today during his address at the Curtain Raiser of India’s first medical technology expo, ‘India MedTech Expo 2023’, scheduled to be held in Gujarat’s Gandhinagar from August 17 -19, 2023 on the sidelines of the G20 Health Ministers’ Meeting, said the statement.

He was also joined by Union Minister of State for Chemicals and Fertilizers Bhagwant Khuba.

Dr Mandaviya said that “the medical device sector is considered as one of the sunrise sectors in the country and the Government under the Prime Minister is taking every possible step to make India a manufacturing hub for medical devices,” said the statement.

“From a market share of 1.5 per cent, we hope to increase India’s market share to 10-12 per cent share over the next 25 years,” he added.

He further stated that, “with effective implementation of the recently unveiled National Medical Devices Policy 2023, we are confident of fostering the Medical Devices Sector growth from present $11 Bn to $50 Bn by 2030,” said the statement.

The Union Minister said that “earlier, we looked at different segments of the health sector including Pharmaceuticals, Medical Devices in silos. Under the Modi Government, India is taking a holistic approach to health with a vision to transform the health landscape in the country by 2047”, it added.

He stated that “several new initiatives taken by the government such as the PLI scheme has led to 43 critical APIs being produced within the country which were earlier imported from abroad. The govt is also creating bulk drug parks and medical devices parks in the country to make India self-reliant in this sector.”

Dr Mandaviya stated that the upcoming MedTech Expo 2023 will showcase India’s innovations and achievements in medical and surgical procedures, drugs, equipment and facilities.
He highlighted that the event will enhance visibility of medical devices ecosystem in India and create a brand identity for Indian MedTech sector, added the statement.

As per the official statement, Bhagwant Khuba said that the government under the leadership of Prime Minister is committed to make the country atmanirbhar in the health sector. He urged all stakeholders including industries and media personnel to visit the expo and witness the transformative work being done in this segment.

(SOURCE: ANI)