India News | Government invites suggestions and comments on proposed policy for medical device sector

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New Delhi, Mar 12 (PTI) The government has been soliciting comments and suggestions from industry and other stakeholders till March 25 regarding the upcoming national policy for the medical device sector, an official statement said on Saturday. .

The Department of Pharmaceuticals (DoP) has posted on its website a Guidance Document for the Draft National Medical Device Policy, 2022, inviting comments and feedback from industry and stakeholders, until March 25, 2022, the Ministry of Chemicals and Fertilizers said in a statement.

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In line with the mandate to promote aspects of the medical device industry, the DoP, recognizing the need for a holistic policy to accelerate growth and explore the potential of the medical device industry, has issued this approach paper, after extensive consultations with stakeholders, he added.

“The proposed policy strives to put in place a comprehensive set of measures to ensure sustained growth and development of the sector and address other challenges in the sector such as streamlining of regulations, qualification of human resources and lack of technology for high-end equipment and the lack of appropriate infrastructure, thanks to a coherent policy framework,” the ministry said.

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The draft national policy further aims to facilitate orderly growth of the sector for years to come, he added.

The policy predicts that by 2047, India will have few National Institutes for Medical Device Education and Research (NIMERs) modeled after NIPERs; will be the home and originator of 25 high-end futuristic technologies in MedTech; a $100-300 billion industry with 10-12% global market share.

The industry is expected to grow in market size from current USD 11 billion to USD 50 billion by 2025.

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)

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