Indian medical device sector is estimated to grow to $30 billion by 2030: Anupriya Patel

The Union Minister further said that the medical device sector in India is recognized as an emerging sector as it has immense growth potential due to the country’s growing healthcare needs, technology innovation, government support and emerging market opportunities. He further said that the size of the Indian medical device sector is about $14 billion, which is expected to increase to $30 billion by 2030.

He said the medtech industry serves as a catalyst connecting patients, payers, providers and regulators to create a stronger and more equitable healthcare system. He also informed about the launch of the Government Scheme to Promote Medical Device Parks with an outlay of Rs 400 crore in which Uttar Pradesh, Tamil Nadu, Madhya Pradesh and Himachal Pradesh were provided Rs 100 crore each for infrastructure development. Is.

Apart from this, the Union Minister also talked about the efforts of the government to strengthen the medical device ecosystem, promote domestic manufacturing and research, enhance skill development and increase India’s share in the global market. Patel also highlighted AI innovation in healthcare, creating new ways to facilitate healthcare services and exploring new opportunities while addressing challenges.”