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Indian MedTech industry could touch USD 50bn, says CII report

Press Trust of India  |  New Delhi 

The medical technology industry in India, the size of which is just USD 6.3 billion at present, has the potential to expand to USD 50 billion by 2025 if it receives appropriate policy support from the government, the Confederation of Indian Industry (CII) has said in a report.

The medical technology sector covers medical devices, equipments and diagnostics that are used as part of healthcare services rendered to the patient.

"To develop a clear roadmap for making a global hub for the medical technology sector, we have prepared a vision document in partnership with the Boston Consulting Group (BCG)," said Pavan Choudary, Chairman of the Medical Technology Division of and Managing Director, Vygon

The vision document, entitled 'Revitalising Manufacturing and Innovation to Realise the USD 50 billion Potential', is scheduled for release at the 7th Medical Technology Conference being organised by the Medical Technology Division in on August 20.

First Published: Sun, August 17 2014. 18:05 IST