Page 2 - Medical Devices Industry

India set to emerge global production hub for medical devices: Mandaviya

"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

Banning imports of used equipment to help medical industry reach $50 bn

Steps such as raising customs duty on certain items, banning import of used or old equipment, and introduction of performance linked incentive scheme for value-added production will help India's medical devices industry touch USD 50 billion by 2030, a report by think tank GTRI said. Suggesting six action points for the government and industry for accelerating growth of the sector, the Global Trade Research Initiative (GTRI) also asked the government to not allow input tax credit (ITC) for the IGST paid on import of items where basic customs duty is zero; combatting foreign influence; and encourage local sourcing for essential Make in India products. "The Indian medical devices industry can expand from USD 12 billion to USD 50 billion by 2030, reducing import reliance to 35 per cent and boosting exports to USD 18 billion from USD 3.4 billion at present. The industry's growth potential could surpass that of the smartphone sector due to India's expanding health sector, projected to reac

Omron to establish first Indian medical devices factory in Tamil Nadu

Omron will make devices including blood pressure monitors and will invest nearly 1.3 billion Indian rupees (about $15.7 million) to set up the plant, the sources said, declining to be identified ahead

Uttar Pradesh govt looking to tap domestic medical devices' market

Chief Minister Yogi Adityanath has reiterated his resolve to make the state a leading medical and pharmaceutical hub in the country

Medical devices policy will make India healthcare resource centre: Industry

The National Medical Devices Policy, 2023 will pave the way for India to become an 'end-to-end' healthcare resource centre not only for the country, but also for the global needs, industry bodies opined on Thursday. The government on Wednesday approved the new policy with an aim to promote domestic manufacturing and help the sunrise sector grow from the present USD 11 billion to USD 50 billion in the next five years and reduce import dependence. The policy focuses on six strategies to tap the potential of the sector with the 'implementation of action plan'. Ajay Singh, President of Assocham, said regulatory measures like single window for different types of licences, coherent pricing norms and infrastructure for manufacturing and technology advancement, are among the defining features of the new policy, as approved by the Union Cabinet. "While India has established itself as a 'pharmacy of the world', integrated healthcare would require equal emphasis on medical devices. "The new

Drug, medical services firm PharmEasy may lay off hundreds of employees

The company has a total workforce of about 1500

Parliamentary panel recommends setting up regulators for medical devices

The Parliamentary Standing Committee on Health and Family Welfare has recommended setting up of a new set of regulators at different levels for regulating the medical Devices industry

Registration by medical device resellers made a must, may impact mask sales

Apart from masks, even condoms sold at groceries may be brought within the ambit of the rule; industry feels govt may come out with an exemption list for common items

India's rising medical devices imports hurt small and medium units

China accounts for about one-fifth of FY22 numbers; 41% surge overall

Nearly 33% of India's medical devices capacity lying unused: Industry

Industry faces stiff competition from China as imports from country rise 75% in FY21

India seeks investments from US companies in pharma, medical devices sector

India has reached out to top American pharma companies seeking investment in the country's pharmaceutical and medical devices sector

Poly Medicure hits fresh high; stock zooms 53% over QIP price

Ace investor Ashish Kacholia held 1.75 million equity shares, or a 1.83 per cent stake, in Poly Medicure as of February 19, 2021

Centre looks to nudge more MSMEs into manufacturing to reduce imports

Sources across ministries confirmed that Narendra Modi's call to "go vocal for local" will be achieved through a host of measures, running into the dozens, and will focus on long-term goals.

India to airlift 220 tonnes of medical cargo from China over 3 days: Puri

India has been under a lockdown since March 25 to curb the spread of the novel coronavirus

Health Ministry urges rational use of PPEs, says India has sufficient stock

Joint Secretary of Health Ministry also said that the Centre is augmenting the supply of PPE to states and that the states should use such gears rationally

Budding medical devices firms innovate to tackle coronavirus pandemic

All these will be available on Healthcare Innovation for Indian Healthcare (Hiiih), a medical entrepreneurship and innovation-enabling platform.

Medical devices to be treated as drugs from the next financial year

To be regulated under the Drugs and Cosmetics Act, says a notification by govt

New ultrasound scan uses laser instead of acoustics to image human body

"We're at the beginning of what we could do with laser ultrasound," said Brian W. Anthony, a senior author on the paper from MIT

Govt plans to set up hubs for manufacturing medical devices, bulk drugs

Eight proposed parks aim to reduce import dependence, boost local manufacturing

Regulation of medical devices set for overhaul to improve quality, safety

Health ministry has issued a draft notification to define all medical devices under Drugs and Cosmetics Act