New Government Schemes to Bolster the Medical Devices Sector
Government Initiatives in Medical Devices
The government has introduced new schemes aimed at strengthening the medical device market with an initial outlay of ₹500 crore for the years 2024-2025 to 2026-27. This initiative comprises five sub-schemes including common facilities for medical devices clusters with an outlay of ₹100 crore, marginal investment to reduce import dependence (₹180 crore), and capacity building for the medical devices sector. Additional resources will support skill development and promotion of medical devices, crucial for advancing diagnostics like coronary stents and radio imaging.
Key Components of the Schemes
- Common Facilities for Medical Devices Clusters: ₹100 crore allocation
- Marginal Investment for Reducing Import Dependence: ₹180 crore
- Capacity Building and Skill Development: ₹100 crore
- Medical Device Promotion: ₹10 crore
Health Minister J.P. Nadda states, “The government is committed to strengthening the medical devices industry through focused interventions that yield substantial and transformational outcomes.” This comprehensive approach aims to enhance the manufacturing of key components and accessories, and facilitate clinical studies. Ultimately, this is envisioned as a game changer in boosting local production and innovation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.