New Scheme for Domestic Medical Device Industry
A new scheme aimed at strengthening the domestic medical device industry will be rolled out within the next month, Department of Pharmaceuticals Secretary Arunish Chawla announced on Wednesday. The scheme, formulated after extensive consultations with the medical device industry, was discussed during an event here.
“This scheme will be launched in the next one month. It was part of the stakeholder consultation process to ensure that different components of the scheme are firmed up and aligned with the industry’s needs,” Chawla stated. He further added, “We have already received in-principle approval from the Finance Ministry for launching the new scheme.”
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While participating in the second Meditech Stackathon, the secretary explained that the scheme aims to reduce dependence on imported medical devices. “The scheme is being introduced to make the domestic industry self-reliant in the long run,” Chawla noted. He also highlighted that the Production Linked Incentive (PLI) scheme for medical devices has shown promising results, with 20 major greenfield projects already operational.
Significant advancements have been made, with high-tech medical devices such as computed tomography (CT) scans, MRI, ultrasound, and dialysis machines now being manufactured domestically. In April of last year, the Union Cabinet approved the National Medical Devices Policy, designed to boost domestic production and decrease reliance on imported equipment. The policy is expected to help the medical devices sector grow to $50 billion over the next five years.
Role of Operon Strategist in Strengthening the Medical Device Industry
As the government rolls out new initiatives to fortify the domestic medical device industry, the role of expert consulting firms like Operon Strategist becomes increasingly vital. Operon Strategist, a leading medical device regulatory consulting company, is crucial in guiding manufacturers through the manufacturing plant layout design, complex landscape of regulatory compliance, quality management systems, and market entry strategies. By offering end-to-end consulting services, from turnkey plant setup to regulatory approvals, Operon Strategist ensures that domestic manufacturers are well-prepared to meet both national and international standards. Their expertise helps companies capitalize on the new scheme and contributes to the broader goal of making the Indian medical device industry self-reliant and globally competitive.
