Ujjain Medical Devices Park Has Received Investment Proposals
Ujjain Medical Devices Park has attracted investment proposals exceeding Rs 1,400 crore from 28 different medical equipment and consumables manufacturers. The Madhya Pradesh Industrial Development Corporation (MPIDC) has allocated land to these industries, with notable newcomers including Samson Scientifics and Surgicals, Omexa Formulary Pvt Ltd, US Herbals, Bhandari Labs Pvt Ltd, SPM Medicare Pvt Ltd, Yuvitel Technologies Pvt Ltd, and Bionic Meditech.
As of March, 28 units have committed to investing in the park, projecting the creation of approximately 4,500 jobs. Additional proposals are in the pipeline, expected to be finalized in the first quarter of the fiscal year. Micro, Small, and Medium Enterprises (MSMEs) anticipate increased job opportunities from collaborations with anchor units in the medical devices sector.
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Industry insiders highlight the significance of this development, citing that over 80% of critical care medical devices are presently imported, leading to inflated prices. Establishing a cluster of medical device manufacturers in the region is poised to enhance domestic availability and affordability.
Although Indore boasts over 100 pharmaceutical industries, its medical device manufacturing sector remains relatively small. However, with this recent surge in investment and development, the landscape is set to change.
According to the Medical Technology Association of India (MTaI), the country’s medical technology industry is valued at approximately $11 billion. With a growth rate of 13-15%, particularly in demand for devices utilized in cardiovascular, respiratory, and cancer treatments, the sector is poised for further expansion.
Reference from TOI
