Why Medical Devices Firms Seek Lifelines
Investments rise but companies ask for more hand-holding and incentives to make India a manufacturing base.
medical devices
February 2024
December 2023
October 2023
June 2023
May 2023
September 2022
July 2022
April 2022
February 2022
December 2021
New drug law to be introduced in Parliament
The Bill seeks to repeal the 80-year-old Drugs and Cosmetics Act, 1940 and introduce a new law.
Panic in medical devices industry after 200 producers barred by new law
Over 500 applications for manufacturing licences of high-risk Class D and moderately high-risk Class C medicines are pending with the regulator
PLI schemes attract investments worth ₹62,500 cr till March 2023
733 applications for PLI have been approved in 14 sectors, with an expected investment of ₹3.65 lakh crore
Medical device makers seek separate law to regulate industry
Currently, medical devices are regulated by the drug authorities as the rules concerning these products are covered under the Drugs and Cosmetics Act.
New export promotion council for medical devices
Council will have special panels to promote specific categories of medical devices like disposables, consumables, orthopaedic implants, IVD equipment, and surgical instruments.
Medical devices imports from China, U.S. up 41% in FY22
India’s top 5 medical device import sources -- China, USA, Germany, Singapore and the Netherlands – together account for ₹37,519 crore, or 68%, of the total value of imports
Indian medical device industry can touch $47 billion by 2030: KPMG
The medical devices sector is 70-80% import dependent in India.
New law! All medical device sellers will need registration from Govt
The health ministry will amend the Medical Device Rules 2017 to empower the drug licensing authorities to issue such registration certificates.
NCR drug, medical device makers can use gensets freely
Activities or services categorised as emergency will be permitted to use diesel generator sets as an exception in NCR whenever orders for a ban are issued.
