Scheme for Medical Device Industry

In November 2024, Scheme for Strengthening the Medical Device Industry launched by the Ministry of Chemicals and Fertilizers.

Overview of the Scheme

The Scheme for Strengthening the Medical Device Industry aims to address critical areas within the medical device sector and foster the growth of a robust domestic industry. India’s medical device market is currently valued at approximately $14 billion and is expected to grow to $30 billion by 2030.

Features of the Scheme

The scheme consists of five key sub-schemes, each addressing a specific challenge or need in the industry:

Sub-Scheme	Objective
Common Facilities for Medical Devices Clusters	Enhance infrastructure by creating shared facilities, including R&D labs, design and testing centers, and animal labs.
Marginal Investment Scheme for Reducing Import Dependence	Promote localized production of key components, raw materials, and reduce reliance on imports.
Capacity Building and Skill Development for Medical Devices	Provide financial support to run courses for developing a skilled workforce in the medical device sector.
Medical Device Clinical Studies Support Scheme	Provide financial aid for conducting animal studies, human trials, and clinical performance evaluations.
Medical Device Promotion Scheme	Support industry associations and export councils for organizing conferences, conducting studies, and surveys.

Challenges Faced by the Medical Device Industry

The medical device industry in India faces several challenges, which this scheme aims to address:

1. Lack of Infrastructure: Insufficient R&D labs, design and testing centers, and other necessary infrastructure.
2. High Import Dependence: A heavy reliance on imported high-end medical devices and components.
3. Low Capital Investment: Limited investment in the sector, hindering its growth.
4. Inverted Duty Structure: The inverted duty structure impacts the cost of raw materials and components, making domestic manufacturing uncompetitive.

Conclusion

The Scheme for Strengthening the Medical Device Industry aims to overcome the existing challenges in the medical device sector by promoting local manufacturing, enhancing infrastructure, and building a skilled workforce. By doing so, it seeks to help India become self-reliant in the sector and meet the growing demand in both domestic and international markets.

 

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