Team Blitz India
NEW DELHI: India is rapidly emerging as a global healthcare manufacturing powerhouse, specializing in high-tech medical devices at a fraction of the cost seen elsewhere, Union Minister Dr. Jitendra Singh said. He was speaking at the 8th CAHOTECH, Annual International Healthcare Technology Conference. The Minister highlighted India’s prowess as a top-five healthcare manufacturer worldwide. The key distinction lies in India’s ability to produce critical, life-saving medical devices efficiently.
Singh underscored the sector’s potential, with estimates suggesting the market size could soar to an impressive $50 billion by 2050, up from the current $11 billion (approximately ₹90,000 crore). He articulated an ambitious goal of elevating India’s market share from the existing 1.5 percent to a robust 10-12 percent over the next 25 years.
He emphasized the Government’s unwavering commitment to strengthening the indigenous manufacturing ecosystem. Initiatives like the National Medical Device Policy 2023 and the establishment of the Export Promotion Council for Medical Devices are crucial in advancing India’s global standing in medical technology.
