Medical devices play an important role in modern healthcare by aiding in the diagnosis, treatment, and management of a wide range of medical disorders. Experts claimed that the new regulation will reduce the dependency on importing high-end medical equipment, and maximize innovation and manufacturing of domestic medical devices in India.

Recently, the Union Cabinet adopted the new Medical Device Policy, 2023, citing that it was a "need of the hour." The new policy emphasized that it will enhance the economy by developing an environment for medical device manufacture, stimulating innovation, giving assistance for training and capacity building, and encouraging domestic investments. This will help in converting India into a medical device manufacturing and innovation powerhouse.

The experts also noted that the new policy will foster the expansion of the medical device business and bring public health goals of accessibility, affordability, quality, and innovation to the forefront. They also noted that the National Medical Devices Policy 2023 will also augment the sectors existing production-linked incentive (PLI) initiatives.

Mr. Runam Mehta, CEO of Healthcube, noted that the company was thrilled to learn about the new policy. He stated that it is a laudable move towards growing the medical devices business in India, with a sustainable goal of capturing 10–12% of the expanding worldwide market during the next 25 years. He explained that the major goals of the policy cover important initiatives such as regulatory simplification, infrastructure development, research and development, innovation facilitation, investor attraction, human resource development, and brand positioning.

Additionally, Mr. Nilesh Aggarwal, CEO of IJCP Group and Founder of MedTalks, stated that implementing strict rules can provide people with more confidence about their medical devices, along with improved outcomes for healthcare practitioners. He added that the national medical devices policy is a significant development that aims to improve the healthcare sector in India, as it was designed to ensure the quality and safety of medical equipment as well as spur innovation and promote local manufacturing.

(Source:https://health.economictimes.indiatimes.com/news/medical-devices/new-medical-device-policy-will-be-a-game-changer-for-industry-experts/99887159 )