'PM Modi taking every possible step to make India hub for medical devices'

New Delhi, Aug 11 (IANS) Union Minister for Health and Family Welfare Mansukh Mandaviya on Thursday said Prime Minister Narendra Modi is taking every possible step to make India a manufacturing hub for medical devices. 

The Minister said this during his address at the curtain raiser of India's first medical technology expo, 'India MedTech Expo 2023', scheduled to be held in Gujarat's Gandhinagar, from August 17 to 19 on the sidelines of the G20 Health Ministers' meeting. 

Mandaviya said under the Modi government, India is taking a holistic approach to health with a vision to transform the health landscape in the country by 2047. 

The medical device sector is considered as one of the sunrise sectors in the country, he said. 

"From a market share of 1.5 per cent, we hope to increase India's market share to 10-12 per cent share over the next 25 years. With effective implementation of the recently unveiled National Medical Devices Policy 2023, we are confident of fostering the medical devices sector growth from present $11 billion to $50 billion by 2030," Mandaviya said. 

India is set to become the global hub of medical technology and devices with the market size estimated to reach $50 billion by 2050, he added. 

On the upcoming MedTech Expo 2023, Mandaviya said it will showcase India's innovations and achievements in medical and surgical procedures, drugs, equipment and facilities. 

He highlighted that the event will enhance visibility of medical devices ecosystem in India and create a brand identity for Indian MedTech sector.