GLOBAL PR CONNECT (GPRC)New Delhi [India], June 20: MedTech Policy Mahotsava Conclave 2023, organized by Medgate Today, witnessed a exceptional turnout of trade stakeholders, policymakers, consultants, leaders, regulators, and producers. The day-long conclave, held on Saturday, served as a platform for intensive discussions on numerous elements and dimensions of the MedTech sector. MedTech Policy Conclave, organized after the introduction of National Medical Devices Policy 2023, will get a strong response from all stakeholders and through 4 Sessions the trade chalk out a roadmap for the longer term.
With a give attention to coverage reforms, symbiotic relationships with the federal government, collaborations, dedication, automation, re-inventing GeM, and innovation, the occasion aimed to realize the goal of a USD 50 billion MedTech financial system by 2030. Supported by esteemed organizations together with the Global MedTech Advocacy and Advisory Forum (GMAAF), AiMED, Invest India, iGHM, AMG, AHPI, Prius Communications, and admi, the conclave’s 4 periods diligently labored in the direction of outlining a roadmap for the longer term.
Welcoming the delegates, Afzal Kamal, Editor-in-Chief of Medgate Today, highlighted the importance of the MedTech Policy Mahotasav as part of trade endeavors to contribute to the “Make in India” coverage for an Atmanirbhar Indian MedTech. “The conclave aimed to boost research and development infrastructure, gearing up for an aspirational $50 billion MedTech economy. The four sessions of the conclave aimed to deliberate on critical issues in the MedTech segment,” added Afzal Kamal who additionally emphasised that after the implementation of the National MedTech Policy by the federal government, the Conclave supplied a chance to evaluate its strengths and the way in which ahead.
While detailing the theme of the Conclave Gaurav Agarwal, Chairman of GMAAF and Conference Chairman additionally shared his views on coverage fronts and highlighted the important thing points pertaining to the sector. “Indian medical industry is at the cusp of an inflection point. The pandemic proved the immense resilience of the sector and building on that success, $50 billion in 2030 is a distinct possibility. We need to ensure that the industry adheres to the highest standards of voluntary quality management systems, thinks GLOCAL, and gets a high share of Capital Medical equipment globally. This is the Golden Decade of MedTech in India boosted by a favorable policy environment, ” acknowledged Gaurav Agarwal.
During the inaugural session, in her handle, Dr Minnie Bodhanwala, Co-Chair and President-Medical Value Tourism of GMAAF and CEO of Wadia Hospital, Mumbai, emphasised the progress made in MedTech and the necessity for modern coverage interventions and help to remodel India from an import-dependent to an export-confident Indian MedTech nation.
Rajiv Nath, Forum Coordinator, AiMeD on the Key Note Inaugural Address acknowledged “India’s Imports which had shot up by a steep 41 per cent to Rs 63,000 crore in 2021-2022 have been stalled and now hovering at Rs 61,000 crore. We hope now onwards with the support of the Medical Devices Policy and Actions, this graph will be reversed from 80 per cent import dependence to a reduced 20-30 per cent import dependence in the next 5 years. We are not against imports as long as they do not undermine Indian manufacturing and provide a basis for healthy value-based competition.”The inaugural session was adopted by a Panel Discussion on RD, InnovationInfrastructure. Chaired by Dr. Jitendra Sharma, CEO and MD, Andhra Pradesh Med Tech Zone and Moderated by Dr. Ravi Rathod, the session witnessed intense data sharing on essentially the most important problems with the sector. Dr Ravi Kant Sharma, Deputy Drugs Controller at CDSCO (Central Drugs Standard Control Organization) highlighted the problems pertaining to the security, high quality, and efficacy of medicine and units in India, contributing to the general public well being and well-being. Underpinning the ache level Dr Ravi Kant mentioned “While Pharma exports to more than 100 countries are remarkable but we have not been able to replicate the same feat in MedTech because of a lack of regulatory clarity.” The session additionally witnessed helpful recommendations coming from Dr Atul Nasa, Pro Vice Chancellor, SGT University.
Moderating a session on Financing and Investment Opportunities for MSMEs within the Medical Device Industry Dr Rajiv Chhibber, Vice President Sahajanand Medical Technologies mentioned, “MedTech Policy Mahotsav by GMAAF and Medgate Today is the first-of-it-kind kind event post the release of the Medical Devices Policy 2023. Post deliberations, the domestic industry is optimistic that together in a PPP mode, we would be able to create an ecosystem for the holistic growth of the overall healthcare industry in India, make India self-sufficient, reduce import dependency to a large extent, expand both markets and exports, where one can hope to see exponential growth in the coming years to achieve the vision 2047, achieving the vision of making quality healthcare accessible to all.” During this session, trade consultants together with Ms. Sonia Gandhi, Chief of Investments (Life Sciences) at BIRAC, Akriti Bajaj, Vice President of Invest India, and different eminent figures brainstormed on finance and investment-related points.
The panel dialogue on the National Medical Devices Policy make clear the progressive steps taken to advertise the medical system trade. Speakers through the dialogue included Dr. N Yuvaraj, Joint Secretary, Department of Pharmaceuticals, Gaurav Agrawal, MD, Innovations Imaging Technologies, Shankar Vardharajan, Director, Times Medical Systems, Atantra Das Gupta, Head of Samsung HME, Dr. Amit Asthana, Associate Professor and Head, Dept. of Medical Devices NIPER Hyderabad, and Pawan Chaudhary, MD, Vygon and Chairman, MTAI.
Addressing the session on Navigating Challenges and Opportunities in Public Procurement of Medical Devices underneath the Make in India imaginative and prescient, Anjan Bose, Founder Secretary General of NATHEALTH, emphasised the necessity for a symbiotic relationship between the trade and the federal government. He gave the mantra C Square I -Collaborations, Commitment, and Innovations (CCI). The session was moderated by Ms. Jyoti Singh, a Public Procurement Expert at GeM. Participants similar to Jatin Mahajan, MD of J MitraCompany; Manish Sardana, President of Poly Medicure; Sunil Khetarpal, President of AHPI; Aditya Kohli, Joint MD of Allied Medical; and Pankaj Narula, MD of Srishty Medical emphasised the expansion potential and the relevance of GeM for the trade. Pradeep Narkhede, MD of Shalya Xcellance Medical Technologies, addressed irregularities and violations of tendering norms on the GeM portal, calling for transparency and accountability. However, Manish Sardana mentioned, “GeM is constantly evolving and adopting advanced technologies. It has immense potential. A concerted effort is required from allgovernment buyers, sellers, and the various partners in the GeM ecosystem to make it a success and to allow it to unlock its full potential.”According to the trade leaders, the Make in India initiative and goal of 25% of the GDP share of the manufacturing sector can solely be achieved with such unified public procurement regulation, which can make sure the well timed closure of tenders, procurement, and likewise prices.
“The government should form a unified public procurement regulatory authority that not only enables unified fair competitive procurement policy and enables pre-bid and post-bid technical, contractual and commercial negotiations involved all stark holders including vendors, avoiding unnecessary delays, aggressive and irrelevant specifications, vendor qualification and commercial terms; and unviable contractual terms but also acts as a watchdog for the same,” recommended Pankaj Narula.
During the Panel Discussion on grownup vaccinations, Dr. Arun Agrawal, Clinical Advisor at Apollo Hospitals Group; Dr MS Kanwar, Senior Consultant at Apollo Hospitals; Dr Chanchal Pal, Past President of IMA; Dr Kalpana Nagpal and Dr. Pakhee Aggarwal, Senior Consultants at Apollo Hospitals made a passionate attraction for vaccination towards severe illnesses like Hepatitis B, displaying placards to lift consciousness.
Baldev Raj, Founder and MD of Prius Communication, the official Communication Partner of the Medtech Policy Mahotsava, mentioned, “In the healthcare sector, the MedTech segment constitutes nearly 40 per cent and plays a very critical role. The sector has huge potential for growth with the rising demand. As we are already providing consultancy to several MNCs for branding, advocacy, and Make in India, it is also an opportunity for domestic players to go for cohesive collaborations. All stakeholders need to join hands to tap this huge opportunity.”Other consultants who shared their views embody Dr. Rajeev Gautam, President-India Business at Horiba India Ltd.; Dr. Sachin Agrawal, Head of Artificial Intelligence at Sony Research India Private Limited; Aditya Kohli, Joint Managing Director of Allied Medical; and Chitiz Kumar, Vice President at Philips India Limited.
Industry leaders suggest that the federal government implement robust insurance policies to spice up using superior manufacturing applied sciences and automation within the medical system trade. This will enhance productiveness, high quality, and competitiveness, aligning with the federal government’s Make in India imaginative and prescient to stimulate the financial system and generate employment alternatives.
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