Indian medical devices to be showcased at IMTE-23 in August
The Indian medical devices sector has the potential to reach a volume of US$50 billion by 2030 from the current US$11 billion, Ministry of Chemicals and Fertilizers said on 24 Apr 2023.
The sector had recorded a CAGR of 10%-12% over the last decade, it said, announcing the Indian MedTech Expo 2023 (IMTE-23) to be held 18-20 August in Gandhi Nagar.
The proposed Expo, to be held alongside the G-20 Health Ministers meeting, will create visibility of medical devices ecosystem to the world and build a brand identity for the Indian MedTech sector,” the Ministry said.
About 150+ Start-ups, more than 275 Indian and International Medical Device companies and MSME units, some 50 Research Institutions will be participating in the Expo. Nearly 200 foreign buyers will be hosted for B2B engagement.
The objective is to showcase capabilities of Indian Medical Devices Industry and to create opportunities to network and explore collaborations both for the sector’s growth in India and its potential contribution globally.
The Department of Pharmaceuticals has listed initiatives such as PLI scheme, Medical Devices Park Scheme for the Medical Device industry which is manufacturing devices such as CT Scan, MRI and LINAC. fiinews.com
