The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has released \u201cDraft National Policy for the Medical Devices, 2022.<\/span><\/p>\n Click Here to read<\/b><\/a><\/p>\n Firstly, <\/b>nearly 80% of the medical devices currently sold in the country are imported, particularly high-end devices. This new policy aims to reduce India\u2019s import dependence to nearly 30% in the next 10 years.<\/span><\/p>\n Secondly,<\/b> India\u2019s medical devices sector has so far been regulated as per provisions under the Drugs and Cosmetics Act of 1940 and a specific policy on medical devices has been a long-standing demand from the industry.<\/span><\/p>\n Thirdly,<\/b> the policy aims to increase India\u2019s per capita spending on medical devices. India has one of the lowest per capita spend on medical devices at $3 compared to the global average of per capita consumption $47.<\/span><\/p>\n The policy will<\/p>\n \u2013 Incentivise core technology projects and exports through tax refunds and rebates.<\/span><\/p>\n \u2013 Adopt Public-private partnerships to reduce the cost of healthcare and drive efficiency.<\/span><\/p>\n \u2013 Create a single-window clearance system for licensing medical devices.<\/span><\/p>\n \u2013 Identify critical suppliers and promote local sourcing.<\/span><\/p>\n \u2013 Encourage cross-industry collaboration.<\/span><\/p>\n \u2013 Increase the share of medical technology companies in research and development to around 50%.<\/span><\/p>\n \u2013 A dedicated fund for encouraging joint research involving existing industry players, reputed academic institutions and startups.<\/span><\/p>\n \u2013 Incorporate a framework for a coherent pricing regulation to make available quality and effective medical devices to all citizens at affordable prices.<\/span><\/p>\n \u2013 NPPA (National Pharmaceutical Pricing Authority) shall be strengthened with adequate manpower of suitable expertise to provide effective price regulation, balancing patient and industry needs.<\/span><\/p>\n Source<\/b>: This post is based on the article \u201cExplained: India\u2019s draft medical devices policy, and why it is needed\u201d<\/b> published in Indian Express <\/b>on 16th Mar 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has released \u201cDraft National Policy for the Medical Devices, 2022. What is the Medical Devices Sector? Click Here to read What is the need for National Policy for the Medical Devices? Firstly, nearly 80% of the medical devices currently sold in the… Continue reading Explained: India\u2019s draft medical devices policy, and why it is needed<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,7965,9],"tags":[10500],"class_list":["post-174598","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-miscellaneous-daily-factly-articles","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=174598"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174598\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=174598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=174598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=174598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is the Medical Devices Sector?<\/b><\/h5>\n
What is the need for National Policy for the Medical Devices?<\/b><\/h5>\n
What are the salient features of the policy?<\/b><\/h5>\n