India’s first dedicated Medical Device Park
09-Nov-15, ET Healthworld
Chief Minister of Andhra Pradesh, Chandrababu Naidu has taken in-principle decision to develop a dedicated 200 acre industrial park for the manufacture of medical devices in his state.
%20ET%20Healthworld.jpg "Indias first dedicated Medical Device Park to come up in Andhra Pradesh (c) ET Healthworld")
Image: ET Healthworld
The Association of Indian Medical Device Manufacturers (AIMED) was able to impress upon Mr Naidu and the Central government representatives as to why it made sense to have such a facility.
The Indian medical device industry is worth over INR60,000 crore. And the import bill for this segment amounts to over INR23,000 crore (approximately USD4 bn) while export amounts to only INR7000 crore (USD1.1 bn). India's import dependency on high-end medical devices is over 80%, and 60-70% for other devices. And this is where the dedicated medical device park would be of great value in reducing import dependency.