Evolution of Local Manufacturing in India's Medtech Sector

This interview article discusses the evolving landscape of local manufacturing in India's medtech sector. It highlights the growth of India's medtech market, which is experiencing a 15 percent compound annual growth rate (CAGR). The text outlines the shift in disease burden from communicable to non-communicable diseases, necessitating advancements in preventive healthcare and precision diagnostic tools. The article details the government's initiatives, such as the Production Linked Incentive scheme and the National Medical Devices Policy 2023, aimed at promoting domestic production and innovation in medical devices. It also addresses the challenges faced by global medtech companies in navigating the regulatory environment and the importance of collaboration among stakeholders. The discussion includes the need for policies that encourage local purchases and enhance healthcare infrastructure, emphasizing the role of GE HealthCare in contributing to India's vision of becoming a global hub for medical device manufacturing. The article concludes with a focus on the importance of affordability and accessibility in healthcare solutions.