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News » India News » Govt Backs MedTech as a Strategic Sector, Aims for $30 Billion Market by 2030

India News

Govt Backs MedTech as a Strategic Sector, Aims for $30 Billion Market by 2030

NM Desk
Last updated: 31 January, 2025 2:41 PM
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Govt Backs MedTech as a Strategic Sector, Aims for $30 Billion Market by 2030
Govt Backs MedTech as a Strategic Sector, Aims for $30 Billion Market by 2030

New Delhi: MedTekon 2025, the flagship event of the Medical Technology Association of India (MTaI), convened policymakers, global dignitaries, investors, and healthcare leaders at Taj Palace. Focused on Investments, Reforms, and Synergies, the event set the agenda for policy acceleration, investment growth, and technological advancements in India’s MedTech sector.

The event was graced by Chief Guest Hon’ble Minister Smt. Anupriya Patel, Union Minister of State for Health & Family Welfare and Chemicals & Fertilizers, and Guest of Honour Dr. V. K. Paul, Member, NITI Aayog, who underscored the critical role of medical technology in shaping India’s healthcare future.

While addressing the gathering, Hon’ble Minister Smt. Anupriya Patel, Union Minister of State for Health & Family Welfare and Chemicals & Fertilizers said, “It is an honour to inaugurate MedTekon 2025, a key platform uniting industry leaders, policymakers, and healthcare stakeholders to shape the future of India’s MedTech sector.

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With the industry poised to double its market size to $30 billion by 2030 and expand its global share from 1.65% to 10-12%, India is rapidly emerging as a MedTech powerhouse.

Our exports reached $3.8 billion last year, reflecting the sector’s growing manufacturing strength and global competitiveness. As we drive this momentum forward, collaborative efforts in innovation, investment, and policy reforms will be crucial to positioning India as a leader in affordable, high-quality medical technology.”

In his remarks during the session on Catalysing Foreign & Domestic Investments in MedTech, Dr. V. K. Paul, Member, Niti Aayog said, “MedTekon 2025 serves as apt platform to expand India’s global footprint, foster innovation, and strengthen domestic manufacturing. With rising demand for medical devices, India must position itself as a global MedTech leader.

“India’s 4,000+ health-tech startups need greater investment, regulatory support, and structured incubation to scale globally. Additionally, harmonizing regulatory standards with global benchmarks is vital for investor confidence and sector growth. By focusing on innovation, investment, and policy stability, we can cement India’s role as a leader in affordable, high-quality medical technology,” he said.

Mr. Pavan Choudary, Chairman, MTaI, emphasized the need for investment-friendly policies, regulatory coherence, and a robust MedTech infrastructure to support India’s growing healthcare needs and said, “At MTaI, we believe that sharp advocacy stems from thoughtful deliberation, and MedTekon 2025 embodies this commitment.”

In response to a question if technology is responsible for de-humanization and a lot of stress, Mr. Choudary disagreed and highlighted, “The rise of communities like Hikikomori (term used in Japan) for those who prefer technology-driven interactions over human engagement as human interactions can lead to some level of stress and distress. Machines don’t judge and don’t tire and therefore are preferred by the many millions of hikikomories in the world today, whose number is soaring.”

The event featured a distinguished lineup of Indian and global MedTech leaders. Key speakers included, Mr. Aseem Sahu (Deputy Drugs Controller, CDSCO), Mr Ajit Chavan (Additional CEO, GeM), Ms Ritu Sain (Investment Commissioner, Government of Chhattisgarh), Mr Hitendra Sahu (Director, Department of Pharmaceuticals), Mr Chinmai Dwivedi (MHD Head BIS), Padmashree Dr. Kameshwar Prasad (AIIMS & Fortis Healthcare), Dr. O.P. Yadava (CEO, National Heart Institute), Dr. Pavan Gurha (Head of Department, Anaesthesiology, Batra Hospital), Mr. Sanjay Bhutani (MD, Bausch & Lomb India & SAARC), Mr. Aman Rishi (VP & GM, Stryker India), Mr. Atul Grover (Managing Director, India & South Asia, Becton Dickinson), Mr. Parmeshwaran Nair (Country Leader, SEA Region & India, Edwards Lifesciences) and other captains of the industry.

Foreign dignitaries included Dr. Stephan Hesselmann (Minister Counsellor, German Embassy), Estelle David (Trade & Investment Commissioner, France Embassy), Nico Schiettekatte (Counsellor for Health & Welfare, Embassy of the Netherlands), and Anna Shotbolt (Deputy Trade Commissioner, South Asia, British High Commission).

A major focus area was catalysing foreign and domestic investments, where stakeholders explored India’s potential as a global MedTech manufacturing and R&D hub. In the discussion on hospital technology integration, experts delved into the impact of AI, robotics, and digital health solutions on improving patient outcomes.

Another key session on reimbursement policies examined the case to design health insurance for emerging needs.

The regulatory panel addressed harmonizing standards, reducing non-tariff barriers, and other aspects regarding regulatory and ease of doing business. The final session highlighted ethical marketing practices in MedTech and the need for skill development programs to create a future-ready workforce capable of leveraging next-generation medical innovations.

MedTekon 2025 reinforced India’s position as a key player in global healthcare innovation. With its focus on investment-led growth, regulatory advancements, and technological breakthroughs, the event set an agenda and decisive path for the future of MedTech in India.

About Medical Technology Association of India (MTaI): Medical Technology Association of India (MTaI) is a leading association in the MedTech space in India and comprises of a wide spectrum of research-based medical technology companies with global experience in innovation and manufacturing.

MTaI’s main aim is to improve access to quality healthcare for the patient and maintain viability for the industry. By doing so, it aspires to find a space for the MedTech companies commensurate to their contribution to Healthcare in India.

MTaI is recognised as a veritable think tank in the Healthcare space and collaborates with the government, healthcare professionals and other stakeholders to bring cutting edge research and recommendations to the fore. To know more, visit: www.mtaiindia.org

For further info, please contact:
Sonali Chowdhury, 9871583210
Unnati Bhardwaj, 8929455155

(Note: This is a press release)

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