India Urged to Develop Export-Focused Medical Devices Industry
Pharma Secretary Manoj Joshi calls for India to expand its medical devices sector beyond import substitution, emphasizing global market integration.
India needs to transition from an import-reliant medical devices market to an export-driven industry capable of competing globally, according to Manoj Joshi, Secretary of the Department of Pharmaceuticals. Speaking at the 'India Medical Device 2026' event organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, Joshi highlighted the sector's potential for significant growth.
Global Market Opportunities
The Indian medical devices market is currently valued at approximately USD 16 billion, while the global market is worth over USD 600 billion. Joshi emphasized the vast opportunities available for Indian manufacturers to tap into this expansive market. He underscored the importance of not limiting the sector to merely substituting imports but rather building a robust export-oriented framework.
To achieve this, Joshi proposed strengthening domestic component manufacturing and enhancing value addition. He also stressed the need for seamless cross-border movement of components and products, integration into global value chains, and fostering partnerships between startups and established industries to facilitate market-ready innovations.
Domestic Manufacturing: A Strategic Imperative
Joshi noted that while healthcare providers prioritize access to quality devices, regardless of their origin, domestic manufacturing remains crucial. It is vital for creating jobs, bolstering industry capabilities, and ensuring supply chain resilience, especially during global disruptions.
Rajeev Singh Raghuvanshi, the Drugs Controller General of India, also addressed the event, stating that the Indian medical devices sector is undergoing a significant transformation. The focus is shifting from an import-driven market to a domestic manufacturing-led ecosystem. He highlighted the need to enhance indigenous capabilities in high-end medical devices and in vitro diagnostics, while ensuring faster, transparent, and predictable regulatory approvals.
Government Support and Industry Collaboration
Joshi's remarks come as the government continues to push for economic reforms and initiatives aimed at boosting the domestic manufacturing sector. The call for an export-oriented medical devices industry aligns with broader national goals of self-reliance and global competitiveness.
The FICCI event served as a platform for industry leaders and policymakers to discuss challenges and opportunities within the medical devices sector. The consensus among participants was clear: India's medical devices industry must evolve to meet both domestic healthcare needs and international market demands.
As India aims to position itself as a key player in the global medical devices market, the collaboration between the government and private sector will be critical. The focus will be on creating an ecosystem that supports innovation, quality manufacturing, and effective regulation.