National Medical Devices Policy 2023 – The Union government approved the National Medical Devices Policy, 2023. The policy aims to help the Medical Devices Sector, grow from the present 11 billion US dollars to 50 billion US dollars in the next five years.
- The market size of the medical devices sector in India has been estimated to be nearly 90,000 crore rupees in 2020 and its share in the global medical device market is estimated to be 1.5%.
- National Medical Devices Policy will help in facilitating orderly growth of the medical device sector to meet the public health objectives of access, affordability, quality, and innovation.
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