New Delhi [India], April 24 (ANI): To highlight the capabilities of the Indian Medical Devices sector under the G-20 Indian Presidency, the first-ever expo being spearheaded by the government in association with the Indian medical devices industry, the three-day IMTE-23 will now be held in Gandhi Nagar, alongside the G-20 Health Ministers meeting in August 2023.

The expo will showcase the capabilities of Indian medical devices Industry and to create opportunities to network and explore collaborations both for the sector's growth in India and its potential contribution globally.

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As per the Ministry of Chemicals and Fertilizers, "Department of Pharmaceuticals is planning to organize a large-scale first-time National Level Expo on Medical Devices sector for three days (18-20 August 2023), at Helipad Exhibition Centre, Gandhi Nagar, Gujarat.

The G-20 Health Ministers meeting is scheduled at Gandhi Nagar from August 17-19 2023.

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India MedTech Expo, rescheduled to be held in January 2023, received tremendous response from the MedTech Industry and the plan to host the same in August 2023 in alignment with the G-20 Health Ministers meeting, will give the much-needed boost to this Sunrise Sector, which the Department of Pharmaceuticals is supporting through various initiatives such as PLI scheme, Medical Devices Park Scheme, etc.

The medical device industry is the highest among all the sectors in the healthcare market. Presently, various categories of devices, from consumables to implantable medical devices, are being manufactured in India. With the support of the PLI scheme, high-end medical devices such as CT Scan, MRI, LINAC, etc are being manufactured domestically in the country.

"About 150+ Start-ups, more than 275 Indian and International Medical Device companies and MSME units, and about 50 Research Institutions will be participating in the Expo. About 200 foreign buyers will be hosted for B2B engagement," the Ministry said

The current market size of the medical devices sector in India is estimated to be 11 Bn USD and the industry in India is at a growth stage with a CAGR of 10-12 per cent over the last decade and has the potential to reach $ 50 bn by 2030.

Ministry further said that the proposed Expo would create visibility of the medical devices ecosystem to the world and build a brand identity for the Indian MedTech sector. (ANI)

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