India proposes a new policy for medical devices
The Indian Government proposes a new Draft National Policy for Medical Devices, 2022, to reduce India’s reliance on high-end medical device imports. The government intends to adopt public-private partnerships to reduce healthcare costs, increase efficiency, and improve the quality of medical devices manufactured in the country.
Among the key proposals are:
- The use of tax breaks and refunds to encourage the export of medical devices and related technology projects.
- Increasing government spending on “high-risk” medical device projects
- A single-window clearance system to be used for the licensing of medical devices.
- Pricing environment with no price control on newly developed sector innovation
- A dedicated fund to be established for encouraging collaborative research among existing industry players, reputable academic institutions, and start-ups.
- Incorporate a framework for consistent pricing regulation to make high-quality, cost-effective medical devices available to all citizens at reasonable prices.
- The National Pharmaceutical Pricing Authority (NPPA) will be strengthened with adequate manpower and appropriate expertise to provide effective price regulation while balancing the needs of patients and industries.
