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BW Businessworld

The Medical Electronics & Devices Different From Drugs

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The Ministry of Health & Family Welfare announced a new bill to be presented in Parliament on 20 June' 2013, that differentiates the medical electronics & devices as separate entities from drugs.
  
"In the healthcare sector the well-being of people was of utmost importance. The high cost of healthcare was one of the most significant challenges that the sector today faces," says TKA Nair, Adviser, Prime Minister's Secretariat.
   
"For the first time in the 12th Plan, the Government of India has allocated Rs. 1800 crore to extend financial support to states and UTs to strengthen the regulatory system of medical electronics and devices in the country. The major part of this grant will be spent on procuring technically qualified manpower and establishing more laboratories, training academies, diagnostic labs, and capacity building," says Dr. A K Panda, Joint Secretary, Ministry of Health & Family Welfare.
 
He further adds that "an institutional mechanism should be set up where on a regular basis the relevant stakeholders from the sector could come together and deliberate on the latest developments in the medical devices field and also discuss the challenges and issues that arise with the fast changing technology."
 
India's medical devices market is of almost $3 billion and is growing at a rate of 15%.