Government eMarketplace (GeM), the public procurement marketplace under the Commerce Ministry, has signed a memorandum of understanding with the medical device manufacturers’ body Association of Indian Manufacturers of Medical Devices (AiMeD) for its members to sell directly to the government via the GeM portal.
“This collaborative partnership has been forged to facilitate seamless integration of more than 300 manufacturers of medical devices within the association onto the public procurement portal,” GeM announced on X on Thursday.
According to the marketplace, the onboarding will create direct market linkages between manufacturers of medical devices including, consumables, disposables, equipment, instruments, electronics, diagnostics and implants, and interested government buyers pan-India, sans intermediaries.
The MoU will enhance focus on capacity-building and maximization of outreach through training and workshops pertaining to GeM for all stakeholders associated with AiMeD to boost their participation in public procurement activities while ensuring procurement of quality medical devices across the nation, the marketplace added.
Indian medical devices market was estimated at $11 billion and is likely to grow to $50 billion by 2025 as the sector has been growing at a compound annual growth rate of 15 per cent over the last three years, according to the government’s investment promotion agency Invest India.
The market comprises five key segments viz., first, consumables & disposables include needles and syringes, etc; second, diagnostic imaging includes MRI, X-Ray, ultrasounds, etc; third, dental products include dentures, braces, etc; fourth, orthopaedics & prosthetics include knee implants, artificial joints; and fifth, patient aids include hearing aids and pacemakers, etc.
Moreover, there are 750-800 domestic medical device manufacturers in India, accounting for 65 per cent of the market, per government data.
Importantly, in April last year, the government had approved the National Medical Devices Policy for the country to emerge as the global leader in manufacturing by achieving a 10-12 per cent share in the global market over the next 25 years.
Moreover, in September last year, health minister Dr Mansukh Mandaviya had launched the National Policy on Research and Development and Innovation in the Pharma-MedTech Sector in India and the Scheme for promotion of Research and Innovation in Pharma MedTech Sector (PRIP).
The policy aimed at creating an ecosystem of skills and capacities including the academia and the private sectors and give impetus to new talent among the youth through start-ups, the minister had said.