Addressing the Curtain Raiser of ‘India MedTech Expo 2023’, scheduled to be held in Gandhinagar, Gujarat from 17th to 19th August 2023, Dr Mansukh Mandaviya, Union Minister for Health & Family Welfare and Chemicals & Fertilizers, Government of India said that India is set to emerge as the global manufacturing hub for medical devices through a holistic development of healthcare, pharmaceuticals and medical devices sectors.

The market size of Indian medical devices sector is likely to reach $ 50 billion in coming years from current $ 11 billion. He further emphasised that in order to make healthcare affordable, the government is targeting to increase the share of generic medicines to 50-60 per cent from current level of 14 per cent alongside localisation of medical devices.

To unleash the potential of the sector and brain-storm the path ahead, the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India is hosting the pioneering ‘India MedTech Expo’ with central theme ‘India: The Next MedTech Global Hub’ Future of Devices, Diagnostics and Digital’, which is being organised alongside G20 Health Ministers’ Conference. The Federation of Indian Chambers of Commerce & Industry (FICCI) is the industry partner for the Expo.

The Expo will have various pavilions, including Future Pavilion, R&D Pavilion, Start-up Pavilion, State Pavilion, Regulators Pavilion and Make in India Showcase. More than 400 exhibitors including 150 plus MSMEs, 150+ Domestic and International Manufacturers, Start-ups, Regulatory agencies, State Governments and Central Departments will participate in it. As many as 7 States - Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Himachal Pradesh, Rajasthan, Andhra Pradesh and Gujarat are setting up pavilions during the expo.

Also, a total of 231 foreign buyers from 50 countries primarily from 5 major regions Africa, ASEAN, CIS, Middle East and Oceania will participate in the international buyer-seller meet.