Medical device market to reach $30 billion by 2030

• Despite government aid, medical device manufacturing in India faces infrastructure issues.
• Union Minister of Health and Family Welfare J. P. Nadda has announced a Central scheme to boost the sector, with an investment of ₹500 crore.
• The scheme targets manufacturing of key components and accessories, skill development, support for clinical studies, development of common infrastructure, and industry promotion.
• The medical device industry is critical for disease prevention, diagnosis, and treatment.
• The scheme is expected to boost India’s self-reliance and foster growth in the medtech sector.
• Industry experts believe the move will accelerate sectoral growth, reduce import reliance, and enhance India’s position as a leading exporter of medical devices.