Slated from October 7-8, 2021 in Visakhapatnam, the joint effort aims to provide further impetus to indigenous manufacturing of medical devices and bring forward innovations and specialised medical tools and technologies that can attract domestic and global investors
With an objective to draw attention to the growth opportunities and latest developments in the Indian Medical device industry, Messe Frankfurt Trade Fairs India has joined hands with India’s first integrated medical devices manufacturing ecosystem: Andhra Pradesh MedTech Zone (AMTZ).
The joint effort aims to provide further impetus to indigenous manufacturing of medical devices and bring forward innovations and specialised medical tools and technologies that can attract domestic and global investors.
The launch of MedTech Innovation Forum aims to create a collaborative platform for medical device manufacturers, innovators and technology experts to exchange advancements and innovations for the development of the Indian medical device industry, as per a release.
Slated from October 7-8, 2021 in Visakhapatnam, the first edition of this key business event is expected to bring industry leadership together with government and medical consultants to address integral challenges of import dependency, need for technology collaborations as well as medical technology advancements that can be introduced in the industry. The forum has received strong support from apex industry bodies – Association of Indian Medical Device Industry (AIMED) and (Association of Diagnostics Manufacturers of India (ADMI).
Commenting that India’s response and agility in scaling up manufacturing of medical devices together with strong initiatives by the government on making the sector ‘Atmanirbhar’ makes it opportune time to introduce a forum that focuses on bringing medical technology innovations to the forefront, Raj Manek, Managing Director, Messe Frankfurt Trade Fairs India said they are proud to combine strengths with AMTZ in this goal and are confident that the critical insights on MedTech advancements and challenges will enable the sector to create an environment for improved trade and investment opportunities.
The Indian medical devices market, which accounts for more than 1 per cent of the Asia-Pacific (APAC) medical devices market, is expected to grow at a compound annual growth rate of 7.5 per cent through 2025.
Dr Jitendra Sharma, MD & CEO, Andhra Pradesh MedTech Zone elaborated that the industry is poised for significant growth in the next five years, however, it is still largely import-driven with 90 per cent of sophisticated devices being imported from around the world. He believed that the dialogue with medical device manufacturers and innovators will open up opportunities to empower the country’s strong healthcare and medical device industry in the post COVID-19 era.
Dr Sharma further added that AMTZ aims to put the Indian medical device industry on the global map by encouraging sector innovations, and they were happy to join hands with Messe Frankfurt in this endeavour as their expertise and reach across sectors in India will help bring in key stakeholders together.