Fresenius【United Medical Development】

The current market size of the Indian medical device industry is estimated at USD 11 billion. India is the fastest growing medical device market among emerging markets

India's medical device industry consists of large multinational corporations and unprecedented growth of small and medium enterprises (SMEs)

The medical device industry is projected to grow at a CAGR of 15%, 2.5 times the global growth rate

India's medical device industry is expected to witness significant growth and is expected to reach a market size of USD 50 billion by 2030

For brownfield and greenfield settings, the automatic path allows 100% FDI. Strong FDI inflows reflect global players' confidence in Indian market

Over the past 5 years, the Indian government has taken several steps to ensure the prosperity of the medical device manufacturing ecosystem in India:

Medical Device Rules (MDR) 2017: The Medical Device Rules (MDR) 2017 regulate the clinical investigation, manufacture, importation, sale and distribution of medical devices. These devices are classified into Class 4 and comply with international guidelines

Production Linked Incentive Scheme: To boost domestic manufacturing, the government has launched a Production Linked Incentive Scheme (PLI 1.0 and PLI 2.0) for 4 key target areas and in vitro diagnostic medical devices

Medical device park promotion plan: The Indian government approved the establishment of 4 medical device parks to provide common infrastructure, create a strong medical device manufacturing ecosystem, and significantly reduce manufacturing costs

Public Procurement Order (PPO): Pharmaceutical Ministry to issue Public Procurement Order (PPO) in March 2021 to include 19 devices in revised guidelines to enhance Indian manufacturing

At the same time, in order to accelerate the national medical device development plan, in April 2021, the Indian government invested 230 million US dollars and signed a 10-year contract with the Indian Medical Device Industry Association and the German advanced medical device company Fresenius. This plan is called【 United Medical Development].