The lack of access to large overseas markets prevents investors from backing medical technology companies in India, unlike pharma and vaccine firms that have large overseas penetration. (Prash Shivkoti Lomash/Unsplash)

Summary

The medical technology device industry is showing an incremental growth on the back of the pandemic, but several issues still plague the sector, hindering its true potential.

Impacted by the COVID-19 Black Swan phenomenon and buoyed by the government’s push to become self-reliant in manufacturing, the medical technology sector in India has been up late with quite a few companies looking to produce unconventional medical equipment. . But MedTech players say that despite the important role played by the sector, there are some concerns that prevent them from realizing their true potential.

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