Speaking on the topic of “Seizing the Global Opportunity” at the 14th CII Global MedTech Summit, he added that telemedicine is anticipated to generate USD 5.5 billion by 2025.
He stated that eSanjeevani, a technological innovation developed by the Ministry of Health & Family Welfare, has made it possible for thousands of individuals living in distant areas of the country to consult with doctors in big cities while relaxing in the comfort of their own homes.
According to him, during the past two years, under Prime Minister Narendra Modi, healthcare has become more innovation- and technology-focused, and 80% of healthcare systems intend to boost their investment in digital healthcare technologies over the next five years.
The primary goal of the government, according to Singh, is to guarantee self-reliance in Med-Tech at 80% through the Make in India initiative with SMART milestones and reduce import dependence from 80% to below 30% in the next 10 years.
He claimed that in addition to announcing supportive policies for FDI, the government has strengthened the healthcare sector through structural and ongoing reforms.
Due to this, the country has changed its trend, becoming a hub for MedTech innovation. Now, rather than importing western products, Indian entrepreneurs are creating ground-breaking MedTech products and solutions.
According to him, India has reached a turning point that is causing the healthTech and medTech ecosystem to rapidly expand.