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Import of medical devices to India declines 3.3% in 2022-23

Imports of medical devices to India have registered a slight decline of 3.3 per cent during the financial year 2022-23 as compared to the previous year, with the imports from China declining almost 20 per cent. The imports of Covid-critical medical devices has seen a significant fall during the financial year, resulting in the overall decline in imports.

According to data from the AiMeD, the umbrella Association of Indian Medical Industry covering all types of medical devices including consumables, disposables, equipment’s, instruments, electronics, diagnostics and implants, the medical devices imports to India stood at Rs. 61,179 crore during 2022-23, as compared to Rs. 63,276 crore during 2021-22. However, this is the second highest imports in the last five years starting from 2018-19, following the highest imports in these five years reported in 2021-22.

In 2018-19, the imports were at Rs. 40,915 crore, which grew to Rs. 41,709 crore in 2019-20, and to Rs. 44,759 crore in 2020-21.

Imports from China declined almost 20 per cent to Rs. 10,397 crore in 2022-23, as compared to the highest imports of Rs. 12,979 crore during the year 2021-22. The decline was owing to the drop in Covid-19 critical medical devices and the impact of Public Procurement Order (PPO) promoting the Make in India move by the government, said Rajiv Nath, Forum Coordinator of AiMeD.

Imports of thermometers have declined more than 91 per cent from Rs. 1,480 crore in 2021-22 to Rs. 130 crore in 2022-23. Similarly, imports of oxygen therapy equipment fell 87.4 per cent from Rs. 1,975 crore to Rs. 248 crore, examination gloves 78.54 per cent from Rs. 2,275 crore to Rs. 488 crore, diagnostic test kits 41.56 per cent from Rs. 3,850 crore to Rs. 2,250 crore, and oximeters from Rs. 1,200 crore to Rs. 800 crore during the respective period.

However, imports of ophthalmic surgical equipment (from Rs. 100 crore in 2021-22 to Rs. 1,500 crore in 2022-23), MRI (Rs. 1,400 crore to Rs. 2,200 crore), Surgical Instruments (from Rs. 900 crore to Rs. 1,200 crore), Artificial joints (from Rs. 950 crore to Rs. 1,400 crore), Intraocular lens (from Rs. 1,080 crore to Rs. 1,780 crore), and Cochlear implants (from Rs. 400 crore to Rs. 600 crore), reported a growth during the period.

While imports from China have declined, the imports from the other top five countries from where India imports medical devices has reported a growth during the year 2022-23 compared to the previous year.

Imports from the USA, Germany, Singapore and Netherlands, the top four other source countries, have registered the highest imports in the last five years, during the fiscal 2022-23, according to the data.

Imports from the USA grew 16.7 per cent to Rs. 11,350 crore in 2022-23 from Rs. 9,724 crore in 2021-22. Imports from Germany reported a growth of 15.86 per cent to Rs. 6,411 crore as compared to Rs. 5,533 crore during the previous fiscal year. Imports from Singapore grew 26 per cent to Rs. 6,275 crore in 2022-23 as against Rs. 4,981 crore in the corresponding period of previous year. Imports from Netherland stood at Rs. 3,322 crore as against Rs. 2,451 crore during the comparable period, with a growth of 35.53 per cent.

The various initiatives from the government including the National Medical Devices Policy (NMDP), 2023, the Production Linked Incentive Scheme, MedTech Park Schemes, the Indian Certification for Medical Devices by Quality Control of India (India), price caps on stents and knee implants, duty increase of five per cent on some devices as a cess for NHA, among others are part of the Make in India achievements in the sector, said Nath.

Monday, July 10, 2023

Source: pharmabiz.com