The Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers launched the MEDITECH STACKATHON 2024 in collaboration with the Confederation of Indian Industry (CII) in New Delhi on 7.05.24. Secretary Dr. Arunish Chawla highlighted the immense potential of India’s MedTech industry during the event which is projected to grow at an annual rate of 28%, reaching a market size of USD 50 billion by 2030. India is currently the 4th largest market for medical devices in Asia and among the top 20 globally. In the year 2022-23, net imports stood at USD 4.1 Billion, with an import coverage ratio of 0.45.

The MEDITECH STACKATHON, a pioneering initiative aimed at driving transformative change in India’s burgeoning MedTech sector through an in-depth analysis of select medical devices. By engaging with industry leaders, policymakers, and experts, the STACKATHON addressed key challenges to promote domestic manufacturing, and reduce reliance on imports, positioning India as a global leader in medical technology. Click here to read more on the MEDITECH STACKATHON.