The Modi government is set to further regulate the medical devices industry, which is pegged at over Rs 80,000 crore, in the next five years. The government, which had in 2014 capped the prices of stents and knee implants, is now working on a proposal to formulate a pricing policy for over 6,000 medical devices in the country such as pacemakers, hearing aids, glucometers, and blood pressure instruments. A senior official of the Department of Pharmaceuticals (DoP), which is working on the proposal, told ThePrint that the pricing control aimed to check a loophole in the import of the medical devices.
According to the Association of Indian Medical Device Industry (AIMED), the largest lobby of medical device makers in India, the sector is worth over Rs 80,000 crore at the retail and institutional level but is mainly dominated by imports. “The foreign companies sell their products directly…
