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Catalyzing growth of the Indian diagnostic and medtech sector through enabling policies

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  The enabling role being played by the Government to bring preventive healthcare into focus has been notable, especially over the last two years.  The sun seems to be shining bright on the Indian diagnostic and medtech industry with the recent growth prospects that are giving an impetus and opening up a pleothera of opportunities for the Indian manufacturers and diagnostic service providers. The current scenario   Diagnostics is an essential part of the preventive healthcare. And in a country that houses 21% of the world’s disease burden, the importance of reliable, affordable and quality diagnostics cannot be ignored. Let’s not forget, a healthy working population contributes to strong economic development. A healthy country is a happy country. The good news, the domestic diagnostic industry, estimated at USD 9 bn (around INR 675 bn) is expected to grow at a CAGR of ~15% over the next 5 years. While there have been many growth enablers, the government’s role needs a special mention.