Hyderabad Is Life Science Capital Of India Over $100 Billion By 2030: KTR
“Telangana recognises medical devices and diagnostics sector as a high potential, high growth sector, which presents unlimited opportunities. The MDP underscores our intent to reduce the country’s dependence on imports. The government is committed to strengthening the State’s manufacturing capabilities which will help attract even greater investments in medical device product segments ranging from capital equipment, implantable devices, diagnostics, and consumables. We aim to make this park, not just a global factory for the world but a global MedTech innovation ecosystem,” Rama Rao said.
India is among the countries recently named as likely to have the strongest gains in developing next-generation life-saving products and rapid diagnostics manufacturing, to meet the urgent healthcare needs of the world in the coming years. “During this period of tremendous growth in both the Indian economy and its healthcare sector, coupled with availability of skilled human resource and low operation costs, it is a critical time to capitalise on the opportunities in the medical devices sector available within India, and particularly in the MDP of Hyderabad,” he said. Hyderabad is home to many precision engineering and plastic manufacturers capable of handling multiple types of materials. Also, the availability of talent pool from academic and research and training centres supports the medical devices segment.