Written by ADVANCING TECHNOLOGY & INNOVATION IN INDIAN MEDICAL DEVICES AND ALLIED SECTORS
The Indian medical devices market has been identified as a sunrise sector by the Government of India, with its valuation anticipated to reach USD 50 Billion by 2030 Ernst & Young India; 26 Nov., 2024.
Notwithstanding the enormous growth potential of Indian medical device sector, its global market share is still fairly low with most of the domestic manufacturing focused on consumable and disposables, i.e. the lower end of technology value chain.
Realizing this, Government has identified medical devices sector as a priority area for the flagship ‘Make in India’ program and is committed to strengthen the manufacturing ecosystem through its ambitious initiatives
Technology and Development Board (TDB) has also, over the years, supported development and commercialization of socially and technologically relevant medical devices. In order to strengthen country’s priority sectors, TDB is launching the current ‘Call for proposal’ to supplement existing policy initiatives to bridge the current medium to high technology gap in Indian medical devices industry..
Technology Development Board invites proposals from Indian industrial concerns operating in medical devices and allied sectors to apply for funding support for product development/ manufacturing/scale-up; technology adaptation for new product development; medical device supply chain components; chemical and raw materials for diagnostics and kits; and product commercialization
Objectives of the Call for Proposal
I. Identify and act in areas requiring strategic interventions and develop socially relevant technologies by increasing access and universality to affordable and quality medical and healthcare devices.
II. Encourage production of competitive consumer products thereby reducing import dependence by supporting manufacturing and commercialization of medium to high technology medical devices.
III. Invest in core technological strengths to enable Indian industry to stand-up to the competitive pressure and accelerate country’s share of high-end, complex medical devices in global market.
Scope and focus areas
- Diagnostics and Imaging devices: Including Radiology (both ionizing & non-ionizing radiation products); Nuclear Imaging Devices; Anesthetics & Cardio-Respiratory medical devices including catheters of cardio respiratory category; Renal Care medical devices; Artificial Intelligence based devices for detecting and monitoring lifestyle and other diseases.
- Therapeutic and Prosthetics: Including cancer care/Radiotherapy devices; All Implants including prosthetic limbs/organs, implantable hearing aids/ear prosthesis; ophthalmic prosthetics (artificial eyeballs/cornea, eye socket replacements); voice prosthesis etc.
- Regenerative therapy devices: Including cell therapies, immunomodulation therapies and tissue engineering (laboratory grown organs and tissues) related devices.
- Medical equipment (others): All medical devices as classified under low risk (Class A) to high risk (Class D) categories in the Medical Devices Rules, 2017 and as detailed by Central Drugs Standard Control Organization on their website.
Eligibility Criteria:
- Any Company incorporated under the Companies Act, 1956/the Companies Act, 2013.
- A company intending to commercialize the technology.
- The eligibility criteria and financial support shall be as per the TDB guidelines. Please refer to the website for more details: https://tdb.gov.in/project-funding-guidelinesfaqs
Modes of Funding:
- Loan @ 5% Simple Annual Interest
How to Apply:
All applications have to be submitted through online portal of TDB. The detailed information and the format for submission of the proposal may be downloaded from the official website: https://tdb.gov.in/
For queries and further details contact:
Dr. Richa Panwar
Sr. Project Coordinator
Technology Development Board
https:/tdb.gov.in/
Email: richa.panwar@tdb.gov.in
Starting date of call for Proposal: December 16, 2024
Last date to apply : 16th February 2025
Source: https://tdb.gov.in/