‘Healthcare is not just a service sector but a driver of India’s development goals. Public and private sector partnership is a potential in transforming India’s healthcare as model for the world.’
The 21st CII Health Summit, themed "Transforming Healthcare for 2047," was held on 19th Dec at New Delhi.
The summit featured an exhibition highlighting the latest medical innovations and technologies, paving the way for a future-ready healthcare system.
Ms Punya S Srivastava, Secretary, Ministry of Health and Family Welfare, emphasized on vital role of private sector in accelerating the integration of innovation and technology in healthcare.
“Health is not just a social imperative but an economic necessity. Under the visionary leadership of our Prime Minister, Shri Narendra Modi Ji India's healthcare agenda focuses on making healthcare affordable and accessible to all citizens.”
MedTech role in accelerating healthcare transformation
Ms Anupriya Patel, Minister of State, Ministry of Health and Family Welfare & Chemicals and Fertilizers, highlighted role of India’s MedTech industry in addressing the needs of the country’s evolving healthcare ecosystem. Driven by rising domestic healthcare demand, expanding middle-class awareness, increased insurance coverage under Ayushman Bharat, and growing medical tourism, the MedTech sector is poised to transform healthcare delivery and outcomes.
“MedTech Industry is cornerstone of building an AtmaNirbhar (self-reliant India). I appeal to all stakeholders to collaborate & leverage India’s unique strengths in innovation, digital integration, and robust supportive policies, in making India a global MedTech hub.”
India-Japan Collaboration more relevant than ever
Dr Kenji Shibuya, Chief Executive Officer, Medical Excellence JAPAN, underscored the potential impact of Indo—Japan Partnership in healthcare by leveraging their complementary strengths and opportunities for respective healthcare sector. Dr Shibuya added that Government based initiatives like Ayushman Bharat and Japan’s Global Health Strategy align in their commitment to accessible and affordable healthcare.
“By collaborating in the third markets, like Southeast Asia, Africa, India and Japan can address regional healthcare challenges and establish as leaders in the global health innovation.”
Dr Naresh Trehan, Chairman, CII National Healthcare Council and Chairman and Managing Director, Medanta – The Medicity, emphasized that India must prepare itself for emerging challenges such as rising burden of obesity and diabetes and an aging population. He added that key pillars to healthcare transformation as - robust infrastructure, skilled professionals, and transformative technologies like AI and ML.
“MedTech will play a dual role in enhancing care quality and early detection while multiplying human capital. With a projected MedTech market size of $250 billion by 2047, India must scale innovations globally and tackle challenges like climate change, healthcare emissions, and social determinants of health.”
The Trillion Dollar Prescription: Financing Health for 2047.
Mr Kiran Gopal Vaska, Joint Secretary & Mission Director (ABDM) National Health Authority shed light on the significance of data interoperability in increasing efficiency in health insurance claims management, being leveraged through Ayushman Digital Health Mission (ABDM) and thereby achieving the vision of Health for All by 2047.
“Centralized claim exchange platform such as Ayushman Bharat Health Account (ABHA) act as a bridge between healthcare providers and payers, streamlining operations and improving the health information system.”
MedTech Industry: Accelerating India’s growth story as health and economy driver
India's MedTech sector has experienced remarkable growth, with exports rising from $1.4 billion in 2020 to $4 billion in 2024, driven by Production-Linked Incentive (PLI) schemes and supportive regulations. The sector leverages India's vast, skilled workforce, advanced digital infrastructure, and strong adoption capabilities. To enhance its global footprint, India must streamline regulatory pathways, generate robust clinical data, and develop differentiated products for international markets. Achieving economies of scale, investing in R&D, and fostering innovation are essential for positioning India as a leading global MedTech hub. In order to accelerate investment in healthcare India, there is need to unlock the potential of social capital through increasing share of public health expenditure as percentage of GDP. Collaboration between healthcare providers and manufacturers is the key enabler to innovation and technology adoption.
19 December 2024
New Delhi