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MEDITECH STACKATHON 2024 is launched by Department of Pharmaceuticals
Dr Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers launched the MEDITECH STACKATHON 2024 in collaboration with CII. This launch ceremony was organized in New Delhi.
Aim of the initiative:
The main objective of the MEDITECH STACKATHON 2024 is to address the critical challenges of medical technology in India. It is designed to strengthen domestic manufacturing and decrease the burden of imports.
The MEDITECH STACKATHON came into force to bring the transformative change within India’s flourishing medical technology sector.
Medical technology sector:
India’s medical technology sector has significant importance. This industry is going to witness a growth rate of 28% annually and is expected to reach the size of USD 50 billion by 2030.
Currently, India secures 4th place for being the largest market for medical devices in Asia and it is placed among top 20 globally. If we talk about the imports, for 2022-23 it was around USD 4104 million and the importance coverage ratio was 0.45.
Significance :
There are eight focused group for the MEDITECH STACKATHON 2024 including Cancer Therapy, Imaging, Critical Care, Assistive Medical Devices, Body Implants, Surgical instruments and Hospital Equipment, Consumables & Disposables, and IVD Instruments and reagents.
Conclusion:
The MEDITECH STACKATHON 2024 has immense potential to harness the expertise of various stakeholders and help to reach the heights for India’s medical technology industry.
Important Questions:
- What is the MEDITECH STACKATHON 2024?
- Which Ministry has launched the MEDITECH STACKATHON 2024?
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