It is worth highlighting that the Indian medical devices market was estimated at $11 billion and is likely to grow to $50 billion by 2025.
representational image (IANS photo)
Government eMarketplace (GeM) has signed a memorandum of understanding with the medical device manufacturers’ body Association of Indian Manufacturers of Medical Devices (AiMeD) for its members to sell directly to the government via the GeM portal.
The public procurement marketplace under the Commerce Ministry, GeM, taking it to X said, “This collaborative partnership has been forged to facilitate seamless integration of more than 300 manufacturers of medical devices within the association onto the public procurement portal.
The onboarding will create direct market linkages between manufacturers of medical devices including, consumables, disposables, equipment, instruments, electronics, diagnostics and implants, and interested government buyers pan-India.
Advertisement
The MoU will enhance focus on capacity-building and maximization of outreach through training and workshops pertaining to GeM for all stakeholders associated with AiMeD to boost their participation in public procurement activities while ensuring procurement of quality medical devices across the nation, GeM said.
It is worth highlighting that the Indian medical devices market was estimated at $11 billion and is likely to grow to $50 billion by 2025.
The sector has been growing at a compound annual growth rate of 15% over the last three years.
According to government data, there are 750-800 medical device manufacturers in India, accounting for 65% of the market.
GeM is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments. It aims to enhance transparency, efficiency and speed in public procurement providing the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users achieve the best value for their money.
Advertisement
