The Indian subcontinent has been a major importer of its medical devices and in fact still continues to be. It is stated that as much as 80% of India’s medical devices are imported therefore causing a significant outflow of the country’s foreign exchange.
Thus to substantially reduce India’s overdependence on imported medical equipment the Andhra Pradesh government recently initiated the Andhra Pradesh MedTech zone more widely known as AMTZ.
Spread over 270 acres AMTZ aims to put India on the global map of high end medical equipment production and make health care products affordable and accessible not only for India but for world at large.
From testing to manufacturing to policy making to incubation to skill training this zone encompasses all relevant facilities in one place.
‘This is not a one stop shop but a one stop mall’ said its young & dynamic CEO and MD Dr.Jitendar Kumar Sharma, a person credited for creating this facility in record time.
‘This is the world’s fastest built industrial zone, constructed in 342 days with 14 lakh sqft of infrastructure’ said Dr Jitendar speaking to Vizag Industrial Scan.
As per reports the Indian medical device industry is said to be around USD 5 billion while the global medical devices market is said to reach $409.5 billion by 2023 thus representing a humungous opportunity for medical devices manufacturing in India.
One of the main reasons that a facility like this has been absent in India is that medical manufacturing requires huge upfront investments thus scaring away many. However the sunrise state of Andhra Pradesh hasn’t shied away from this opportunity by being the first to set up a zone like this and wants others to replicate its success once in full swing.
‘We want to model the success of AMTZ on the lines of the Delhi metro where other states come to us for our expertise in replicating something like this in their states too’ said Dr Jitendra.
He said it is better to have a onetime big investment in creating a facility like this than every year doling out huge sums of money to other countries in getting India’s medical equipment.
AMTZ already has many firsts to its credits, the zone claims to have India’s largest integrated 3d printing facility.
It is stated that due to the lack of such centrally located sharable facilities manufacturers either don’t undertake production of technologies or send their products abroad for process up-gradation and value addition.
‘With in-house high end manufacturing facilities we would help manufacturers reduce the cost of manufacturing by more than 40%-50%’ said Dr Jitendra.
Similarly to reduce logistics costs the zone is well connected with Railways, Roadways, Waterways and Airways.
Giving a fillip to research and development in this field AMTZ has the Kalam institute of health technology (KIHT). A policy making body KIHT facilitates focused research on critical components pertaining to medical devices. One of the ways it does this is through technology transfer.
Out of the total availability for 240 companies 85 units have signed up with the zone with 22 units having started their production. The total projected employment by this zone is said to be 25000 and the total revenue potential of the zone is said to be Rs 25000 crores once totally functional.