Two medical device cos soon to start operations at India’s first govt funded medical device park in Andhra PradeshPublish Date : Aug 03, 2018
The Andhra Pradesh MedTech Zone (AMTZ) – India’s first government funded medical devices manufacturing park at Visakhapatnam will soon roll out indigenous medical devices as it has inked formal agreements with two companies for which layout has been approved and construction has started.
The park which also houses four medical device testing centres with 18 different types of testing facilities under one roof has booked 28 companies out of total 45 companies in the first phase. AMTZ is spread over 270 acres and first phase is envisaged to cover 70 acres of land and the rest will be covered under subsequent phases. The company which takes up the project at AMTZ is leased the land at a rate of Rs. 1,500 per square feet.
According to an official associated with the development, “We expect one of the two companies with one of them dealing with point-of- care testing and rapid testing products to start operations by next month.”
AMTZ has also inked formal agreements with the various scientific facilities which include Centre for Electro-Magnetic Interference/ Electro-Magnetic Compatibility (EMI/EMC) and Electrical Safety Testing (EST), Centre for Biomaterials Testing, Centre for X-ray and CT Scan Tube Manufacturing, Centre for 3D Designing, canning, Printing, Rapid Prototyping & Tooling, Centre for Gamma Irradiation and AMTZ Central Warehouse.
The AMTZ with in-house high investment scientific facilities would help Indian manufacturers reduce the cost of manufacturing by more than 40 per cent to 50 per cent.
Kalam Institute of Health Technology (KIHT), India’s first institute dedicated to medical technology located at AMTZ, Visakhapatnam is also working towards building a robust system for innovation in the medical devices sector in the country. It recently received 100 per cent financial support from the Department of Biotechnology (DBT).
KIHT is also working towards hosting a first of its kind congregation of innovators, investors and manufacturers for technology transfer from academia to industry for commercialization. KIHT’s proposition is further strengthened through its partnership with Association of Indian Medical Device Manufacturers (AIMED) which brings access to technical bandwidth from the industry and opportunities for deeper collaboration with the medical device industry.
The medical device park is proposed to have all such facilities in-house that are required for specialized product verticals to reduce manufacturing process costs. The park will provide modern state of art common facilities such as specialised laboratories, warehousing, testing centre, independent manufacturing units, each in a built-in ready to use area of 0.5 to 1 acre each.
A dedicated medical devices park would be of immense help in reducing import dependency, increasing export while generating wealth and employment within the country.
Indian medical device industry is worth over Rs. 60,000 crore and country’s import bill for this segment amounts to over Rs. 23,000 crore while export amounts to only over Rs. 7,000 crore. India’s import dependency on high-end medical devices is over 80 per cent and 60 per cent to 70 per cent for other devices.