Reimbursement framework for medical devices in India
India is an emerging medical device market with huge potential due to its vast population, increasing income, rising healthcare demand, along with increased health insurance coverage. Government-backed schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) have significantly extended the reach of healthcare services (including medical devices) to wider population. Also, the newly instituted Health Financing and Technology Assessment (HeFTA) unit within the National Health Authority (NHA) will have a greater positive impact on the reimbursement framework in the coming years.
The growth and sustainability of any market, and making innovative technologies accessible to patients depends on a solid reimbursement framework and open price considerations. Considering India’s remarkable growth potential in the medical devices sector, certain aspects of the current reimbursement and pricing framework must be re-evaluated to enable continuing market expansion and access to trailblazing healthcare innovations for patients.