Medical Device Policies for New Entrants & Anti-Competitive Practices Essential: Datawise Report

The study, commissioned by the National Minorities Development and Finance Corporation, emphasized that fostering competition would drive down prices and enhance accessibility.

According to a report by Datawise implementing policies to support new market entrants and curb anti-competitive practices is crucial for the growth of the medical devices industry.

The study, commissioned by the National Minorities Development and Finance Corporation, emphasized that fostering competition would drive down prices and enhance accessibility.

The Datawise report, titled “Impact of the Drugs (Price Control) Order (DPCO, 2013) on the Price of Eight Medical Devices, on Industry and Consumers in Terms of Availability and Affordability,” analyzed the effects of price controls on cardiac stents, knee implants, oxygen concentrators, pulse oximeters, glucometers, BP monitors, nebulizers, and digital thermometers.

The report stated, "Promoting competition in the market can drive down prices and improve accessibility."

The study highlighted that ensuring a level playing field for all stakeholders would foster innovation and cost reduction. It recommended introducing policies that facilitate the entry of new players, particularly for generic versions of medical devices, and enforcing strict regulations to prevent monopolies.

The report also suggested providing incentives such as tax breaks, subsidies, and streamlined regulatory processes for manufacturers.

"Encouraging investment in research and development (R&D) within the country will not only boost indigenous production but also lead to innovation and cost reduction over time," it noted.

Improving Healthcare Infrastructure & Accessibility

The study emphasized that investing in healthcare infrastructure and distribution networks ensures medical devices reach even the most remote areas. This involves improving transportation networks, establishing warehouses and distribution centers, and leveraging technology for efficient inventory management and tracking.

The report also stressed the importance of education and awareness campaigns on preventive healthcare and early diagnosis.

Investing in education and awareness campaigns regarding the importance of preventive healthcare and early diagnosis can help reduce the burden on the healthcare system, spotlighted the Datawise report.

“By promoting regular screenings and self-monitoring using devices such as glucometers, pulse oximeters, and blood pressure monitors, individuals can take proactive steps to manage their health, reducing the need for costly interventions later on,"it mentioned.

Enhancing Public-Private Partnerships

Elaborating on public-private partnerships, the report suggested that collaborations between government agencies, healthcare providers, manufacturers, and non-profit organizations could lead to innovative financing models, bulk procurement schemes, and targeted subsidy programs.

These measures would make essential medical devices more affordable for consumers, per report.

The availability and affordability of medical devices also found a mention in the report, according to which, it requires a multi-faceted approach encompassing policy reforms, investment in infrastructure and manufacturing capabilities, promotion of competition, and collaboration among stakeholders.

By implementing these recommendations, policymakers can work towards ensuring that essential medical devices are accessible to all segments of society, thereby improving healthcare outcomes and quality of life for the population, as observed in the report.