The Andhra Pradesh MedTech Zone (AMTZ) is the first of its kind in the country which is working on medical technology and is focusing on Critical Components Research, AMTZ Managing Director and Member Secretary, National Medical Device Promotion Council Dr. Jitendra Sharma said at the Gitam Deemed to be University on Monday.

Dr. Sharma said new medical technologies could drastically bring down medical costs and prove beneficial to developing countries like India, which is spending colossal sums of money on medical equipment imports.

Dr. Sharma, who is also the Executive Director at Kalam Institute of Health Technology, said the institute is encouraging the academic community for technology transfer from research to industry through e-auctions of research outputs.

Booming device market

The AMTZ MD said the Indian medical device market has grown from $2 billion in 2009 to $6 billion in 2018 at a compound annual growth rate (CAGR) of 16%, and is estimated to grow up to $10 billion by 2020.

He said India is one of the top 20 global medical device markets and the fourth largest medical device market in Asia.

Unique programmes

“The AP MedTech Zone is initiated to successfully run rural medical and health programmes in Andhra Pradesh through 7,000 ATM (Any Time Medical Care) centres with the support of WHO (World Health Organisation) where the physical presence of doctors is not possible,” Dr. Sharma said.

He added that they are planning to implement home care health programmes for citizens aged above 65, in a first of its kind move in the country.

Gitam In-charge Vice Chancellor Prof. K. Sivaramakrishna said the university was ready to tie up with AMTZ to focus on new technology areas for academic development. Gitam School of International Business (GSIB) Director Prof Y Gouthama Rao, Centre for Entrepreneur Programs Chairperson Dr. Radha Raghuramapatruni and others participated in the programme.