India's first medical devices park to come up in Kerala; about 5,000 job opportunities to be created

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Kerala Chief Minister Pinarayi Vijayan will lay the foundation stone for medical devices park at Thiruvananthapuram on September 24

Kerala will soon house one of the first medical device parks in the country, focusing on the high-risk medical device sector to provide full range of services for the medical devices industry like R&D support, testing, and evaluation.

MedSpark, the medical devices park envisaged as a joint initiative of Central government’s Sree Chitra Tirunal Institute for Medical Sciences & Technology (SCTIMST), an autonomous institute of the Department of Science and Technology (DST) and the Kerala State Industrial Development Corporation (KSIDC), the industrial and investment promotion agency of Kerala, is going to be established in the Life Science Park at Thiruvananthapuram.

This medical device park will stand out with its emphasis on the high-risk medical device sector involving medical implants and extracorporeal devices, in which SCTIMST scores with its knowledge, said the Union Ministry of Science and Technology.

The medical devices park will create an enabling support system for R&D, testing and evaluation of medical devices, manufacturing support, technology innovation, and knowledge dissemination, all of which are the full range of services that the medical devices industry seeks, the ministry said.

These services can be utilised by the medical device industries located within the MedSpark as well from other parts of India. This will benefit small and medium-sized medical devices industries, which dominate the medical devices sector.

Kerala Chief Minister Pinarayi Vijayan will lay the foundation stone for medical devices park on September 24 (Thursday).

“Sree Chitra has made substantial contributions to the biomedical devices sector over the last 30 or more years and has established itself as a pioneer in this field. This is a milestone for biomedical devices industry in the country and is fully aligned with the Prime Minister’s Vision of Aatmanirbhar Bharat”, said Dr. VK Saraswat, NITI Aayog Member and the President of SCTIMST.

“The park is being established under the Technical Research Centre for Biomedical devices program of the DST, through a knowledge partnership with KSIDC tapping the ecosystem that exists in the city with several research and academic institutions and health care centers. It was possible with the support of various departments of the Central Government and Niti Aayog,” said Dr. Asha Kishore, Director, SCTIMST.

MedSpark can leverage the existing advantage of the Kerala in the high-risk medical device manufacture and develop it into the most sought after destination for setting up medical device industry in India.

Currently, Kerala has a number of medical device companies with an annual turnover in excess of Rs. 750 crores, most of them operating with technologies transferred from SCTIMST.

The business model for the MedSpark is self-sustaining in which its operational expenses will be generated from its revenue streams. Funding from the state and central governments (both Kerala State and Central) through various schemes will meet the capital expenditure and deficit in income against expenses during the initial stages

It is expected that the project would provide direct employment to 1200 people. Besides, employment generation up to 4000 – 5000 jobs through the supporting industries like OEM suppliers, service providers, and marketing/post-marketing support activities.

Image credit: Express healthcare

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