{"id":106820,"date":"2024-05-08T19:47:36","date_gmt":"2024-05-08T14:17:36","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=106820"},"modified":"2025-02-12T17:07:15","modified_gmt":"2025-02-12T11:37:15","slug":"meditech-stackathon-2024","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/meditech-stackathon-2024","title":{"rendered":"MEDITECH STACKATHON 2024"},"content":{"rendered":"<h2><span style=\"font-size: 18pt;\"><strong>Context<\/strong><\/span><\/h2>\n<p><b>Ministry of Chemicals and Fertilizers<\/b><span style=\"font-weight: 400;\"> launched the <\/span><b>MEDITECH STACKATHON 2024<\/b><span style=\"font-weight: 400;\"> in collaboration with CII in New Delhi.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>Meditech Stackathon<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It is an initiative designed to<\/span><b> catalyze transformative change<\/b><span style=\"font-weight: 400;\"> within India&#8217;s burgeoning MedTech sector by undertaking a comprehensive value chain analysis of select medical devices.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<table style=\"width: 100.099%;\">\n<tbody>\n<tr>\n<th style=\"border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle; width: 100%;\"><span style=\"color: #000000;\"><b>Medical sector of India:\u00a0<\/b><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Currently, India is the<\/span><b> 4th largest market for medical devices in Asia<\/b><span style=\"font-weight: 400;\"> and among the top 20 globally.\u00a0<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Net <\/span><b>imports for 2022-23 <\/b><span style=\"font-weight: 400;\">stands at USD 4101 Million with import coverage ratio of 0.45.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #000000;\">India&#8217;s MedTech industry holds immense potential, with projections estimating a growth rate of 28% annually, reaching a size of USD 50 billion by 2030.\u00a0<\/span><\/li>\n<\/ul>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Objective: <\/b><span style=\"font-weight: 400;\">To address<\/span><b> critical challenges, foster domestic manufacturing, and reduce import dependence<\/b><span style=\"font-weight: 400;\"> through close consultation with industry leaders, policymakers, and experts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Focus areas:<\/b><span style=\"font-weight: 400;\"> It would deliberate in eight focused groups:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Cancer Therapy<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Imaging<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Critical Care<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Assistive Medical Devices<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Body Implants<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Surgical instruments and Hospital Equipment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Consumables &#038; Disposables<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">IVD Instruments and reagents<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<span class=\"vc_button\"><b>Also Read: <\/b><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/patent-act-and-generic-medicines\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Amendments to Indian Patent Rules Could Impact Medicine Costs and Access<\/span><\/a><\/span>\n<p>\u00a0<\/p>\n<table style=\"width: 100.334%;\">\n<tbody>\n<tr style=\"height: 36px;\">\n<td style=\"width: 4453.17%; vertical-align: middle; text-align: center; border-style: solid; border-color: #000000; height: 36px;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Must Read<\/b><\/span><\/td>\n<\/tr>\n<tr style=\"height: 30px;\">\n<td style=\"width: 54.4983%; vertical-align: middle; text-align: center; border-style: solid; border-color: #000000; height: 30px;\"><strong><a href=\"https:\/\/pwonlyias.com\/stage\/ncert-notes\/\" target=\"_blank\" rel=\"noopener\">NCERT Notes For UPSC<\/a><\/strong><\/td>\n<td style=\"width: 4398.67%; 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