We want to make India a global MedTech innovation hub: AMTZ MD

There are industries like cement in which business promotes science, and there are sectors like medtech where it is the other way around, says Dr. Jitendra Sharma, Managing Director and Founder CEO of Andhra Pradesh MedTech Zone (AMTZ), Visakhapatnam. A medical expert by training, Dr. Sharma went on to collect three PhDs in his career, which is as expansive as the ecosystem he has built. He is also the founder and Executive Director of the Kalam Institute of Health Technology (KIHT), which serves as a policy think-tank to several government departments. Besides, he is the founder and Executive Chairman of AIC-AMTZ Medivalley Incubation, popularly known as MediValley and BioValley incubators.

His professional footprints extend from AIIMS New Delhi to the World Bank, NITI Aayog, the Indian Biomedical Skill Council, and the World Health Organization. The recipient of many prestigious awards, Dr. Sharma has made AMTZ a credible centre in India’s medical technology landscape. In a candid conversation with Bizz Buzz, he shares his perspectives on the growth of India’s MedTech sector, the challenges of reducing import dependency, and how incubators like MediValley are shaping the next generation of innovators

India’s MedTech sector has been labeled a “sunrise sector.” Could you give us a snapshot of where we stand today?

Absolutely. India’s medical technology sector today is worth around $14 billion and is projected to touch $30 billion by 2030. We are already the fourth largest market in Asia—after Japan, China, and South Korea—and among the top 20 global MedTech markets.

But the paradox is that while demand is growing, we still import nearly 63 per cent of our medical devices. In 2023-24, our imports stood at about $8.1 billion, while exports were nearly $ 4 billion. That imbalance highlights both our vulnerability and opportunity. With strategic policy support, particularly under the PLI Scheme and the National Medical Devices Policy 2023, we could push exports to $15-20 billion by 2030.

This is where AMTZ plays a crucial role. We are building indigenous capacity in areas that were earlier heavily import-dependent. For example, MRI machines usually cost Rs6 crore when imported. Today, machines manufactured within AMTZ cost Rs3 crore. This is science directly reducing costs and improving access.

AMTZ is seen as a model where “science supports business.” How does this philosophy work in practice?

At AMTZ, our guiding belief is that scientific innovation must have commercial viability. Science in isolation may generate knowledge, but when aligned with business needs, it creates impact. Take magnets for MRI machines. India had no or very limited domestic manufacturing capacity for them. At AMTZ, we set up magnet production, which allowed three different companies immediately to begin making MRI machines within our ecosystem. That’s a direct link between science, infrastructure, and business outcomes.

Another example is testing and calibration infrastructure. Earlier, startups and manufacturers had to send devices outside or even abroad for certification, which was both costly and time-consuming. We built state-of-the-art NABL-accredited labs at AMTZ so companies could test and certify in India itself. This reduces cost, accelerates time-to-market, and builds investor confidence.

We’re also working on the concept of partnership-driven Made in India hospitals, especially for Tier III cities and small towns. A small beginning has already been made at two places, including one in Vizag itself. Every device—from surgical needles to ventilators—can be made within AMTZ and deployed in these hospitals. That completes the cycle: research, manufacturing, application, and social impact.

MediValley has emerged as one of India’s most vibrant medtech incubators. What was the vision behind creating it?

MediValley was born out of the recognition that India has brilliant innovators but very few platforms that help them transition from idea to market-ready product. Too often, good concepts die early because of a lack of prototyping labs, regulatory guidance, or investor linkages. We wanted to solve this systematically. That’s why MediValley, located within AMTZ, provides end-to-end incubation support—from ideation and R&D to prototyping, testing, certification, and commercialisation. It’s not just about office space; it’s about creating an entire ecosystem.

Since its inception in 2018, MediValley has supported over 150 startups, generated 40+ research outcomes, and facilitated patents and technology transfers. With the new World Trade Center Tower expansion, we are scaling incubation capacity to 300 startups by 2026. This makes MediValley not just the largest but also the most comprehensive MedTech incubator in India.

What makes MediValley different from other incubators in India?

The strength of MediValley lies in its ecosystem approach. Many incubators provide startups with space and mentorship, but very few integrate every critical piece of the innovation journey under one umbrella. At MediValley, innovators have access to labs, prototyping facilities, certification systems, and manufacturing clusters all within walking distance. This integration drastically reduces the time from concept to commercialization.

I often hear from young founders that the biggest benefit of being at MediValley is that they do not have to run from city to city for approvals or testing. Earlier, many Indian startups had to send prototypes abroad for certification, which cost money and wasted precious time. Now, they can get the same testing and validation done here at a fraction of the cost and in a fraction of the time. That difference is what transforms ideas into market-ready products.

Partnerships and collaborations seem to be a cornerstone of MediValley’s success. How do these amplify its impact?

No incubator can thrive in isolation. MediValley has built deep partnerships with academic institutions, skill councils, and international networks. Within India, we collaborate with IITs and the upcoming MedTech University to bring research depth and academic rigor.

We also work closely with the Indian Biomedical Skill Council to ensure our innovators and technicians have the right training.

On the global front, MediValley and BioValley connect startups to networks such as the WHO, World Health Innovation Forum, and TiE, which help them reach international markets. We have also mobilised over Rs60 crore in grants, including significant funding from DBT-BIRAC, NITI Aayog, and the Department of Pharmaceuticals, to support startups.

When you put all of this together—the infrastructure, the integration with AMTZ, and the partnerships—you get an ecosystem where even a small idea can mature into a globally competitive product. That’s what makes MediValley transformative.

With the expansion of MediValley, what are your goals for the next phase?

Our ambition is clear: to make India a global MedTech innovation hub. The expansion of MediValley is not merely about more space; it is about building capacity for the next generation of MedTech leaders.

In the immediate term, we want to double our startup capacity and ensure that every promising idea gets translated into a tangible product. But in the long run, we see MediValley as the nucleus of a global MedTech corridor, where Indian startups are not just serving domestic needs but competing internationally in robotics, AI-driven wearables, and surgical technologies.

We are also working to create Made in India hospitals in smaller towns. Imagine a hospital where every piece of equipment, from diagnostic imaging to patient monitoring, is indigenously made. That would not only reduce healthcare costs but also showcase India’s capacity for innovation-driven self-reliance.

Where do you see India’s MedTech sector heading by 2030?

If we continue on this trajectory, supported by government policies and private sector innovation, I see India firmly positioned as a global MedTech powerhouse by 2030. The combination of PLI schemes, 100 per cent FDI, and Make in India incentives will bring more manufacturers into the ecosystem. But the real differentiator will be our innovation pipeline. With over 250 startups already active, India is building solutions not only for its own healthcare challenges but also for global markets. Most importantly, this will mean affordable access for patients, reduced dependence on imports, and recognition of India as a knowledge-driven health economy.

Which leading medical technology companies have set up operations at AMTZ, and what kind of products are they manufacturing?

AMTZ today is home to some of the most prominent global and Indian MedTech companies. Transasia Biomedicals has established Asia’s largest IVD manufacturing facility, producing RT-PCR kits, antibody-detection kits, and rapid diagnostic tests. Varex Imaging (USA) manufactures advanced X-ray tubes for CT and radiography machines, while Amphenol Advanced Sensors (USA) produces high-precision medical-grade sensors for vital parameters. TÜV Rheinland India has created advanced certification and testing infrastructure, including EMC/EMI chambers, biomaterial labs, and electrical-safety testing facilities.

Beyond these anchors, AMTZ incubates and scales more than 160 companies, producing CT and MRI systems, superconducting MRI magnets, ventilators, oxygen concentrators, infusion and syringe pumps, dialysis units, N95 masks, PPE, prosthetics, etc.

This unique blend—global anchors producing high-end components alongside agile Indian manufacturers—creates a seamless on-campus value chain of prototyping, testing, certification, and large-scale manufacturing. One clear outcome of this integration is cost transformation: MRI scanners, once imported for nearly Rs6 crore, are now produced domestically at roughly half the cost, lowering hospital expenses and making advanced care more accessible to patients.

How has AMTZ performed financially since its inception, and what impact has it had on reducing India’s dependence on medical technology imports?

When AMTZ was launched in January 2018, India was nearly 95 per cent import-dependent in medical technology. Today, that figure has fallen to about 63 per cent, with the country achieving self-sufficiency in critical segments such as diagnostics and reagents, though high-end electronics and radiology remain import-heavy. This progress is reflected in AMTZ’s financial journey; from modest beginnings in 2018 to annual revenue of nearly Rs18,000 crore today as a cluster, with more than 160 companies thriving on the 270-acre campus and employing around 6,000 people. With almost 5,000 distinct devices being produced, AMTZ has matured into a $2-billion MedTech cluster.

More broadly, AMTZ has acted as a structural catalyst for India’s medtech growth story. Nationally, sectoral exports have risen from about Rs4,500 crore in 2012 to nearly Rs30,000 crore by 2025, a sevenfold increase in just over a decade.

The park has localised over 70 per cent of the value chain, reducing device costs by 30-40 per cent compared to imports.

What is the export scenario currently? What are the challenges you are facing?

AMTZ-made products are already reaching diverse regions, including Central and South Asia (Tajikistan, Kazakhstan), South Asia (Bangladesh), Africa (Kenya), the Middle East (UAE), Southeast Asia (Indonesia), and even island nations such as Barbados. Importantly, these exports now include higher-value diagnostics and therapeutic devices, not just low-value consumables.

Looking ahead, our vision is clear: by 2032, India will become import-neutral in medical technology, with domestic production robust enough to balance—and eventually replace—reliance on imports. Current exports extend across Asia, the Middle East, Southeast Asia, and parts of Europe, and we plan to expand into Australia, Latin America, and Russia in the coming years.

The primary challenge remains regulatory access to mature markets like the US and the EU, where FDA and CE approvals are prerequisites. To address this, AMTZ has built every advanced laboratory required for global certification within its campus—ensuring that our manufacturers can shorten approval timelines, reduce costs, and compete confidently on the world stage.