With the advent of TRIPS, the IP regimes have changed in most WTO member countries. India also came up with its own version of TRIPS compatible IP regime which has been hailed by some as a 'model' regime for developing countries, while others are not convinced that it will provide the right incentives for medical innovation and enhance access to healthcare. This paper undertakes a review of available studies to provide a perspective on the role of IP protection in developing healthcare innovations. Broadly, the relevant literature in the context of India has followed two strands: some studies focus on the implications of the new IP regime on access to healthcare, while others explore the implications of IP on innovation in general and medical innovation, in particular. Interestingly, the two strands do not converge. Moreover, many studies view IP driven innovations as a constraint on access, as these are expected to be monopolized by the IP owner. We argue that there is merit in viewing healthcare access and innovation as complementary processes. This is particularly the case when one defines 'health innovation' more broadly to include:(a) Product innovations in drugs; (b) Process innovations in pharmaceutical industry; (c) New drug delivery mechanisms , bio-enhancers and dosage forms; (d) Product innovations in medical equipment and devices; (e) Innovations in the delivery of health services; and (f) Policy innovations to enhance access to healthcare.