After receiving an ITA , I submitted my application on 18th of July.
On the 27th I got an update saying You have passed the medical exam. What are the next steps and how much time would it take??
You don't have to do anything.
In general, next step they will check whether your application is completed (R10 completeness check), then do background check, it take few months, some people could get it done within 2 months, all varies.