The India medical devices market size reached USD 18.02 Billion in 2024. The market is expected to grow to USD 30.64 Billion by 2033, exhibiting a growth rate (CAGR) of 6.08% during 2025-2033 driven by factors such as rising healthcare demands, increasing government investments in healthcare infrastructure, advancements in medical technology, an expanding elderly population, and the growing prevalence of chronic diseases. These dynamics are fostering the adoption of advanced diagnostic and therapeutic devices in the country. The report presents a thorough review featuring the India medical devices market forecast, analysis, share, trends, and research of the industry.
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Key Trends:
The India Medical Devices Market is currently undergoing a structural transformation, pivoting from a heavily import-dependent sector to a hub of domestic innovation and manufacturing. A dominant trend is the aggressive push for “Make in India,” fueled by the Production Linked Incentive (PLI) scheme, which has incentivized the local production of high-end equipment like MRI machines, CT scanners, and linear accelerators that were previously sourced exclusively from global giants. Additionally, there is a massive surge in the adoption of “MedTech” solutions, particularly Artificial Intelligence (AI)-integrated diagnostic tools and wearable health monitors.
These smart devices are enabling remote patient monitoring, a critical capability that bridges the gap between urban specialists and rural patients. Moreover, the regulatory landscape is maturing with the implementation of the Medical Devices Rules (MDR), ensuring that Indian-made devices meet global quality standards (CE and FDA compliances). This focus on quality and self-reliance is not only serving the domestic market but is also positioning India as a credible exporter of cost-effective, high-tech medical consumables to emerging economies in Africa and Southeast Asia.
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Market Growth Factors
The primary engine fueling the India Medical Devices Market is the unprecedented expansion of healthcare infrastructure across Tier-2 and Tier-3 cities. The proliferation of private hospital chains and the upgradation of government medical colleges under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) are creating a sustained demand for diagnostic and surgical equipment. In addition, the country’s demographic shift is a significant catalyst; a rising aging population combined with the increasing prevalence of chronic lifestyle diseases—such as diabetes and cardiovascular ailments—is driving the need for continuous monitoring devices and implantables like stents and orthopaedic joints.
Furthermore, the boom in medical tourism is acting as a force multiplier. As international patients flock to India for affordable yet world-class treatments, hospitals are compelled to invest in state-of-the-art robotic surgery systems and advanced imaging technologies to maintain their global competitiveness. These factors, supported by increasing health insurance penetration under Ayushman Bharat, ensure that the market trajectory remains robust and resilient.
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Market Segmentation
Type Insights:
- Orthopedic Devices
- Diagnostic Imaging
- Cardiovascular Devices
- Wound Management
- Minimally Invasive Surgical (MIS)
- Diabetes Care
- Dental Devices
- Ophthalmic Devices
- In Vitro Diagnostics (IVD)
- General Surgery
- Others
End User Insights:
- Hospitals and Ambulatory Surgery Centers (ASCs)
- Clinics
- Others
Regional Insights:
- North India
- South India
- East India
- West India
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Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Recent Developement & News
- March 2025: Zydus Lifesciences announced plans to acquire an 85.6% stake in French medical devices company Amplitude Surgical for EUR 256.8 million (approximately USD 280 million), aimed at expanding its global medical devices portfolio, particularly in lower-limb orthopedics.
- March 2025: Apollo Hospitals declared intentions to increase investment in artificial intelligence (AI) for automating routine tasks including medical documentation, patient diagnosis assistance, transcription of doctors’ notes, and treatment suggestions, aiming to reduce workload for medical staff.
- November 2024: The Indian government launched an INR 500 crore scheme focused on strengthening domestic manufacturing, skill development, clinical research, and infrastructure enhancement in the medical devices sector, hailed as a “game-changer” by Union Health Minister J.P. Nadda.
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