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Market Overview
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 trends , share, growth, and research of the industry.
Note: “We are currently updating our reports to the 2026–2034 period. If you need the latest data, information, and industry insights, please click on “Request Free Sample Report”
Key Trends:
The India Medical Devices Market is currently undergoing a structural transformation, shifting from a historical reliance on imported high-end equipment to becoming a global hub for cost-effective, innovation-driven manufacturing. A dominant trend is the rapid integration of Artificial Intelligence (AI) and Internet of Things (IoT) into diagnostic tools; Manufacturers are increasingly launching "smart" wearable devices—such as continuous glucose monitors and remote ECG patches—that cater to the rising demand for preventative home healthcare.
Additionally, the industry is witnessing a "Make for the World" paradigm shift. Domestic players, previously focused on low-tech consumables like syringes, are now moving up the value chain to produce complex Class C and D devices, including orthopedic implants and radiology equipment, specifically designed for export to emerging markets in Africa and Southeast Asia. Moreover, the concept of "Frugal Innovation" is gaining traction, where global MNCs are utilizing their Indian R&D centers to engineer affordable, portable diagnostic kits tailored for low-resource settings. This localization strategy not only addresses the price sensitivity of the Indian rural market but also positions India as a critical alternative in the global supply chain diversification strategy.
Grab a Free sample PDF of this report: https://www.imarcgroup.com/india-medical-devices-market/requestsample
Market Growth Factors
The robust expansion of the India Medical Devices Market is fundamentally catalyzed by the government's ambitious Production Linked Incentive (PLI) schemes, which have successfully attracted significant investments for domestic manufacturing of high-value verticals like cancer care equipment and imaging devices. These financial incentives are directly effectively reducing the country's heavy import dependency and encouraging the establishment of large-scale greenfield facilities. In addition, the development of dedicated Medical Device Parks in states like Andhra Pradesh, Telangana, and Uttar Pradesh is providing a robust ecosystem.
These parks offer common testing facilities and logistical support, drastically reducing the capital expenditure (CAPEX) burden for new entrants and SMEs. Furthermore, the rising burden of chronic lifestyle diseases—such as diabetes and cardiovascular ailments—is creating a sustained, high-volume demand for therapeutic and monitoring devices across the country. This organic demand is further supported by increased healthcare accessibility through government insurance programs like Ayushman Bharat, which is expanding the addressable market for medical technologies beyond metropolitan hubs into Tier-2 and Tier-3 cities, ensuring a long-term upward trajectory for the sector.
For more information, visit the India Medical Devices Market: https://www.imarcgroup.com/india-medical-devices-market
Market Segmentation
Type Insights:
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 Developments & News
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302
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 trends , share, growth, and research of the industry.
Note: “We are currently updating our reports to the 2026–2034 period. If you need the latest data, information, and industry insights, please click on “Request Free Sample Report”
Key Trends:
The India Medical Devices Market is currently undergoing a structural transformation, shifting from a historical reliance on imported high-end equipment to becoming a global hub for cost-effective, innovation-driven manufacturing. A dominant trend is the rapid integration of Artificial Intelligence (AI) and Internet of Things (IoT) into diagnostic tools; Manufacturers are increasingly launching "smart" wearable devices—such as continuous glucose monitors and remote ECG patches—that cater to the rising demand for preventative home healthcare.
Additionally, the industry is witnessing a "Make for the World" paradigm shift. Domestic players, previously focused on low-tech consumables like syringes, are now moving up the value chain to produce complex Class C and D devices, including orthopedic implants and radiology equipment, specifically designed for export to emerging markets in Africa and Southeast Asia. Moreover, the concept of "Frugal Innovation" is gaining traction, where global MNCs are utilizing their Indian R&D centers to engineer affordable, portable diagnostic kits tailored for low-resource settings. This localization strategy not only addresses the price sensitivity of the Indian rural market but also positions India as a critical alternative in the global supply chain diversification strategy.
Grab a Free sample PDF of this report: https://www.imarcgroup.com/india-medical-devices-market/requestsample
Market Growth Factors
The robust expansion of the India Medical Devices Market is fundamentally catalyzed by the government's ambitious Production Linked Incentive (PLI) schemes, which have successfully attracted significant investments for domestic manufacturing of high-value verticals like cancer care equipment and imaging devices. These financial incentives are directly effectively reducing the country's heavy import dependency and encouraging the establishment of large-scale greenfield facilities. In addition, the development of dedicated Medical Device Parks in states like Andhra Pradesh, Telangana, and Uttar Pradesh is providing a robust ecosystem.
These parks offer common testing facilities and logistical support, drastically reducing the capital expenditure (CAPEX) burden for new entrants and SMEs. Furthermore, the rising burden of chronic lifestyle diseases—such as diabetes and cardiovascular ailments—is creating a sustained, high-volume demand for therapeutic and monitoring devices across the country. This organic demand is further supported by increased healthcare accessibility through government insurance programs like Ayushman Bharat, which is expanding the addressable market for medical technologies beyond metropolitan hubs into Tier-2 and Tier-3 cities, ensuring a long-term upward trajectory for the sector.
For more information, visit the India Medical Devices Market: https://www.imarcgroup.com/india-medical-devices-market
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
- Hospitals and Ambulatory Surgery Centers (ASCs)
- Clinics
- Others
- North India
- South India
- East India
- West India
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 Developments & 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 JP Nadda.
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302