Medical Devices in India - Infographic

The size of the Indian medical devices market is estimated at Rs. 90,000 crore (US$ 11 billion) in 2022 and is expected to grow to US$ 50 billion by 2030 with a CAGR of 16.4 %.

Advantage India

Increasing
Demand

*Rising number of medical facilities will boost the demand for medical devices in the market.

*The medical technology sector in India is projected to reach Rs. 4,33,150 crore (US$ 50 billion) by 2030.

*Diagnostic equipment market to reach to Rs. 51,978 crore (US$ 6 billion) by 2027, up from Rs. 34,652 crore (US$ 4 billion) in CY23.

Opportunities
in Export

*India and Russia have set the bilateral trade target at Rs. 260,880 crore (US$ 30 billion) by 2025. Trade is expected to increase by an additional Rs. 43,480 crore (US$ 5 billion) per annum, with opportunities in pharmaceuticals & medical devices, minerals, steel, and chemicals.

*India's medical technology industry is poised to reach exports of up to Rs. 1,69,000 crore (US$ 20 billion) by FY30, according to the Confederation of Indian Industry (CII).

*India’s medical devices industry is seeking a larger footprint in the United Kingdom’s (UK) Rs. 161.16 crore (US$ 18.17 million) medtech market, with an ambition to triple exports to Rs. 2,917-3,493 crore (US$ 329-394 million) by 2030 from Rs. 1,117 crore (US$ 126 million) in 2024.

Policy
Support

*Comprehensive policy support through the National Medical Device Policy 2023, PLI & MDP schemes, cluster assistance, HR development, standards, export promotion, and PPPs is driving growth in India’s MediTech sector.

*Lower GST on medicines and medical devices was announced to make healthcare more affordable, further incentivizing industry growth and expanding access to advanced medical technologies.

*100% FDI is allowed in the medical devices sector In India. Categories such as equipment and instruments, consumables and implants attract the most FDI.

Increasing
Investments

*Union Chemicals and Fertilisers Minister Mr. JP Nadda launched a Rs. 500 crore (US$ 59.24 million) scheme to boost India's medical devices industry, focusing on manufacturing key components, skill development, clinical studies support, common infrastructure, and industry promotion.

*FDI inflow in the medical and surgical appliances sector between April 2000-June 2025 stood at Rs. 27,900.25 crore (US$ 3.96 billion).

*In the Union Budget 2025-26, Rs. 99,858 crore (US$ 11.48 billion) was allocated as a budget for the healthcare sector.

Snapshot Showcase Infographics Reports

Last updated: Nov, 2025

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Medical Devices Clusters

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