Medical Devices Industry in India

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

* The Indian medical device market is driven by 70-80% imports from countries such as the US, China and Germany.

* 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).

Policy
Support

* In November 2023, six strategies have been formulated as part of National Medical Policy to maximize the sector's potential, along with a detailed action plan for their execution.

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

* In May 2023, Export Promotion Council for Medical Devices was established under the Department of pharmaceuticals, with its headquarters in Noida.

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 stood at Rs. 25,959.25 crore (US$ 3,735.93 million) between April 2000-September 2024.

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

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Last updated: Apr, 2025

Transasia Bio-Medicals Ltd

Established in 1979, Transasia Bio-Medical Ltd. is a leading in-vitro diagnostic company. The company offers products and services across sectors including biochemistry, haematology, coagulation, ESR, immunology, urinalysis, critical care, diabetes management and microbiology. It manufactures blood-analysers and reagents. Transasia is a part of the Erba Mannheim GmbH Group, a Germany-based IVD solution provider. Its products are exported to countries such as Italy, Germany, France, Australia, China, Turkey, USA, Latin America, Africa, Russia, Middle East, SAARC, and Asia.

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Medtronic India Pvt. Ltd

Medtronic India Pvt. Ltd. began operations in India in 1979. It is the wholly owned subsidiary of Medtronic Plc, an American Irish medical devices company. The company has presence across India in cities such as Mumbai, Ahmedabad, Bangalore, Chennai, Cochin, Dhaka, Gurgaon, Hyderabad, Kolkata, New Delhi, Pune, and Vadodara. Its business is categorised into four segments, namely the Cardiac and Vascular Group (CVG), the Restorative Therapies Group (RTG), the Diabetes Group and the Minimally Invasive Therapies Group (MITG). The company has research and development (R&D) facilities in Bangalore and Hyderabad.

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Johnson & Johnson

Established in 1957, Johnson & Johnson is a leading healthcare manufacturer in the world. The company offers products across three business segments as follows:

Medical Devices: With presence in this category for over 60 years, it is the leading medical devices company in India with products dedicated to addressing unmet needs in the fields of orthopaedics, cardiovascular disease, coronary artery disease, peripheral vascular and obstructive disease, neurovascular disease, arrhythmias, diabetes care, bariatric and metabolic surgery, cancer surgery, vision care, general surgery, urologic surgery, hernia surgery and infection prevention.

Pharmaceuticals: Johnson & Johnson’s pharmaceutical reach is spread across medical fields of oncology, immunology, neuroscience and analgesia, dermatology, infectious diseases, and metabolic diseases.

Consumer Healthcare: Johnson & Johnson offers consumer healthcare products in baby care, feminine hygiene, face care, OTC, oral care, and wound care. The company has some iconic brands in this segment such as Johnson’s Baby, Stayfree, Clean & Clear and BAND-AID.

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