India's medtech sector offers US$ 35 billion opportunity by 2030: Bain & Company
- IBEF
- July 9, 2026
India's medical technology (medtech) sector is projected to offer a Rs. 3,33,235 crore (US$ 35 billion) opportunity by 2030, driven by rising healthcare demand, increasing exports and expanding innovation capabilities, according to a Bain & Company report titled Building Global Champions: The Asia-Pacific Region's Next Medtech Wave. The report estimates that India's medical device exports will grow at a compound annual growth rate (CAGR) of over 20% to reach Rs. 76,168 crore (US$ 8 billion) by 2030, building on exports of Rs. 34,000 crore (US$ 4 billion) recorded in FY25. As India advances towards becoming the world's third-largest economy, the country's healthcare market is expected to exceed Rs. 30,46,720 crore (US$ 320 billion) over the next few years, supported by a 10-12% CAGR. Exporting medical devices to more than 125 countries, India has emerged as a leading access-driven innovator, developing cost-effective technologies suited to resource-constrained healthcare environments while strengthening its position within the Asia-Pacific medtech ecosystem.
The report highlights that India's next phase of growth will be driven by stronger innovation, clinical research, regulatory capabilities and commercialisation, alongside manufacturing expansion. While imports of high-end medical devices stood at Rs. 46,750 crore (US$ 5.50 billion) in FY25, the gap presents significant opportunities for domestic innovation and import substitution. The Asia-Pacific region is projected to account for Rs. 12,56,772 crore (US$ 132 billion) of global medtech demand by 2030, growing at an annual rate of 6.90%, outpacing the global market. India's expanding healthcare infrastructure, skilled talent base and growing research capabilities are expected to position the country as a key global hub for medical technology development and exports. The sector's continued growth is likely to support advanced manufacturing, enhance healthcare accessibility and strengthen India's role in global life sciences and healthcare value chains.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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