The India medical devices market was valued at USD 16.18 Billion in 2024, driven by growing patient population, rising healthcare awareness, and an expanding middle class with increased spending on medical services across the region. It is expected to grow at a CAGR of 5.40% during the forecast period of 2025-2034 and attain a market value of USD 27.38 Billion by 2034.
Medical tourism is also becoming a key growth driver, with India increasingly recognized as a destination for affordable yet high-quality healthcare. This, coupled with the integration of digital health technologies, such as telemedicine and remote monitoring, is expected to provide even greater access to healthcare, not only within India but also for international patients seeking medical treatment. The combination of these factors presents significant opportunities for both domestic companies and international players looking to capitalize on the expanding market. As the Indian medical device market continues to evolve, it will attract more investment and innovation, creating a dynamic environment for growth.
Base Year
Historical Period
Forecast Period
Rising healthcare expenditure and government incentives under the PLI scheme are fueling domestic manufacturing of medical devices.
Growing demand for minimally invasive procedures is accelerating the adoption of advanced surgical and diagnostic technologies across India.
Expansion of private hospitals and diagnostic chains is boosting procurement of high-performance imaging, monitoring, and therapeutic devices.
Compound Annual Growth Rate
5.4%
Value in USD Billion
2025-2034
India Medical Devices Market Outlook
*this image is indicative*
India’s medical devices sector plays a critical role in strengthening the country’s healthcare ecosystem by supporting diagnostics, treatment, and monitoring needs across urban and rural settings. With rising healthcare awareness, expanding hospital infrastructure, and government initiatives like Make in India and the Production Linked Incentive scheme, the industry is witnessing rapid growth. These devices, which include surgical tools, diagnostic equipment, and imaging systems, are vital for enhancing healthcare accessibility, improving patient outcomes, and reducing dependency on imports to ensure a more self-reliant medical infrastructure. The market is expected to grow at a CAGR of 5.40% during the forecast period of 2025-2034 and attain a market value of USD 27.38 Billion by 2034.
New Market Entrants Strengthening Connected Healthcare Ecosystem
The growing trend of remote monitoring and AI-based diagnostics is propelling the market. For instance, in March 2025, a global health technology firm, Omron Healthcare, announced plans to commence full-scale operations in India by early 2025, offering digital blood pressure monitors and remote cardiac monitoring solutions. The launch aligns with rising patient demand for home-based care. This move is expected to significantly strengthen the country’s connected health infrastructure, pushing market value upwards through wider accessibility and preventive care adoption.
Regulatory Advancements to Drive India Medical Devices Market Development
Growing cardiovascular disease prevalence and rising regulatory scrutiny are shaping India’s medical devices landscape. For instance, in March 2022, the CDSCO introduced a new DCGI regulation that reclassifies cardiovascular-related medical devices into appropriate risk-based classes, streamlining compliance under the Medical Device Rules (MDR) 2017. This development is poised to enhance the quality, traceability, and safety of heart-related devices. In the forecast period, clearer classification and regulatory clarity are likely to encourage domestic innovation and foreign investment, boosting market development.
Some of the major market trends include the clinician upskilling and strategic trade interventions.
The market report offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Application
Market Breakup by End User
Market Breakup by Region
Cardiology to Lead the Market Share by Application
Among several application areas, cardiology is poised hold a significant market share. The rising prevalence of cardiovascular diseases creates sustained demand for advanced diagnostic and treatment devices. National health initiatives aligned with WHO’s Global Action Plan for NCDs further stimulate investment and innovation in cardiology technologies. India’s pioneering targets to reduce premature NCD deaths by 25% by 2025 and efforts to cut tobacco use by 30% alongside a 50% reduction in household solid fuel use will boost demand for cardiology devices. These measures not only enhance healthcare infrastructure but also increase patient access to cardiac care, collectively accelerating market expansion.
Northern and Central India are expected to dominate due to the presence of leading government hospitals and strong healthcare infrastructure in cities like Delhi and Lucknow. Eastern India shows moderate growth with improved diagnostics access in states like West Bengal. Western India, led by Maharashtra and Gujarat, benefits from medical tech hubs and industrial clusters. Southern India, including Tamil Nadu and Karnataka, is witnessing rapid expansion through healthcare startups, advanced tertiary care centers, and supportive state-level health initiatives.
The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Headquartered in Dublin, Ireland, Medtronic plc was established in 1949 and is one of the world’s leading medical technology companies. In the India medical devices market, Medtronic offers a wide portfolio spanning cardiovascular, diabetes, neurological, and surgical solutions. Its innovations include pacemakers, insulin pumps, and minimally invasive surgical devices. Medtronic India has significantly expanded its local presence through R&D collaborations and manufacturing, supporting the country's growing demand for advanced and affordable healthcare technologies.
Johnson & Johnson MedTech, a division of Johnson & Johnson headquartered in New Brunswick, New Jersey, was founded in 1886. It operates extensively in India, offering a diverse range of medical devices across orthopedics, surgery, cardiovascular care, and vision. With well-known brands like Ethicon, DePuy Synthes, and Biosense Webster, J&J MedTech plays a key role in India’s surgical innovations and digital surgery ecosystem. The company also focuses on training healthcare professionals and expanding access to quality care.
Fresenius Medical Care AG & Co., headquartered in Bad Homburg, Germany, was established in 1996 through a merger. It is the global leader in dialysis products and services. In India, the company provides a broad range of dialysis machines, dialyzers, and renal pharmaceuticals, supporting patients with chronic kidney disease. Fresenius has established dialysis centers across the country under public-private partnerships, enhancing access to renal care. Its commitment to patient-focused innovations supports India’s growing nephrology segment.
Abbott, headquartered in Abbott Park, Illinois, was founded in 1888 and maintains a strong presence in the market. The company’s Indian portfolio includes diagnostics, cardiovascular devices, diabetes care solutions, and neuromodulation technologies. Abbott is a market leader in glucose monitoring systems and coronary stents. With multiple manufacturing facilities and a robust distribution network, Abbott India supports local healthcare delivery through innovation and accessibility. Its commitment to preventive care and diagnostics aligns with India’s healthcare priorities.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, and 3M Company.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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