India Medical Devices Market Size, Industry Share, Top Companies Analysis & Report | Get Free Sample Report

According to IMARC Group's report titled "India Medical Devices Market Size, Share, Trends and Forecast by Type, End User, and Region, 2025-2033", The report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

Short Summary:

The India medical devices market reached USD 18.02 Billion in 2024. Looking ahead, IMARC Group expects the market to hit USD 30.64 Billion by 2033, growing at a CAGR of 6.08% during 2025-2033. Growth is driven by rising healthcare needs, strong government investments, advanced medical technology adoption, an expanding elderly population, increasing chronic disease cases, and wider usage of modern diagnostic & therapeutic devices across hospitals and clinics.

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Market Overview:

The India medical devices market is witnessing strong momentum as the country transitions toward technologically advanced and patient-centered healthcare. With rising healthcare expenditure, digitization of hospitals, and favorable government initiatives like Make in India, PLI schemes, and medical device parks, India is rapidly emerging as a global med-tech hub.

Demand for equipment such as diagnostic imaging systems, surgical instruments, critical care equipment, IVD devices, cardiac monitoring tools, orthopedic implants, and wearable health technologies continues to rise. Increased focus on preventive care, telehealth expansion, and rising private hospital investments are further shaping the market landscape.

Moreover, India's growing geriatric population, rising burden of chronic and lifestyle diseases (diabetes, cardiovascular issues, respiratory disorders), and improved insurance coverage are accelerating medical device adoption nationwide. International players are strengthening their presence, while domestic manufacturers are scaling production and innovation, leading to improved affordability and accessibility.

Analyst Commentary: India's medical device ecosystem is moving toward higher value-added manufacturing and innovation. While imports still dominate advanced categories, policy support, R&D investments, and rising private sector participation are changing the landscape. In the coming years, we expect accelerated adoption of AI-powered diagnostics, robotics-assisted surgery, remote monitoring tools, and affordable med-tech solutions designed for emerging markets - making India a competitive player in global healthcare technology.

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Scope and Growth Analysis:

• 2024 Market Size: USD 18.02 Billion
• 2033 Forecast: USD 30.64 Billion
• CAGR (2025-2033): 6.08%

Growth is supported by:

• Rising incidence of chronic and lifestyle diseases

• Government incentives for local manufacturing & med-tech parks

• Growing investments in private hospitals and diagnostic centers

• Increasing awareness of preventive healthcare and early diagnosis

• Rapid adoption of digital health, telemedicine & AI-based diagnostics

• Aging population requiring advanced treatments and care solutions

• Surge in medical tourism fueling demand for modern hospital equipment

• Expansion of health insurance coverage improving access to care

Key Market Trends:

• Shift toward domestic manufacturing supported by PLI schemes

• AI-driven diagnostics and robotic surgery systems gaining traction

• Growing adoption of IoT-enabled remote monitoring and wearable medical devices

• Rising demand for minimally invasive surgical equipment

• Expansion of digital pathology, health data platforms, and tele-ICU solutions

• Increasing presence of global med-tech companies through JVs & partnerships

• Focus on portable and affordable diagnostic devices for rural markets

• Sustainable & biocompatible materials gaining preference in device manufacturing

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Comprehensive Market Report Highlights & Segmentation Analysis:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest India medical devices market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

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

End User Insights:

• Hospitals and Ambulatory Surgery Centers (ASCs)
• Clinics
• Others

Regional Insights:

• North India
• South India
• East India
• West India

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/india-medical-devices-market

Other key areas covered in the report:

• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development

Frequently Asked Questions:

Q1. What is the current size of the India medical devices market?
The market reached USD 18.02 Billion in 2024.

Q2. What is the forecasted growth of the India medical devices market?
It is expected to reach USD 30.64 Billion by 2033, growing at 6.08% CAGR during 2025-2033.

Q3. What factors are driving the market growth?
Key drivers include chronic disease prevalence, technology advancements, government policies, elderly population growth, and increasing hospital investments.

Q4. Which segments are witnessing significant demand?
Diagnostic imaging, IVD devices, cardiac monitoring equipment, surgical & orthopedic devices, and health-wearables are seeing strong growth.

Q5. How is the government supporting the medical devices industry?
Through initiatives like Make in India, PLI schemes, medical device parks, lower import duties, and healthcare infrastructure modernization programs.

Q6. What future technologies will shape the market?
AI-enabled diagnostics, surgical robots, IoT health monitoring, personalized implants, tele-ICU systems, and 3D-printed medical devices.

Q7. Which end-users generate major demand?
Hospitals, diagnostic labs, specialty clinics, home-care settings, and ambulatory surgical centers.

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Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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Updated Date: 05-Nov-2025

Author: Tarang Chauhan

Sources: IMARC Group

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide 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.

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