New Delhi: India’s medical devices industry is projected to reach USD 50.1 billion by 2030, registering a CAGR of 26.9 per cent from the present valuation of USD 15.2 billion in 2025, mentioned a report by Rubix Industry Insights on Wednesday.
At the moment, India ranks the fourth-largest medical devices market in Asia and among the many prime 20 globally.
In accordance to the report, progress is being propelled by authorities initiatives equivalent to Nationwide Medical Devices Coverage (NMDP), Manufacturing-Linked Incentive (PLI) Scheme, Scheme for Promotion of Medical Devices Parks, and MedTech Mitra.
The examine assumes better significance within the mild of the Union Funds-FY27’s renewed deal with bio-pharma analysis within the nation.
The report highlights that rising revenue ranges, increasing medical health insurance penetration, growing healthcare infrastructure and the expansion of medical tourism, are boosting demand for each inexpensive mass-use devices and superior options for specialised care.
Medical devices exports have reached USD 4.1 billion in FY25 with the federal government concentrating on to elevate India’s world market share from 1.6% to round 12% within the coming years. The US and Germany are the important thing export locations, whereas the US and China are main import sources.
The examine reveals that regardless of sturdy export efficiency, the sector stays largely import-dependent, with 70-80% of home demand being met by imports, notably for technologically-advanced devices.
As in contrast to exports, imports had been greater than double at an estimated USD 8.6 billion, rising at a 7.1% CAGR over the identical interval.
The report highlighted that India’s export power is in consumables, which accounted for almost 47% of exports between April-September FY25, and reveals India’s strengths in cost-efficient manufacturing, scale manufacturing, and worth competitiveness in low- to mid-technology merchandise.
In distinction, the report says, electro-medical tools accounted for almost 60% of imports, pushed by India’s continued reliance on superior, technology-intensive devices.
The home manufacturing base consists of roughly 800 medical gadget producers in a broad however fragmented industry panorama. The report reveals that the typical deal dimension for PE/VC funding has elevated almost 2.5 instances from $56 million in 2022 to $137 million in 2024.
4 states, particularly UP, Maharashtra, Haryana, and Karnataka are taking part in a crucial function in strengthening the industry by enabling shared infrastructure, expert manpower, and provider networks, notably for small and mid-sized producers, in accordance to the report.
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