India's Medical Device Market: Opportunities for Investors
Explore the booming medical device sector in India, driven by growing domestic demand, government support, and export potential.
Investment Hotspots in India's Medical Device Sector
FDI Opportunities
100% FDI is permitted under the automatic route, facilitating seamless international investments.
Production-Linked Incentive Scheme
The government supports medical device manufacturing with dedicated funding and project approvals for committed investments.
Medical Device Parks
Strategic manufacturing clusters in Noida, Himachal Pradesh, and Tamil Nadu optimize production costs through shared infrastructure.
Key International Investments Fueling Growth
| Company | Investment | Details |
|---|---|---|
| Medtronic | $350 million | Expand R&D and manufacturing in Hyderabad |
| Siemens Healthineers | $157.2 million | New facility in Bengaluru |
| Omron Healthcare (Japan) | $15.5 million | Medical device manufacturing in Tamil Nadu |
Emerging Growth Drivers in India's Medical Device Industry
Growing Demand
Rising healthcare facilities and demand for advanced diagnostic equipment are driving market expansion. The diagnostic equipment market is projected to grow from $4 billion (2023) to $6 billion by 2027.
Tech Innovation
AI-driven healthcare devices are improving diagnostics and patient monitoring, while robotics in surgery and remote healthcare solutions are gaining traction.
Local Manufacturing
Medical device exports are expected to reach $10 billion by 2025, growing at a CAGR of 51%, with increased demand in the US, Germany, and China.
National Medical Devices Policy 2023
Aims to grow the sector from $11B to $50B by 2030.
PLI Scheme Investment
$468.78M allocated to boost domestic manufacturin
Revised Public Procurement Order
Prioritizes local manufacturing to reduce imports.
Medical Devices Promotion Council
Drives market expansion through regulatory reforms.
India's Expanding Role in Global Supply Chains
Cost Reduction
Medical Device Parks Initiative reducing costs and increasing efficiency.
Export Partnerships
Strategic export partnerships with Europe, North America, and Asia.
Research Collaborations
Growing number of research collaborations with global healthcare companies.
Why Invest in India's Medical Devices Market?
Fast-Growing Market
Projected to hit $50 billion by 2030.
Government Support
100% FDI, PLI incentives, and tax benefits.
High Export Potential
Medical device exports expected to reach $10 billion by 2025.
Cost-Effective Hub
Lower costs compared to the US, Europe, and China.
