India's medical devices market to cross $50 billion by 2030
India's medical devices industry is set to jump from $15.2 billion in 2025 to over $50 billion by 2030, growing at a rapid 26.9% each year.
That ranks India as the fourth-largest medical devices market in Asia and among the top 20 globally.
Government support and rising healthcare access driving growth
A mix of government support—like special policies, funding schemes, and the Scheme for Promotion of Medical Devices Parks and MedTech Mitra—is making it easier for companies to grow.
Plus, more people can afford healthcare thanks to better insurance and rising incomes, while hospitals are upgrading fast.
The government is also backing bio-pharma research in its latest budget.
Infrastructure, talent, and investor interest on the rise
About 800 manufacturers are spread across India, with states like UP, Maharashtra, Haryana, and Karnataka leading the way on infrastructure and talent.
Investors are paying attention too: average deal sizes have jumped from $56 million in 2022 to $137 million in 2024.
Exports are up, but imports still dominate
India exported $4.1 billion in FY25 (fiscal year 2024-25) but still imports twice as much—meeting most local demand that way for now.
Still, this surge shows India's becoming a serious player in the global medical devices market—and there's plenty of room to grow.