India Medical Devices Market Size, Share, Trends and Forecast by Type, End User, and Region, 2025-2033
Market Overview
The India medical devices market size reached USD 18.02 Billion in 2024. The market is expected to grow to USD 30.64 Billion by 2033, exhibiting a growth rate (CAGR) of 6.08% during 2025-2033 driven by factors such as rising healthcare demands, increasing government investments in healthcare infrastructure, advancements in medical technology, an expanding elderly population, and the growing prevalence of chronic diseases. These dynamics are fostering the adoption of advanced diagnostic and therapeutic devices in the country. The report presents a thorough review featuring the India medical devices market outlook, growth, share, trends, and research of the industry.
How AI is Reshaping the Future of India Medical Devices Market
- Apollo Hospitals plans to enhance investment in artificial intelligence (AI) to reduce medical staff workload by automating routine tasks like medical documentation, diagnosis assistance, note transcription, and treatment recommendations.
- AI-driven tools are boosting efficiency and accuracy in diagnostics, contributing to the expansion of imaging services in Tier II and III cities, enhancing accessibility.
- Collaborations such as Krsnaa Diagnostics with Medikabazaar and United Imaging leverage AI technologies to introduce over 30 new imaging centers in smaller cities.
- The Production Linked Incentive (PLI) Scheme supports manufacturing of high-end AI-enabled medical equipment including MRI machines, CT scanners, and mammography systems.
- National Single Window System (NSWS) implementation streamlines regulatory approvals for AI-based medical device imports, reducing bureaucratic obstacles.
- Through government schemes and industry adoption, AI is driving innovation, reducing costs, and improving patient outcomes in India's medical devices sector.
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Market Key Trends:
The India Medical Devices Market is experiencing rapid transformation, driven by healthcare modernization, digital innovation, and rising demand for quality diagnostic and treatment equipment. As the healthcare sector expands across both public and private domains, medical devices are becoming essential in improving accessibility, accuracy, and affordability of care.
Moreover, the post-pandemic era has accelerated adoption of telemedicine, wearable devices, and remote patient monitoring technologies, empowering preventive and personalized healthcare. Additionally, India’s growing focus on indigenous manufacturing under the Make in India initiative is encouraging the production of advanced medical equipment domestically, reducing import dependency.
In addition, the rise of AI-powered diagnostics, robotic-assisted surgeries, and IoT-enabled devices is redefining clinical workflows and efficiency. Home healthcare and portable devices, such as glucose monitors and digital thermometers, are also witnessing strong consumer demand. Furthermore, global collaborations, R&D investments, and increasing regulatory harmonization are elevating product standards and trust. These trends collectively highlight India’s shift toward a tech-driven, patient-centric, and globally competitive medical device ecosystem.
Market Growth Factors
The growth of the India Medical Devices Market is supported by several macroeconomic, regulatory, and demographic factors. The government’s emphasis on expanding healthcare infrastructure through programs like Ayushman Bharat and National Health Mission is significantly boosting demand for medical equipment across hospitals and clinics. Moreover, rising health awareness, increasing chronic disease prevalence, and expanding insurance coverage are creating steady demand for diagnostic and monitoring devices.
Additionally, favorable policies such as the Production Linked Incentive (PLI) scheme and the establishment of dedicated Medical Device Parks are strengthening domestic manufacturing capabilities. In addition, foreign direct investments (FDI) and strategic partnerships with global technology leaders are accelerating innovation and technology transfer. The expansion of digital health records, AI-based imaging, and connected devices is also enhancing clinical precision and data-driven decision-making.
Furthermore, affordability improvements, easy financing options, and government efforts to reduce import tariffs are expanding accessibility across urban and rural healthcare networks. Together, these growth drivers are positioning the India Medical Devices Market for robust and sustainable growth—powered by innovation, policy support, and a growing focus on quality healthcare delivery.
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Market Segmentation
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
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Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Recent Developement & News
- March 2025: Zydus Lifesciences announced plans to acquire an 85.6% stake in French medical devices company Amplitude Surgical for EUR 256.8 million (approximately USD 280 million), aimed at expanding its global medical devices portfolio, particularly in lower-limb orthopedics.
- March 2025: Apollo Hospitals declared intentions to increase investment in artificial intelligence (AI) for automating routine tasks including medical documentation, patient diagnosis assistance, transcription of doctors' notes, and treatment suggestions, aiming to reduce workload for medical staff.
- November 2024: The Indian government launched an INR 500 crore scheme focused on strengthening domestic manufacturing, skill development, clinical research, and infrastructure enhancement in the medical devices sector, hailed as a "game-changer" by Union Health Minister J.P. Nadda.
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