India Medical Devices Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of India medical devices Market

The India medical devices market was valued at USD 14.65 billion in 2024, is projected to grow to USD 16.16 billion in 2025, and is expected to reach USD 34.84 billion by 2032, exhibiting a robust CAGR of 11.6% during the forecast period (2025-2032).

India's medical devices sector is one of the fastest-growing segments of its healthcare industry, driven by rising chronic disease prevalence, expanding healthcare infrastructure, and greater access to advanced technologies. The sector encompasses a wide range of equipment used in diagnostics, monitoring, and therapeutic care - from imaging systems and drug delivery devices to wearable and implantable solutions. Increasing healthcare awareness, government reforms, and the rapid development of private hospital networks are propelling the market's growth.

Leading global and domestic companies such as Medtronic, Johnson & Johnson Services, Inc., and GE Healthcare dominate the Indian market, supported by aggressive expansion strategies, local manufacturing initiatives, and the introduction of advanced diagnostic and treatment technologies.

Market Dynamics

Drivers - Rising Burden of Chronic Diseases and Aging Population

The growing prevalence of chronic conditions such as cardiovascular disease, cancer, and diabetes, combined with a rapidly aging population, is significantly increasing the demand for medical devices in India.

According to the United Nations Population Fund (UNFPA, 2023), the population aged above 80 years in India is projected to increase by 279% between 2022 and 2050, underscoring rising healthcare requirements. Similarly, the International Diabetes Federation (2024) reported 89.8 million diabetic adults (aged 20-79 years) in India - a number expected to reach 156.7 million by 2050.

This demographic shift is fueling demand for diagnostic imaging systems, insulin pumps, cardiac monitors, and other chronic-care management devices. Multinational players are responding by expanding their presence in India's growing healthcare ecosystem to meet the rising demand for affordable and advanced devices.

Restraints - Limited Penetration of Advanced Technologies

Despite strong market growth, the adoption of high-end medical technologies such as MRI, CT, and robotic-assisted systems remains low in India. The Ministry of Science & Technology (2023) reported only 4,800 installed MRI systems across the country - highlighting limited penetration relative to population size.

High acquisition costs, inadequate healthcare infrastructure in rural areas, and limited awareness of advanced diagnostic options are key barriers. These constraints particularly affect Tier-III cities and rural regions, where hospitals face funding shortages and operational challenges, slowing market expansion.

Opportunities - Healthcare Infrastructure and Medical Tourism

India's government-led investments in healthcare infrastructure and public insurance programs are creating new opportunities for market players.

The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY), launched in 2018 and expanded through 2024, provides millions of low-income families with access to critical care and life-saving procedures. This initiative has increased demand for diagnostic and surgical devices in both public and private hospitals.

Simultaneously, India's medical tourism sector is witnessing rapid growth, with foreign patients attracted by affordable yet high-quality procedures - from orthopedics and cardiology to dental and cosmetic surgeries. As a result, hospitals are investing in advanced imaging, minimally invasive surgical devices, and precision implants, creating lucrative opportunities for device manufacturers.

Challenges - Shortage of Skilled Professionals

A key challenge lies in the shortage of trained healthcare professionals capable of handling sophisticated medical equipment.

According to the International Journal of Health Technology and Innovation (Nov 2024), India has only 20,000 radiologists for a population of 1.4 billion - significantly below global averages. This shortage restricts the utilization of high-end devices such as robotic surgical systems and AI-based diagnostics, particularly outside major urban centers.

Market Trends

Adoption of Wearable and Implantable Devices

A major trend shaping the India medical devices market is the rapid adoption of wearable and implantable health monitoring devices. Driven by increased health awareness and chronic disease management, demand is surging for continuous glucose monitors (CGMs), smartwatches, ECG monitors, and fitness trackers.

In June 2025, Tracky launched India's first Bluetooth-enabled CGM, marking a significant milestone in digital health monitoring and preventive care. Similarly, implantable devices such as cardiac pacemakers, neurostimulators, and insulin pumps are gaining traction due to their long-term therapeutic benefits and minimally invasive nature.

Segmentation Insights

By Type

The "Others" segment (including home health and respiratory care devices) dominated the market in 2024, reflecting the growing adoption of drug delivery systems, nebulizers, and home monitoring tools for chronic conditions.

In March 2025, Aerogen Ltd. opened its India headquarters in New Delhi, expanding access to its vibrating mesh nebulizer technology for local respiratory care innovation.

The In-vitro Diagnostics (IVD) segment ranked second, fueled by India's rising emphasis on early detection of infectious and chronic diseases like cancer, tuberculosis, and dengue. The rapid expansion of independent and hospital-based laboratories further supports this growth.

By End-user

The Hospitals & Ambulatory Surgical Centers (ASCs) segment dominated the market in 2024, driven by the expansion of hospital networks and growing investment in advanced diagnostic and surgical technologies.

In May 2023, the Rajasthan government approved new satellite hospitals in Jaipur and Chittorgarh, reflecting strong public-sector efforts to enhance healthcare access.

Clinics ranked as the second-largest end-user category, boosted by higher patient awareness, accessibility, and growing use of diagnostic and monitoring devices in outpatient settings.

Regional and Competitive Insights

India's medical devices market is fragmented, featuring both global and domestic players. Multinational companies - Medtronic, Johnson & Johnson, and GE Healthcare - maintain strong positions through localized production and technology partnerships.

Meanwhile, Abbott, BD, and Siemens Healthineers AG are actively collaborating with Indian hospitals to deploy next-generation diagnostic and monitoring solutions.

Key Companies Profiled:

• Medtronic (Ireland)
• Johnson & Johnson Services, Inc. (U.S.)
• GE Healthcare (U.S.)
• Boston Scientific Corporation (U.S.)
• Siemens Healthineers AG (Germany)
• Abbott (U.S.)
• BD (U.S.)
• Stryker (U.S.)
• FUJIFILM Corporation (Japan)

Recent Developments:

• July 2025: AliveCor, Inc. launched the Kardia 12L ECG system in India.
• May 2024: OMRON Corporation and AliveCor partnered to introduce portable ECG devices.
• November 2024: Beurer India launched the GL 22 blood glucose monitor, expanding India's home diagnostics market.
• January 2024: Medtronic partnered with Cardiac Design Labs to launch Padma Rhythms, an external loop recorder for heart monitoring.

Conclusion

The India medical devices market is on a strong upward trajectory, supported by technological advancement, government initiatives, and growing healthcare investments. While infrastructure and workforce challenges persist, increasing medical tourism and digital health adoption will sustain growth through 2032.

Market Size Overview:

• 2024: USD 14.65 Billion
• 2025: USD 16.16 Billion
• 2032: USD 34.84 Billion
• CAGR (2025-2032): 11.6%

Segmentation By Type

• Orthopedic Devices
• Cardiovascular Devices
• Diagnostic Imaging
• In-vitro Diagnostic (IVD)
• Minimally Invasive Surgery Devices (MIS)
• Wound Management
• Diabetes Care Devices
• Ophthalmics Devices
• Dental Devices
• Nephrology Devices
• General Surgery
• Others

By End-user

• Hospitals & ASCs
• Clinics
• Others