The India Medical Devices Market Report is Segmented by Device Type (Diagnostic Imaging, Therapeutic, and More), Technology Platform (Conventional Electro-Mechanical & Disposable, Wearable & Remote Monitoring, and More), Therapeutic Application (Cardiology, Orthopedics, and More), End-User (Hospitals, Clinics, and More), and Geography (North India, South India, and More. The Market Forecasts are Provided in Terms of Value (USD).

In 2022, the market size of medical devices in India reached about ** billion U.S. dollars. Projections indicate that by 2030, this market is expected to expand to around ** billion dollars, with a compound annual growth rate of **** percent.

In 2021, the medical devices market in India had a value of over ***** billion U.S. dollars. By 2027, the market projections reflected a value of over ** billion U.S. dollars with a year-over-year growth rate of around ** percent during the same time period.

Market Size, Trends, Segmentation, and Future Outlook Across Key Sectors Base Year : 2024

The India medical devices market was valued at USD 16.18 Billion in 2024, driven by growing patient population, rising healthcare awareness, and an expanding middle class with increased spending on medical services across the region. It is expected to grow at a CAGR of 5.40% during the forecast period of 2025-2034 and attain a market value of USD 27.38 Billion by 2034.

Medical tourism is also becoming a key growth driver, with India increasingly recognized as a destination for affordable yet high-quality healthcare. This, coupled with the integration of digital health technologies, such as telemedicine and remote monitoring, is expected to provide even greater access to healthcare, not only within India but also for international patients seeking medical treatment. The combination of these factors presents significant opportunities for both domestic companies and international players looking to capitalize on the expanding market. As the Indian medical device market continues to evolve, it will attract more investment and innovation, creating a dynamic environment for growth.

Gain insights into the India Medical Device Market size at USD USD 6.8 Bn in 2023, featuring Leading Players, market share, and growth analysis.

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Medical Devices Market Size 2025-2029

The medical devices market size is forecast to increase by USD 223 billion, at a CAGR of 6.5% between 2024 and 2029. The market is witnessing significant growth, driven by the increasing prevalence of diseases and the emergence of innovative medical technologies. The market is experiencing a surge in demand due to the rising burden of chronic diseases and the growing aging population.

Major Market Trends & Insights

North America dominated the market and accounted for a 37% share in 2023.
The market is expected to grow significantly in Europe region as well over the forecast period.
Based on the End-user, the hospitals and ASCs segment led the market and was valued at USD 430.60 billion of the global revenue in 2023.
Based on the Product Type, the diagnostic devices segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 597.90 Billion
Future Opportunities: USD 223 Billion
CAGR (2024-2029): 6.5%
North America: Largest market in 2023

The market continues to evolve, driven by advancements in technology and the growing demand for innovative solutions across various sectors. Cardiovascular device technology, for instance, has seen significant progress with the development of more efficient and effective stents, leading to a 5% annual growth rate. Surgical instrument design has been revolutionized by surgical robotics systems, enabling minimally invasive procedures and improved therapeutic device efficacy. Three-dimensional printed implants are another area of focus, with biomaterial compatibility testing ensuring optimal patient safety and long-term success. Regulatory device compliance remains a critical factor, as mobile health applications and artificial intelligence diagnostics gain popularity.

What will be the Size of the Medical Devices Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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Advanced medical devices, such as implantable devices and diagnostic equipment, are increasingly being adopted to improve patient outcomes and enhance the quality of healthcare. However, the market faces challenges in the form of declining reimbursement and cost containment measures. Healthcare providers and insurers are increasingly focusing on cost savings, leading to pressure on medical device manufacturers to reduce prices. The clinics segment is the second largest segment of the end-user and was valued at USD 104.10 billion in 2023.

Additionally, regulatory compliance and stringent approval processes pose significant challenges to market entrants. Companies must navigate these challenges by developing cost-effective solutions, focusing on regulatory compliance, and collaborating with healthcare providers and insurers to ensure reimbursement for their products. To capitalize on the market opportunities and stay competitive, companies must invest in research and development to bring innovative products to market and collaborate with healthcare providers to address unmet clinical needs.

Neurological device implantation and in-vitro diagnostic testing are also seeing advancements, with precision medicine devices and machine learning algorithms driving diagnostic accuracy. In the realm of diabetes management systems, remote patient monitoring and wearable health trackers are transforming care delivery. Respiratory device performance and drug delivery systems are being optimized for better patient outcomes. Advanced wound care and rehabilitation device technology are also making strides, with connected medical devices and telemedicine platforms facilitating remote care. The market for implantable devices, such as orthopedic implants, is expected to grow at a steady pace, driven by improvements in implantable device design and device cybersecurity standards.

Biomedical device sterilization methods continue to evolve, ensuring patient safety and reducing the risk of infection. A notable example of market dynamism is the integration of health data analytics into clinical trial protocols and patient safety protocols, streamlining research and improving patient care. Overall, the market is characterized by continuous innovation and adaptation to meet the evolving needs of healthcare providers and patients.

How is this Medical Devices Industry segmented?

The medical devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Hospitals and ASCs
  Clinics
  Others


Product Type

  Diagnostic devices
  Therapeutic devices
  Monitoring devices
  Assistive and rehabilitation devices
  Others


Application

  Cardiovascul

The report covers India Medical Device Market Sector, Leading Players in India Medical Device Market, Major Players in India Medical Device Market.

The global medical device technology market is anticipated to reach a value of US$ 530.14 billion in 2024, as revealed in the recently updated industry analysis published by Fact.MR. The market has been forecasted to increase at 4.9% CAGR and surge to US$ 854.13 billion by the end of 2034.

Report Attribute	Detail
Medical Device Technology Market Size (2024E)	US$ 530.14 Billion
Forecasted Market Value (2034F)	US$ 854.13 Billion
Global Market Growth Rate (2024 to 2034)	4.9% CAGR
India Market Growth Rate (2024 to 2034)	8.6% CAGR
South Asia & Pacific Market Share (2034F)	22.5%
Market Share of Hospitals (2034F)	30.8%
Key Companies Profiled	GE Healthcare; Baxter International; Medtronic Plc.; Abbott Laboratories; Phillips Healthcare; Johnson & Johnson; Cardinal Health; Siemens Healthineers; Boston Scientific Corporation; F. Hoffmann La Roche Ltd.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 171.33 Billion
Growth Rate (2024 to 2034)	4.6% CAGR
Projected Value (2034F)	US$ 268.7 Billion

Attribute	India
Market Value (2024E)	US$ 26.96 Billion
Growth Rate (2024 to 2034)	8.6% CAGR
Projected Value (2034F)	US$ 61.55 Billion

Attribute	Japan
Market Value (2024E)	US$ 32.38 Billion
Growth Rate (2024 to 2034)	2.1% CAGR
Projected Value (2034F)	US$ 40.03 Billion

Category-wise Insights

Attribute	In-Vitro Medical Diagnostic Devices
Segment Value (2024E)	US$ 127.92 Billion
Growth Rate (2024 to 2034)	5.8% CAGR
Projected Value (2034F)	US$ 225.7 Billion

Attribute	Hospitals
Segment Value (2024E)	US$ 153.26 Billion
Growth Rate (2024 to 2034)	5.6% CAGR
Projected Value (2034F)	US$ 263.43 Billion

​India wearable medical devices market size reached USD 1,040 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 4,200 Million by 2033, exhibiting a growth rate (CAGR) of 15.5% during 2025-2033. The growing consumer inclination towards more patient-centric and data-driven approaches, coupled with the emerging trend of health and wellness, is primarily driving the market growth across the country.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 1,040 Million
Market Forecast in 2033	USD 4,200 Million
Market Growth Rate (2025-2033)	15.5%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on device type, product, application, and distribution channel.

The India Urology Market report segments the industry into By Product Type (Stone Management Devices, Benign Prostate Hyperplasia, Erectile Dysfunction, Urinary Incontinence Devices) and By End User (Government Hospitals, Private Hospitals). Get five years of historical data along with five-year market forecasts.

The Indian medical device market offers a wide range of products catering to various medical needs. Orthopedic devices include implants, surgical instruments, and prosthetics for treating bone and joint disorders. Cardiovascular devices encompass stents, pacemakers, and defibrillators for managing heart conditions. Diagnostic imaging devices, such as X-ray machines and MRI scanners, are used for medical imaging and diagnosis. In vitro diagnostic (IVD) devices are employed in laboratory testing and include reagents, analyzers, and test kits. Minimally Invasive Surgery (MIS) devices enable less invasive surgical procedures, reducing recovery time and complications. Other segments of the market include wound management, diabetes care, ophthalmic devices, dental equipment, nephrology devices, general surgery instruments, and others. Recent developments include: 2019:Johnson & Johnson launched ACUVUE Oasys with Transitions, a first-of-its-kind contact lens that adapts to changing light conditions., 2020:Medtronic launched the MiniMed 780G system, an advanced insulin pump system for diabetes management.. Notable trends are: Increasing demand for healthcare services and infrastructure is driving the market growth.

The global wearable medical device industry size is likely to generate sales amounting to USD 38.5 billion in 2024. Over the assessment period from 2024 to 2034, the wearable medical device market CAGR is projected to expand to 8.2%, culminating in a market size of USD 84.8 billion by the end of 2034.

Attributes	Description
Estimated Global Wearable Medical Device Market Size (2024E)	USD 38.5 billion
Projected Global Wearable Medical Device Market Value (2034F)	USD 84.8 billion
Value-based CAGR (2024 to 2034)	8.2%

Country-wise Insights

Countries	CAGR 2024 to 2034
India	18.4%
Singapore	13.1%
France	8%
United Kingdom	7.8%
United States	6.5%

Category-Wise Insights

Segment	Home Healthcare (Application)
Value Share (2024)	63%

Segment	Wearable Therapeutic Medical Device (Product)
Value Share (2024)	55%

In the coming years the Asia Pacific reprocessed medical devices market is expected to reach USD 480.7 million by 2025 and is expected to steadily grow at a CAGR of 5.7% to reach USD 833.5 million by 2035. In 2024, cluster headache syndrome generated roughly USD 457.1 million in revenues.

Metric	Value
Industry Size (2025E)	USD 480.7 million
Industry Value (2035F)	USD 833.5 million
CAGR (2025 to 2035)	5.7%

Country Wise Analysis

Country	CAGR (2025 to 2035)
China	7.6%

Country	CAGR (2025 to 2035)
Japan	3.3%

Country	CAGR (2025 to 2035)
South Korea	6.6%

Country	CAGR (2025 to 2035)
India	8.1%

Country	CAGR (2025 to 2035)
Australia	2.9%

Competitive Outlook

Company Name	Estimated Market Share (%)
Stryker Corporation	(17-18)%
Medline Industries, Inc.	(14-15)%
Johnson & Johnson (Ethicon)	(11-12)%
Medtronic plc	(10-11)%
Other Companies (combined)	(43-44)%

India Wearable Medical Devices Market is driven by advancements in technology, an emphasis on preventive healthcare, and the growing prevalence of chronic diseases.

The India Cardiovascular Devices Market report segments the industry into By Device Type (Diagnostic and Monitoring Devices [Electrocardiogram (ECG), Remote Cardiac Monitoring, and more], Therapeutic and Surgical Devices [Cardiac Assist Devices, Cardiac Rhythm Management Devices, Catheter, and more]).

The India Medical Devices market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

• The industry was valued at US$ 27.6 Bn in 2022
• It is estimated to grow at a CAGR of 6.3% from 2023 to 2031 and reach US$ 47.4 Bn by the end of 2031

Pediatric Medical Devices Market Snapshot

Attribute	Detail
Market Size in 2022	US$ 27.6 Bn
Market Forecast (Value) in 2031	US$ 47.4 Bn
Growth Rate (CAGR)	6.3%
Forecast Period	2023-2031
Historical Data Available for	2017-2021
Quantitative Units	US$ Bn for Value
Market Analysis	It includes segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces Analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2022) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy and recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Product In Vitro Diagnostic (IVD) Devices Cardiology Devices Diagnostic Imaging Devices Anesthesia & Respiratory Care Devices Neonatal ICU Devices Monitoring Devices Telemedicine Home-use Medical Devices End-user Hospitals Diagnostic Laboratories Ambulatory Surgical Centers Others
Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Spain Italy Russia and CIS Japan China India ASEAN Brazil Mexico GCC South Africa
Companies Profiled	Abbott Boston Scientific Corporation Baxter International, Inc. Medtronic Cardinal Health, Inc. F. Hoffmann-La Roche Ltd. GE Healthcare Johnson & Johnson Siemens Healthinners Koninklikje Philips N.V. Stryker Corporation
Customization Scope	Available upon request
Pricing	Available upon request

The antimicrobial-coated medical devices market size is projected to be valued at US$ 1,485.0 million in 2023 and is expected to rise to US$ 5,123.5 million by 2033. The sales of antimicrobial-coated medical devices are expected to register a significant CAGR of 13.2% during the forecast period.

Attribute	Details
Market Estimated Size (2023)	US$ 1,485 million
Market CAGR (2023 to 2033)	13.2%
Devices Market Forecasted Size (2033)	US$ 5,123.5 million

Scope of the Report

Attribute	Details
Growth Rate	CAGR of 13.2% from 2023 to 2033
Base Year of Estimation	2023
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ million and Volume in Units and F-CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis
Key Segments Covered	Device Type Coating Material By Region
Regions Covered	North America Latin America Europe East Asia South Asia The Middle East & Africa Oceania
Key Countries Profiled	The United States Canada Brazil Mexico Germany Italy France The United Kingdom Spain Russia China Japan India GCC Countries Australia
Key Companies Profiled	AST Products Inc. Covalon Technologies Ltd. BASF SE Bio Interaction Ltd. Royal DSM Sciessent LLC Specialty Coating Systems Inc. Hydromer Inc. Dow Chemical Company Biocote PPG Industries, Inc.
Customization & Pricing	Available upon Request

In financial year 2023, the consumable and disposable category emerged as the top segment in India's medical device trade, with an export value of over *********** U.S. dollars. This category significantly contributed to the overall export value of medical devices in the country, which amounted to approximately *** billion dollars in fiscal year 2023.