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.

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.

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Medical Devices Market Size 2025-2029

The medical devices market size is valued to increase by USD 223 billion, at a CAGR of 6.5% from 2024 to 2029. Increasing prevalence of diseases will drive the medical devices market.

Major Market Trends & Insights

North America dominated the market and accounted for a 37% growth during the forecast period.
By End-user - Hospitals and ASCs segment was valued at USD 380.90 billion in 2023
By Product Type - Diagnostic devices segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 64.11 billion
Market Future Opportunities: USD 223.00 billion
CAGR : 6.5%
North America: Largest market in 2023

Market Summary

The market encompasses a dynamic and evolving landscape, driven by the increasing prevalence of diseases and the emergence of innovative medical technologies. Core technologies, such as robotics, artificial intelligence, and nanotechnology, are revolutionizing healthcare delivery, while applications span from diagnostics and monitoring to therapy and surgery. Service types and product categories, including medical implants, diagnostic equipment, and therapeutic devices, continue to expand, driven by advancements in materials science and biotechnology. Regulatory bodies play a crucial role in shaping market dynamics, with stringent regulations ensuring safety and efficacy.
For instance, the US Food and Drug Administration (FDA) approved over 4,000 medical devices in 2020 alone. Despite these opportunities, challenges persist, including declining reimbursement and cost containment measures, which impact market growth. Overall, the market demonstrates a robust and continually evolving ecosystem, offering significant potential for innovation and growth.

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

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How is the Medical Devices Market Segmented and what are the key trends of market segmentation?

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

  Cardiovascular
  Orthopedic
  Diagnostic imaging
  Dental
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The hospitals and ascs segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of technologies and applications, with hospitals and Ambulatory Surgical Centers (ASCs) representing a significant and growing sector. Hospitals and ASCs are essential consumers of medical devices, requiring equipment for diagnosis, treatment, and patient monitoring. The market's expansion is fueled by increasing healthcare expenditures from both public and private entities. Approximately 45% of global medical device sales stem from hospitals and ASCs, with this figure projected to reach 48% by 2026. Simultaneously, the market's overall value is anticipated to surge by 12% in the next five years, reaching a total worth of USD675 billion.

Sensor technology, including wearable sensors, plays a pivotal role in this market, enabling remote patient monitoring and minimally invasive procedures. Quality control systems, diagnostic imaging, and medical implants, such as prosthetic limbs, are other key areas of growth. Advanced technologies like artificial intelligence, data analytics, and data encryption are revolutionizing medical devices, enhancing their capabilities and improving patient outcomes. Minimally invasive surgery, risk management, supply chain management, design controls, and patient monitoring are some of the market trends shaping the industry. Signal processing, clinical trials, device sterilization, electrical stimulation, surgical instruments, tissue engineering, regulatory compliance, material science, biocompatible materials, wireless communication, software validation, therapeutic devices, human factors engineering, machine learning, manufacturing processes, drug delivery systems, image processing, and additive manufacturing are all integral components of the market.

In summary, the market is a dynamic and evolving sector, driven by advancements in technology and increasing demand from hospitals and ASCs. With a projected growth of 12% and a total value of USD675 billion by 2026, this market offers significant opportunities for innovation and expansion.

The global sales of homecare medical devices are estimated to be worth USD 172.6 billion in 2025 and are anticipated to reach a value of USD 403.4 billion by 2035.

Attributes	Key Insights
Historical Size, 2024	USD 158.5 billion
Estimated Size, 2025	USD 172.6 billion
Projected Size, 2035	USD 403.4 billion
Value-based CAGR (2025 to 2035)	8.9%

Semi Annual Market Update

Particular	Value CAGR
H1	9.6% (2024 to 2034)
H2	9.3% (2024 to 2034)
H1	8.9% (2025 to 2035)
H2	8.4% (2025 to 2035)

Country-wise Insights

Country	Value CAGR (2025 to 2035)
United States	2.3%
Germany	2.0%
Italy	2.5%
UK	4.6%
India	7.3%
China	6.8%

Category-wise Insights

Product	Value Share (2025)
Wheelchairs	57.4%

By Distribution Channel	Value Share (2025)
Online Retailers	39.5%

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%

India Medical Devices Market is expected to grow during 2025-2031

The India Cardiovascular Devices Market Report is Segmented by Product Type (Diagnostic & Monitoring Devices, Therapeutic & Surgical Devices), Application (Coronary Artery Disease, Arrhythmia & Conduction Disorders, Heart Failure & Cardiomyopathy, and More), End User (Hospitals & Cardiac Centres, Ambulatory Surgical Centres, and More). The Market Forecasts are Provided in Terms of Value (USD).

• 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 India Medical Devices market is projected to be valued at {Market_Size_2024} in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of {CAGR}, reaching approximately {Market_Size_2034} by 2034.

The medical device packaging market is anticipated to expand from USD 14.0 billion in 2025 to USD 22.1 billion by 2035, registering a CAGR of 6.1%.

Metric	Value
Industry Size (2025E)	USD 14 billion
Industry Value (2035F)	USD 22.1 billion
CAGR (2025 to 2035)	6.1%

Semi Annual Market Update

Particular	Value CAGR
H1 (2024 to 2034)	5.8%
H2 (2024 to 2034)	6.0%
H1 (2025 to 2035)	6.0%
H2 (2025 to 2035)	6.2%

Analyzing Medical Device Packaging Market by Top Investment Segments

Material	Market Share (2025)
Plastic	40.7%

Packaging Format	Market Share (2025)
Bags & Pouches	31.5%

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
USA	3.4%
Germany	2.7%
China	6.1%
UK	2.6%
Spain	2.9%
India	6.9%
Canada	3.0%

USD 134.65 Million in 2024; projected USD 491.41 Million by 2033; CAGR 15.62%.

India Neurology Devices Market size was valued at USD 272.5 Million in 2024 and is projected to reach USD 542.97 Million by 2031, growing at a CAGR of 9.0% from 2024 to 2031.

India Neurology Devices Market Drivers

Rising Prevalence of Neurological Disorders: The increasing incidence of neurological disorders, such as stroke, Alzheimer's disease, Parkinson's disease, and epilepsy, is driving the demand for diagnostic and therapeutic devices.

Aging Population: The aging population in India is associated with an increased risk of neurological disorders, further fueling the demand for neurology devices.

Government Initiatives: The Indian government's focus on improving healthcare infrastructure and access to quality healthcare is driving the adoption of advanced medical devices, including neurology devices.

Increasing Awareness and Early Diagnosis: Growing awareness about neurological disorders and the importance of early diagnosis is leading to increased demand for diagnostic tools and devices.

The India Urology Medical Devices 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 and forecasts for the next five years.

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Cardiovascular Medical Devices Market Size 2025-2029

The cardiovascular medical devices market size is forecast to increase by USD 21.71 billion at a CAGR of 7.6% between 2024 and 2029.

The market is driven by the escalating incidence of cardiovascular diseases and the expansion of insurance providers' coverage for related treatments. Market players are responding with innovative business strategies, including product development and strategic collaborations, to capitalize on these opportunities. However, the high cost of cardiovascular procedures poses a significant challenge for both patients and providers, potentially limiting market growth. Artificial intelligence and wireless technologies, such as Al-based electrocardiograms, implantable loop recorders, and event monitors, are also gaining popularity for their ability to improve diagnostic accuracy and patient care.
Effective cost management and continuous innovation will be essential for market success. As the population ages and cardiovascular diseases become increasingly prevalent, companies must navigate this financial obstacle while maintaining quality and affordability to meet patient needs and remain competitive. Companies in this market are focusing on innovative technologies like Al and machine learning based electrocardiogram (ECG) technology to improve the accuracy and efficiency of cardiovascular diagnosis.

What will be the Size of the Cardiovascular 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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The Cardiovascular Devices Market encompasses diagnostic monitoring devices, surgical devices, and cardiology devices used to prevent and manage heart disorders, including cardiomyopathy, heart failure, stroke, and heart-related mortality. According to the World Health Organization, cardiovascular diseases are the leading cause of death worldwide, making this market crucial for addressing healthcare resources and improving patient outcomes. Emerging nations are increasingly investing in advanced cardiovascular devices, such as AI-based ECG technology and minimally invasive procedures, to reduce fatal conditions like heart failure and stroke. The market is witnessing significant trends, including the integration of artificial intelligence in diagnostics and the development of more sophisticated surgical devices, such as coronary artery stents.

Cardiovascular Diseases, including heart disorders and heart-related mortality, are major health concerns, and the demand for diagnostic monitoring devices, such as Holter monitors, is on the rise. The market's growth is driven by the need for early detection and effective management of cardiovascular conditions, as well as advancements in technology, such as minimally invasive procedures and AI-based electrocardiogram technology. The Cardiovascular Devices Market is expected to continue growing, as healthcare systems in both developed and emerging nations seek to improve patient care and reduce the burden of cardiovascular diseases. With advancements in technology and a growing focus on preventative care, the market is poised for continued growth and innovation.

How is this Cardiovascular Medical Devices Industry segmented?

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

Product

  Diagnostic systems
  Surgical devices


Disease Type

  Coronary artery disease
  Arrhythmia
  Heart failure
  Structural heart disease
  Others


End-user

  Hospitals
  ASCs
  Specialty clinics
  Home healthcare settings
  Rehabilitation centers


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Product Insights

The Diagnostic systems segment is estimated to witness significant growth during the forecast period. The market encompasses a vast array of technologies and devices designed to diagnose, monitor, and treat heart disorders and diseases. This market includes innovative solutions such as AI-based electrocardiogram (ECG) technology, implantable loop recorders, cardiac CT scans, and minimally invasive procedures for detecting clogged arteries and assessing heart function. Valves, pacemakers, stents, Holter monitors, and electrosurgical procedures are among the essential cardiovascular devices used for treating various heart conditions. The World Health Organization reports that cardiovascular diseases (CVDs) are the leading cause of heart-related mortality worldwide. Fatal conditions like atrial fibrillation, stroke, and heart attacks n

USD 906.02 Million in 2024; projected USD 1725.44 Million by 2033; CAGR 7.4%.

India Precision Medical Device Market is projected to grow around USAD 3.6 billion by 2031, at a CAGR of 13.2% during the forecast period.

India Precision Medical Devices Market is projected to grow around USD 3.6 billion by 2031, at a CAGR of 13.2% during the forecast period.

The India General Surgical Devices Market Report is Segmented by Product (Handheld Devices, Laparoscopic Devices, Electrosurgical Devices, Wound-Closure Devices, Trocars & Access Devices, and Other Products), Application (Gynecology & Urology, Cardiology, Orthopedic, Neurology, Gastro-Intestinal & Hepato-Biliary, and Other Applications). The Market Forecasts are Provided in Terms of Value (USD).