Sector Snapshot · Healthcare Equipment & Supplies

India's Medical Devices Market Set to More Than Triple

A fast-read primer on India's medical devices and healthcare equipment sector — the backdrop against which we benchmark every company's cost structure in this category.

US$50.1 bn

Medical devices market size by 2030

1.6%

India's share of the global medical device market

US$4.01 bn

Medical device exports, FY25

US$20 bn

Medtech export target by FY30

100%

FDI allowed in medical devices

Market Size and Exports Are Both Scaling

The domestic market is set to more than triple by 2030, alongside steadily rising exports.

Medical Devices Market (US$ billion)

2025 → 2030 forecast

$15.2bn

2025

$50.1bn

2030F

Medical Device Exports (US$ billion)

FY22 → FY25

$2.92bn

FY22

$4.01bn

FY25

What's Pushing the Sector Forward

Rising demand, export growth, and strong policy support define the category.

Rising Demand

Market to grow from $15.2bn (2025) to $50.1bn by 2030

Export Growth

Exports surged 88% between FY19 and FY25, to Rs31,120cr

Policy Support

National Medical Devices Policy, 2023
100% FDI allowed in the sector

Recent Developments

A sample of the industry-wide and policy moves shaping the sector through early 2026.

→ Medical devices exports rose from US$2.92bn (FY22) to US$4.01bn (FY25).
→ The PLI scheme recorded Rs12,344.37 crore in sales, including Rs5,869.36 crore in exports, by September 2025.
→ India's domestic production share of medical devices rose from 10% to 30% of domestic requirement in five years.
→ Three new medical device parks and a Rs5,000 crore PRIP Scheme are set to launch in 2026.
→ The India-US interim trade agreement cuts tariffs to 18%, boosting exports and competitiveness.
→ Medical device exports rose 9.5% YoY to US$782 million in FY25.

Companies We Benchmark in This Sector

Listed Indian Healthcare Equipment & Supplies companies in tDoBe's cost-benchmarking coverage.

Poly Medicure

Fischer Medical

Tarsons Products

Laxmi Dental

Q-Line Biotech

Vasa Denticity

OSEL Devices

Hamant Surgical

Provest Donpro

Nuroca

Aprameya Engineering

QMS Medical

Vaidya Sane

Earkart

Avience Biomedical

Choksi Asia

Mohini Health

Royal Sonic

See How These Companies Compare on Cost

The numbers above set the stage. Our Report translates it into a company-by-company cost benchmark — down to the category — so you can see exactly where a business sits against its peers.

Explore the Healthcare Equipment & Supplies Report

Compiled from public government and industry sources, February 2026 update · Figures rounded · tDoBe sector snapshot, for informational purposes