India has set an ambitious target to grow its medical devices market to $30 billion by 2030, as the government works to strengthen the country’s healthcare manufacturing ecosystem and boost exports. The goal was highlighted during a ‘Chintan Shivir’ on strengthening India’s medical devices export ecosystem, organised by the Department of Commerce in collaboration with the Department of Pharmaceuticals and the Export Promotion Council for Medical Devices.

Officials said the medical devices sector is becoming an increasingly important part of India’s healthcare and manufacturing landscape. With rising global demand for affordable and high-quality healthcare technologies, India is positioning itself as a reliable manufacturing and export hub for medical equipment.

Medical device exports cross $4 billion

According to government data, India’s medical device exports crossed $4 billion in FY2025, reflecting steady growth in the sector. Authorities believe that expanding manufacturing capacity and improving global competitiveness will play a key role in achieving the $30-billion target.

Currently, the Indian medical devices sector is valued at around $14 billion, but experts say the industry has strong growth potential due to increasing healthcare demand, technological innovation and supportive government policies.

India is also among the top medical devices markets globally and the fourth largest in Asia, highlighting its growing importance in the global MedTech ecosystem.

Focus on innovation and high-value manufacturing

Officials stressed the need to focus on high-value manufacturing, research and development, and innovation in order to expand India’s share in the global medical devices market.

Commerce Secretary Rajesh Agarwal said India should move beyond its reputation as the “pharmacy of the world” and emerge as a global hub for medical technology manufacturing. Increasing investments in research, improving product quality and ensuring regulatory alignment with global standards will be critical to achieving this goal.

Experts also emphasised collaboration between regulators, manufacturers and exporters to address structural challenges in the sector and boost India’s competitiveness in global markets.

Government initiatives boosting growth

Several government initiatives are already supporting the expansion of India’s MedTech industry. These include policies promoting domestic manufacturing, export promotion programmes and infrastructure development such as medical device parks.

Industry experts believe that these initiatives can reduce India’s reliance on imported medical devices and encourage domestic companies to produce advanced healthcare technologies.

Despite strong growth prospects, India still imports a large share of high-tech medical equipment. Strengthening local manufacturing capabilities and encouraging innovation will therefore be essential to reduce import dependence and increase exports.

Rising healthcare demand driving expansion

India’s rapidly growing population, rising healthcare awareness and expansion of hospitals and diagnostic centres are expected to drive demand for medical devices in the coming years.

At the same time, global demand for affordable medical technologies is increasing, creating new opportunities for Indian manufacturers in international markets.

With strong government support, increasing investment and growing export potential, the country aims to transform its medical devices industry into a major global MedTech hub by the end of this decade, while ensuring improved healthcare access for millions of people.