The India medical devices market is projected to grow at a CAGR of 7.60% during 2027–2032. Therapeutic devices lead the market, while monitoring devices are expected to register the fastest growth.
Hyderabad, India, Oct. 29, 2026 (GLOBE NEWSWIRE) -- The India medical devices market size was valued at USD 18.30 billion in 2026 and is projected to increase from USD 19.73 billion in 2027 to USD 28.46 billion by 2032, registering a CAGR of 7.60% during the forecast period (2027–2032), according to the latest report by Mordor Intelligence. Market growth is supported by rising demand for diagnostic and therapeutic equipment, expanding healthcare infrastructure, and increasing requirements for chronic disease management. Government initiatives promoting domestic medical device manufacturing, investments in healthcare facilities, and the adoption of advanced medical technologies are further supporting market development.
The India medical devices market is evolving as hospitals, clinics, diagnostic centers, and home-care providers expand their equipment requirements. Medical devices support a broad range of healthcare activities, including disease diagnosis, patient monitoring, surgical procedures, and treatment delivery. Manufacturers are responding to changing clinical requirements through product innovation, expanded local production, and the development of connected healthcare technologies. Government incentives for domestic manufacturing are also creating opportunities for Indian producers to strengthen supply capabilities, while regulatory compliance, pricing pressures, and reliance on imported components remain important considerations.
India Medical Devices Market Share by Region
East and Northeast India are expected to register the fastest regional growth, driven by expanding healthcare infrastructure, rising demand for diagnostic services, and investments in medical facilities. Improvements in access to healthcare and the development of hospitals and diagnostic centers are creating opportunities for medical device suppliers across the region.
North India remains an important market, supported by large healthcare networks, expanding hospital capacity, and growing demand for advanced clinical equipment. Investments in tertiary-care facilities and diagnostic infrastructure are expected to support demand across medical imaging, monitoring, and therapeutic devices.
West and Central India contribute to the market through established private healthcare providers, medical device manufacturing clusters, and demand from hospitals and diagnostic centers. Industrial development and investments in local production are also supporting the region's role in India's medical devices ecosystem.
“India’s medical devices market is benefiting from growing healthcare requirements, continued investment in domestic manufacturing, and increasing demand for advanced clinical equipment. Manufacturers that combine product innovation with reliable local supply and service capabilities are positioned to address evolving needs across hospitals, clinics, and community-based care,” says Soumya Goud, Senior Research Manager, Mordor Intelligence.
India Medical Devices Market Trends & Forecast
Rising Chronic Disease Burden Expands Demand for Medical Equipment
The growing need to diagnose and manage chronic conditions is supporting demand for medical devices across India. Cardiovascular disease, diabetes, and other non-communicable diseases require equipment for screening, diagnosis, monitoring, and treatment. Cardiology accounted for 24.01% of therapeutic application revenue in 2026, making it the largest application segment. Neurology is projected to register the fastest growth, with a CAGR of 9% during 2027–2032, reflecting increasing demand for specialized neurological assessment and treatment technologies.
Government Incentives Strengthen Domestic Medical Device Manufacturing
Government initiatives promoting local manufacturing are creating opportunities for medical device producers to expand production and strengthen supply capabilities. Production-linked incentive programs and investments in medical device manufacturing infrastructure are intended to encourage domestic production of selected equipment and reduce reliance on imports. Continued development of local manufacturing capabilities may improve supply availability, support innovation, and create opportunities for companies serving India's expanding healthcare sector.
Healthcare Infrastructure and Digital Adoption Create Growth Opportunities
The expansion of hospitals, clinics, and primary healthcare services is increasing demand for equipment across multiple clinical functions. Hospitals accounted for 65.13% of medical device revenue in 2026, reflecting their central role in delivering complex treatment and inpatient care. Clinics are projected to be the fastest-growing end-user segment, with a CAGR of 9.2% during 2027–2032. The growing use of remote monitoring, telemedicine, and digital clinical systems is also creating opportunities for connected equipment and technologies that support assessment beyond traditional hospital settings.
India Medical Devices Market Segmentation Overview
The India medical devices market is segmented by device type, technology platform, therapeutic application, and end user.
By Device Type
- Diagnostic Imaging Devices
- Therapeutic Devices
- Surgical Devices
- Monitoring Devices
- In-Vitro Diagnostics (IVD)
- Assistive and Mobility Aids
- Dental Devices
- Other Devices
By Technology Platform
- Conventional Electro-Mechanical Devices and Disposables
- Wearable and Remote Monitoring
- Telehealth and mHealth
- Robotic Surgery
- 3D Printing
- Augmented and Virtual Reality (AR/VR)
- Nanotechnology
- Other Technology Platforms
By Therapeutic Application
- Cardiology
- Orthopedics
- Neurology
- Ophthalmology
- General Surgery
- Other Therapeutic Applications
By End User
- Hospitals
- Clinics
- Home-Care Settings
- Other End Users
The market segmentation reflects the diverse equipment requirements of healthcare providers across diagnostic, therapeutic, surgical, and monitoring applications. Therapeutic devices held the largest device-type share in 2026, while monitoring devices are projected to grow the fastest. Conventional electro-mechanical devices and disposables led technology platforms, whereas AR/VR technologies are expected to record faster growth. Cardiology represented the largest therapeutic application, while neurology is forecast to expand at the highest rate. Hospitals accounted for the largest end-user share, with clinics expected to grow faster during the forecast period.
For a full breakdown of market dynamics, segmentation insights, regional analysis, and competitive landscape, access the details of the Mordor Intelligence report:
India Medical Devices Market Competitive Outlook
The India medical devices market includes multinational medical technology companies, domestic manufacturers, and specialized suppliers serving hospitals, clinics, diagnostic centers, and other healthcare providers. Competition is shaped by product performance, regulatory compliance, pricing, distribution coverage, manufacturing capabilities, and after-sales service. Established international companies compete across advanced imaging, patient monitoring, cardiovascular devices, and surgical technologies, while Indian manufacturers are expanding their presence through local production and specialized product development.
As the market expands, manufacturers that combine reliable product performance with competitive pricing, domestic supply capabilities, and dependable technical support are positioned to strengthen their competitive presence. Continued investment in advanced equipment, local manufacturing, and connected healthcare technologies is expected to shape competition through 2032.
India Medical Devices Industry Leaders
- Abbott Laboratories
- GE HealthCare
- Koninklijke Philips N.V.
- Medtronic Plc
- Siemens Healthineers
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