Mumbai: India was identified as one of the most important medtech demand centres in the world with opportunities in the sector likely to reach $35 Bn by 2030, according to a report by Bain & Company.
The report titled Building Global Champions: The Asia-Pacific Region’s Next Medtech Wave, identified India as APAC’s “access-led innovator”, demonstrating how solutions developed for resource-constrained healthcare settings are increasingly finding global acceptance.
India’s medical device exports reached $4 billion in full year ending 2025, driven by affordability and scalability shown by Indian companies, it added.
Healthcare demand in the country is expected to grow to over $320 billion in the next couple of years at a CAGR of 10 per cent to 12 per cent, creating strong momentum for medical technologies, said the report developed in partnership with the Agency for Science, Technology and Research (ASTAR), Enterprise Singapore (EnterpriseSG), JP Morgan, SG Growth Capital and the Singapore Economic Development Board (EDB).
When it comes to APAC’s share of global medtech demand, the region is expected to reach $132 billion by 2030, growing faster than the global market at 6.9% per year.
“India’s medtech ecosystem is gaining strategic importance among investors, with medtech’s share of healthcare investment increasing from less than 10% prior to 2024 to 15-20% over 2024 and 2025, underscoring growing confidence as the sector shifts towards higher-value innovation,” said Dhruv Sukhrani, Partner and head of Bain & Company’s Healthcare & LifeSciences practice in India.
“As India expands beyond basic medical devices into more advanced technologies, the opportunity now is to channel this momentum into building globally scalable businesses that can compete across international markets,” he added.
