From prognosis to diagnosis, from safe delivery to critical brain & cardiac bypass surgery, from simple fracture to complex knee implantation, advancements in MedTech industry across the world has supported the medical fraternity to save lives and better the conditions of living. In India, the land of Susruta, Med Tech is considered a strategic sector and the Government of India is invested in its growth.
Driven by policy backing, cost advantages and capital inflows the sector is currently valued at approximately $16–20 billion with $4 billion in exports. From consumables to a number of high-end medical equipments are manufactured in the country. Domestic manufacturing jumped from about Rs 39000 Cr in 2019-20 to over Rs 80,000 Cr in 2025-26.
Indian Medtech sector has had good presence of multinational companies from USA and Europe, manufacturing imaging & diagnostic equipment since a number of years. Now in the last decade, Indian companies have also entered the radio-diagnostic and radiotherapy equipment manufacturing. Further, the growth of the sector has been wide spread and expanding to tier 2 and tier 3 cities also.
Some of the distinctive MedTech Products Manufactured in India
|
Company |
Major Products |
Primary Manufacturing Plant |
|
Meril Life Sciences |
Heart valves, stents, robotics, IVD |
Vapi, Gujarat |
|
Poly Medicure Ltd. |
IV cannula, infusion therapy, dialysis |
Faridabad, Haryana |
|
Transasia Bio-Medicals |
Clinical chemistry, hematology, IVD analysers |
Daman & Uttarakhand |
|
Trivitron Healthcare |
Imaging, laboratory diagnostics, ICU equipment |
Chennai, Tamil Nadu |
|
Allengers Medical Systems |
X-ray, C-arm, cath lab, radiology equipment |
Mohali, Punjab |
|
Skanray Technologies |
Ventilators, anaesthesia workstations |
Mysuru, Karnataka |
|
Appasamy Associates |
Ophthalmic microscopes, phaco systems, IOLs |
Chennai, Tamil Nadu |
|
Agappe Diagnostics |
Clinical chemistry reagents |
Kochi, Kerala |
|
BPL Medical Technologies |
ECG, patient monitors, defibrillators |
Bengaluru, Karnataka |
|
J. Mitra & Co. |
Rapid diagnostic kits, ELISA |
Okhla Industrial Area, New Delhi |
|
G. Surgiwear |
Absorbable sutures, meshes |
Shahjahanpur, Uttar Pradesh |
|
Biorad Medisys |
Orthopaedic Implants – knee, hip replacement system |
Pune, Maharashtra |
|
Panacea Medical Technologies Pvt. Ltd. |
Linear Accelerators (LINAC), Cobalt-60 Teletherapy Systems, Brachytherapy Systems, Radiotherapy Accessories |
Bengaluru, Karnataka |
Medical devices are the key items of capital investment as well as operating expenses in hospitals, clinics and diagnostic labs. Share of domestic demand more than doubled from 20% in 2022 to 45% in 2025, growing at an annual rate of over 40%. The industry has the potential to reach $30 billion by FY2030, capturing a 10–12% global market export share by 2047.
Government is actively encouraging Domestic companies to target import-dependent segment. Under PLI Scheme for medical devices 27 greenfield projects have been commissioned and 55+ products are manufactured. Under Medical Devices Park Scheme, three parks across Greater Noida, UP; Ujjain, MP; and Kanchipuram, TN are expected to be operational by early 2027. The Department of Pharmaceuticals is proposing to fast-track 8-10 high-value medical devices, like MRI systems and their components, pacemakers, continuous glucose monitoring devices, advanced ultrasound machines etc with extra support via indigenization and research and development.
Key products of MNCs and Indian Companies commissioned under PLI
|
Company |
Products |
|
Envision Scientific Private Limited |
Stents, PTCA Balloon Catheter |
|
GE BE Private Limited |
PET Detector |
|
Nipro India Corporation Private Limited |
Dialyzer |
|
Omron Healthcare Manufacturing India Private Limited |
Automatic Blood Pressure Monitor |
|
Philips Global Business Services LLP |
MRI Coils |
|
Siemens Healthcare Private Limited |
CT Scan and MRI |
|
Varex Imaging Manufacturing India Private Limited |
Digital X-Ray Flat Panel Detector |
The focus now is on deepening value chain localization particularly in high-end medical devices and imaging equipment, by developing a strong component manufacturing ecosystem and increasing domestic value addition from the current level of around 25% to 40–45%, For the long term the Government plans of building an innovation eco system with strong academia-industry linkage through NIPERs. Government, industry and academia collaboration is important because it turns “excellent theories” into enduring capabilities, not mere ideas on paper.
Quality, branding and reputation is a significant factor for not just domestic growth but also to compete globally. There is a need to invest more in to research and development with strong focus on improved safety, enhanced efficacy, increased affordability. In the last 6 years, Government has brought the medical device regulation at par with the global regulatory best practices, With the strengthening of the medical device vertical in the Central Licensing Authority (CDSCO), the quality of regulation would only improve in the days to come.
As the nation marches towards Viksit Bharat@2047, the MedTech sector provides a rather distinct opening to bring together cost gains, innovation, and scalability for sustained momentum. The payoff won’t be limited to better access for affordable healthcare at home; it will also help Indian manufacturers become trusted suppliers across international markets.
India has historically maintained leadership in the consumables and disposables segment of medical devices. Made in India products have found way into countries across the world. Now the roadmap is to build upon India’s potential as a leader in precision engineering and cost-effective medical devices and to establish it as a choice global supplier of quality, affordable medical devices.
(The Author is Secretary, Dept of Pharmaceuticals, Ministry of Chemicals & Fertilisers. Courtesy: PIB)
