For decades India built a world-beating generic-medicine industry — but not the machines and devices of modern medicine. Scanners, implants, catheters and diagnostic kits were mostly imported. Recognised as a 'sunrise sector' after Make in India (2014), medical devices became a policy priority to reduce that dependence.
Medical Devices
Medical Devices
Medical devices — from syringes and stents to MRI scanners and ventilators — are a fast-growing but heavily import-dependent part of India's healthcare. The market reached about $18 billion in 2024, and the government is pushing hard to make more of it at home. The counter shows the market's growth (illustrative).
$18 bn
Market size (2024)
70-80%
Still imported
22 plants
New factories under PLI
Medical-device market (2024)
| Year | Medical-device market |
|---|---|
| 2014 | 5 $ bn |
| 2016 | 7 $ bn |
| 2018 | 9 $ bn |
| 2020 | 11 $ bn |
| 2022 | 14 $ bn |
| 2024 | 18 $ bn |
| 2026 | 20 $ bn |
2014
0$ bn
Medical-device market
20142026
Since 2014
Added
+15 $ bn
2014
5 $ bn
2026
20 $ bn
Why it matters India imports roughly 70-80% of its medical devices, spending tens of thousands of crores a year abroad. Making them domestically — under Make in India, a dedicated PLI scheme and medical-device parks — would cut costs, secure supply (a lesson from COVID), and build an export industry.
- India's medical-device market reached about $18 billion in 2024 and is growing fast.
- India still imports roughly 70-80% of its medical devices.
- The National Medical Devices Policy (2023) and a Rs 3,420 crore PLI scheme back domestic manufacturing.
- 22 greenfield plants under the PLI scheme have begun producing devices; four device parks were set up.
History
Notable milestone
The government approved a National Medical Devices Policy in 2023 and a Rs 3,420 crore PLI scheme (2022-2027) offering incentives on domestically made high-end devices. Four medical-device parks (in Andhra Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh) were set up to cluster manufacturing.
How it works
The PLI scheme pays a 5% incentive on incremental sales of devices made in India, targeting segments India imports most — imaging (CT, MRI), cancer care, implants and critical-care equipment. Device parks provide ready infrastructure — testing labs, sterilisation, common facilities — so manufacturers can start faster and cheaper.
Outlook
Early results are visible: 22 greenfield plants under PLI have begun production of devices like CT scanners, MRI machines, linear accelerators and dialysers that India once only imported. Global majors — GE, Philips, Siemens — are localising assembly, and the market is projected to keep growing at double digits.
The road ahead
True self-reliance is still years away: even locally assembled scanners rely on imported components like X-ray tubes and detectors, so domestic value addition is only 40-50%. Building the deep supply chain — sensors, medical-grade materials, chips — needs sustained R&D. Whether a PLI 2.0 arrives will shape the next phase.
By the numbers
~$18 billion market (2024), heading toward $30 bn+. 70-80% still imported. National Medical Devices Policy 2023; Rs 3,420 crore PLI (2022-27). 22 greenfield plants producing; 4 device parks. Sources: Dept of Pharmaceuticals, IBEF, PIB.
Source: Dept of Pharmaceuticals / IBEF — India's medical-device market size, 2014→2026. Curve illustrative.