India Medical Devices Market Report 2023: Imports Constitute Around 75% of the Mdical Devices Industry Sales – Forecast to 2027

DUBLIN, Feb. 23, 2023 /PRNewswire/ — The “Medical Devices Market in India 2023″ report has been added to’s offering.

Research and Markets Logo

The medical devices market in India is expected to reach INR 4,358.64 Bn by FY 2027, expanding at a compound annual growth rate (CAGR) of ~41.93% during the FY 2023 – FY 2027 period.

In India, the medical devices industry is small, with a disproportionate reliance on imports and a complex regulatory environment. Imports constitute around 75% of the medical devices industry sales in India.

A range of factors contributes to this high percentage share of imports. To bridge the gap existing in medium – high-end technology products, an increasing number of multinational companies are establishing their presence in India.

Almost all the top 40 global medical device companies today have a presence in the country. The share of multinational firms is around 40% – 50% in consumables and instruments and appliances and 80% – 90% in all other sub-segments. Most multinational companies have their production base outside India and import their products to the Indian market.

Impact of COVID-19:

By the end of 2021, nearly all medical device markets had fully recovered from the initial, significant dip in device sales caused by the pandemic. However, with the increasing number of cases of the Omicron variant, in January 2022, many elective procedures were once again postponed.

But the associated device sales in 2022 were impacted far less than expected compared to the previous year. Financial statements throughout 2022 by some of the largest medical device companies also indicated a strong recovery for most of their business units, although the duration and sustainability of their recent growth remain volatile, as the current rate of global vaccinations and administration of booster shots may struggle to keep off emerging, potentially even more fatal variants of concern, such as the B.1.617.1 variant in India.

Market drivers:

There is a growing prevalence of chronic disorders, including diabetes, cancer, and other infectious diseases, owing to the adoption of sedentary lifestyles and other factors.

Also, healthcare agencies in India are focusing on increasing the diagnosis and treatment rates through growing number of awareness programs. With the rising prevalence and awareness of such conditions among the population in India, the patient population requiring diagnostic procedures and tests is also increasing.

Also, rapid rise in the geriatric population is increasing the demand for ophthalmic and orthopedic procedures due to increasing incidence of impaired vision and joint fractures in the elderly population.

Key challenges of the market:

The medical devices market has witnessed notable growth in the past decade due to new technological implementations and design modifications. However, the devices are expensive, which includes a comparatively higher acquisition cost and maintenance, thereby leading to an overall increased device cost and ownership.

Key Topics Covered:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Global medical devices market – An overview
4.1. Global medical devices market – An overview
4.1.1. Market size and growth forecast (2021 – 2027e)

Chapter 5: Medical devices market in India – An overview
5.1. Medical devices market in India – An overview
5.1.1. Market size and growth forecast (FY 2021 – FY 2027e)

Chapter 6: Impact of COVID-19
6.1. Impact of COVID-19

Chapter 7: Trade analysis
7.1. Trade analysis
7.1.1. Export

  • Value-wise
  • Country-wise

7.1.2. Import

  • Value-wise
  • Country-wise

7.2. Other exports – Based on value

Chapter 8: Government initiatives
8.1. Government initiatives

Chapter 9: Market influencers
9.1. Market drivers
9.2. Market challenges

Chapter 10: Market trends
10.1. Market trends

Chapter 11: Competitive landscape
11.1. Centenial Surgical Suture Ltd.
11.2. Johari Digital Healthcare Ltd.
11.3. Opto Circuits (India) Ltd.
11.4. Philips India Ltd.
11.5. Poly Medicure Ltd.
11.6. B. Braun Medical (India) Pvt. Ltd.
11.7. Becton Dickinson Private Ltd.
11.8. Medtronic, Inc.
11.9. Siemens Healthineers, Inc.
11.10. Wipro GE Healthcare Pvt. Ltd.

Chapter 12: Recent developments

For more information about this report visit

About is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716


Cision View original content:—forecast-to-2027-301754796.html

SOURCE Research and Markets

India Medical Devices Market Report 2023: Imports Constitute Around 75% of the Mdical Devices Industry Sales - Forecast to 2027 WeeklyReviewer

PR Newswire Science News

World Reviewer Staff
World Reviewer Staff
The first logical thought has to be "no way". I'm the World Observer! Ill find and share important news all day.

Latest articles

Earnings Disclosure

WeeklyReviewer earns primarily through affiliates and ads. We don’t encourage anyone to click on ads for any other purpose but your own. We recommend products and services often for our readers, and through many we will earn commissions through affiliate programs.

Related articles