Medical Devices

Government initiatives and industry collaboration are accelerating India’s ambition to become a global medical device hub. Recent developments highlight a focus on both manufacturing and service ecosystems, with the Department of Pharmaceuticals hosting conferences and roundtables to promote domestic production, innovation, and export growth, targeting the $600 billion global market. While the PLI scheme for medical devices has disbursed ₹266.64 crore, FICCI reports project the market to reach $250 billion by 2047, emphasizing the need for world-class maintenance and digital adoption to ensure patient safety and equipment reliability, signaling a long-term growth trajectory for the sector.