MedTech in Motion: Unlocking India’s Medical Devices Potential

India’s USD 11 Bn medical device market is poised for rapid expansion—expected to reach USD 50 Bn by 2030—fueled by rising healthcare demand, government support through Production Linked Incentive (PLI) schemes, and the development of medical parks. In this report, we outline high-growth segments where foreign manufacturers can localize production, including IVD, diagnostic imaging, prosthetics, and dental devices. With over 63% of the market still import-dependent, India offers a compelling case for local manufacturing, supported by favorable regulations, cost advantages, and a strategic export position to serve the Global South. Explore the evolving opportunities, key growth segments, regulatory trends, and investment rationale shaping India’s emergence as a global MedTech manufacturing hub.