India Aims To Achieve $30 Billion Medical Devices Market By 2030

(MENAFN- IANS) New Delhi, March 15 (IANS) India’s medical device exports crossed $4 billion in FY25, as the country aims to achieve $30 billion medical devices market by 2030, while leveraging its significant domestic market for scaling, according to senior government officials.

India’s medical devices sector has emerged as a critical component of the country’s healthcare and manufacturing landscape.

With growing global demand for affordable and high-quality medical technologies, India is increasingly positioning itself as a reliable manufacturing and export hub, it was observed during a Chintan Shivir on“Strengthening India’s Medical Devices Export Ecosystem,” organised by the Department of Commerce in collaboration with the Department of Pharmaceuticals and the Export Promotion Council for Medical Devices (EPCMD) here.

The event brought together policymakers, regulators, industry leaders, exporters and sector experts to deliberate on strategies for strengthening India’s global competitiveness in the MedTech sector.

Aman Sharma, Joint Secretary, Department of Pharmaceuticals, highlighted the importance of focusing on the quality of medical devices manufacturing in the country and emphasised that both industry and regulators need to work together towards this objective.

Lav Aggarwal, Additional Secretary and Director General, Directorate General of Foreign Trade (DGFT), highlighted the need to grow faster by addressing structural issues.

He spoke about the role of trade policy measures and export promotion initiatives in expanding India’s presence in global medical devices markets.

Commerce Secretary Rajesh Agarwal emphasised that India must move beyond its identity as the“Pharmacy of the World” to emerge as a global MedTech manufacturing hub.

Noting that India’s medical device exports have crossed $4 billion in FY25, Agarwal highlighted the need to significantly enhance India’s global market share over the next decade with a strong focus on high-value manufacturing, research and development investments, incremental innovation and regulatory harmonisation.

He also emphasised the broader goal of achieving a $30 billion medical devices market by 2030 while leveraging India’s significant domestic market for scaling.

Rajiv Nath, Forum Coordinator, the Association of Indian Medical Devices (AiMeD), emphasised the need for continued government–industry collaboration to address global regulatory challenges and scale domestic manufacturing.

-IANS

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