India has emerged as a key player in the global medical technology sector by addressing industry challenges and aligning with international standards, according to Minister of State for Health Anupriya Patel. Speaking at Medtekon 2025, organized by the Medical Technical Association of India (MTaI), Patel highlighted the rapid growth and dynamism of India’s MedTech sector.
Growing Demand and Government Support
With rising healthcare demands and continuous technological advancements, the medical technology industry is experiencing unprecedented growth. Patel emphasized the government’s commitment to strengthening India’s self-reliance in this sector. As a result, India now ranks as the fourth-largest medical technology market in Asia, following China, Japan, and South Korea, and is among the top 20 globally.
Industry Growth and Market Expansion
India’s medical technology industry, currently valued at $14 billion, is expected to reach $30 billion by 2030. Additionally, the country’s global market share is projected to rise from 1.65% to 10-12% over the same period. Patel also pointed out India’s strong export performance, with last year’s exports reaching $3.8 billion and showing consistent growth across all five major MedTech segments.
Policy Reforms Driving Progress
The government has introduced several policies to boost the sector. The 2023 Medical Device Policy comprehensively addresses industry needs, while the 2017 Medical Device Rules have improved transparency and global alignment. The digitalization of regulatory processes has further streamlined interactions between stakeholders and regulators.
As reported by economictimes, to expand international markets, the Export Promotion Council for medical devices is actively opening new opportunities, while the restructured Medical Devices Promotion Council fosters collaboration between industry and government.
Investment and Future Potential
India has also encouraged foreign investment by allowing 100% FDI through the automatic route. This policy has led to significant growth in foreign investment within the sector. Patel called for strengthening collaboration between government, industry, and healthcare providers to maximize both domestic and global opportunities.
MedTech as a Strategic Sector
Pavan Choudary, Chairman of MTaI, emphasized the importance of MedTech in uniting nations, particularly during crises like the COVID-19 pandemic. He also stressed its role in national security, warning that compromised medical devices could be exploited by hostile entities.
Patel concluded by reaffirming India’s commitment to transforming MedTech into a force that not only enhances healthcare but also contributes to societal well-being.