New manufacturing units, product launches and overseas expansion to drive growth. Medical devices manufacturer Poly Medicure plans to double its international business by FY2030 by expanding its product portfolio, strengthening manufacturing capacity, and increasing its presence in global markets.
The company’s international business generated ₹1,280.2 crore in FY26, accounting for nearly 68% of its total revenue of ₹1,875.3 crore. To sustain this momentum, Poly Medicure will commission two new manufacturing facilities and introduce more than 50 new products over the next one to two years. These products will cater to critical care, cardiology, oncology, and vascular access segments.
Emerging Markets Offer Biggest Opportunity
The company sees significant growth potential in emerging markets, particularly the Middle East, Southeast Asia, Africa, and Latin America. While the United States and Europe currently contribute around 35% of export revenue, Poly Medicure believes developing economies will drive the next phase of international expansion.
As reported by The Economic Times, Managing Director Himanshu Baid said India has yet to fully benefit from the global “China-plus-one” manufacturing strategy. However, he remains optimistic that European buyers seeking to diversify sourcing away from China will create fresh opportunities for Indian medical device manufacturers.
India Market to Outpace Exports
Alongside its global ambitions, Poly Medicure expects the domestic market to grow even faster. The company aims to achieve 20–25% annual growth in India over the next four to five years, while exports are projected to grow between 15% and 20%, depending on market conditions.
The company has identified renal care, cardiology, oncology, and critical care as key growth segments. It also expects locally manufactured dialysis products to reduce treatment costs and accelerate the adoption of single-use dialysers across India.
Innovation and Expansion to Fuel Future Growth
Poly Medicure will continue investing in research and development while evaluating strategic acquisitions that strengthen its technology and regulatory capabilities. With an expanding innovation pipeline, new production facilities, and a sharper focus on international markets, the company is positioning itself for sustained long-term growth.