Where Indian device exports go, which products win in the GCC, and the registration gates. Sized from published research with a GCC and India lens, for buyers, suppliers and investors.
Where Indian device exports go, which products win in the GCC, and the registration gates. Published estimates normalised to 2025 range from USD 4.0 bn to USD 4.1 bn; the Consulting Wallah central estimate is USD 4.1 bn, growing at about 18% a year to USD 13.1 bn by 2032. Scope differences between publishers explain most of the spread — the comparison table below states each one.
Growth is driven by consumables & disposables are ~47% of exports and India is now a net exporter in this category (Rubix; DoP); pLI scheme: INR 3,420 crore outlay, 21-22 greenfield projects, 54-55 products in production incl. MRI/CT/LINAC (Ministry; India Briefing); uS tariff reduction from 50% to 18% under India-US interim trade agreement (Rubix via BioVoice).
Context that matters for buyers and suppliers: India medical device exports rose 88% from USD 2,138 mn (FY2018-19) to USD 4,014 mn (FY2024-25). Consumables accounted for nearly 47% of India's medical device exports in Apr-Sep FY2025. India exports medical devices to over 125 countries. India's share of global medical device exports is 1.6%; government goal is 10-12%.
The chart shows the Consulting Wallah central estimate: published figures normalised to 2025, median taken, and projected at the median published growth rate. The published range for 2025 is USD 4.0 bn–USD 4.1 bn; differences are mostly scope.
| Publisher (date) | Base value | Forecast | CAGR |
|---|---|---|---|
| Bain & Company (via IANS) (2026-07) — country / India medical device exports; India exports to 125 | USD 4.0 bn (exports, FY2025) (2025) | USD 8 bn (exports) (2030) | >20% |
| Rubix Data Sciences (Industry Insights) (2026-02) — country / India medical devices market and exports; India ho | USD 4.1 bn (exports, FY2025); market USD 15.2 bn (2025) | Market USD 50.1 bn (2030) | 26.9% (market, FY25-FY30); exports ~10% CAGR FY23-FY25 |
| Ministry of Chemicals & Fertilisers (via Digital Health News) (2025-10) — country / official India medical device export value | USD 4,014 mn (exports FY2024-25) (2025) | — () | +88% over six years (from USD 2,138 mn in FY2018-19) |
| India Briefing (Dezan Shira) (2025-12) — country / India medical devices market (not exports) | Market USD 14-16 bn (2025) | USD 30-50 bn (govt/industry projections) (2030) | — |
| Consulting Wallah central estimate | USD 4.1 bn (2025) | USD 13.1 bn (2032) | ~18% |
Source: Publisher pages as listed under Sources; CW estimate as described in Method.
Included: capital equipment, implants, single-use consumables and IVD instruments and reagents. Excluded: pharmaceuticals, hospital IT, commodity PPE where reported separately. Publishers differ on whether IVD and consumables are included.
Shares as reported by the named sources; ranking is more reliable than the exact percentage.
| Segment | Share | Note | |
|---|---|---|---|
| Consumables & disposables | 47% | largest export category; India is a net exporter of consumables & disposables | |
| Electro-medical equipment | 60% | import side, for contrast |
Source: Rubix Industry Insights via BioVoice News, Feb 2026
| Segment | Share | Note | |
|---|---|---|---|
| Consumables & disposables | 27.14% | imports -27.03% | |
| Surgical instruments | 11.26% | imports +21.30% | |
| Electronics equipment | 26.57% | imports -0.61% | |
| Implants | 97.03% | imports +38.53% | |
| IVD reagents | 22.73% | imports -8.95% |
Source: India Seatrade News citing Ministry of Chemicals & Fertilisers (Rajya Sabha reply), Aug 2026
| Axis | Segment | Figure | Note |
|---|---|---|---|
| Export destinations | United States | key destination (share not given) | US tariff on Indian devices cut from 50% to 18% under India-US interim trade agreement |
| Export destinations | Germany | key destination (share not given) |
Source: As listed under Sources.
| Country / region | Figure | Year | Source |
|---|---|---|---|
| India - medical device exports | USD 4,014 mn | FY2024-25 | Ministry of Chemicals & Fertilisers via Digital Health News |
| India - medical device exports | USD 2,138 mn | FY2018-19 | Ministry of Chemicals & Fertilisers via Digital Health News |
| India - medical device imports | USD 8.6 bn (est.) | FY2025 | Rubix Industry Insights |
| India - high-end medical device imports | USD 5.5 bn | 2025 | Bain & Company via IANS |
| India - PLI export sales (cumulative to Mar 2025) | INR 5,002 crore | 2025 | Digital Health News |
| India - PLI export sales (cumulative to Sep 2025) | INR 58.69 bn (~48% of INR 123.44 bn eligible sales) | 2025 | India Briefing |
Source: Sources as named; see Sources and method.
Consulting Wallah works this market from both sides: hospital groups in the UAE, Saudi Arabia, India and Bangladesh as buyers, and manufacturers in India, China, Singapore, Malaysia and the US as suppliers through the Network. Our observation is that registration status, in-country stock and structured quotations decide access in the GCC, while price and distributor reach decide it in India. CW observation
Opportunities we see: govt target to raise India's share of global exports to 10-12% (Rubix); exports forecast to double to USD 8 bn by 2030 at >20% CAGR (Bain); implant exports almost doubled (+97%) over three fiscal years (Ministry).
| Date | Development | Source |
|---|---|---|
| 2024-11 | Scheme for Strengthening the Medical Device Industry launched (8 Nov 2024) with INR 500 crore outlay; five sub-schemes incl. component manufacturing, skilling, clinical studies | Digital Health News / India Seatrade News |
| 2025-03 | PLI cumulative eligible sales reached INR 10,413.40 crore incl. INR 5,002 crore exports; 21 greenfield projects, 54 products | Ministry of Chemicals & Fertilisers via Digital Health News |
| 2025-09 | PLI cumulative eligible sales ~INR 123.44 bn, exports ~INR 58.69 bn; 22 greenfield projects commissioned, 55+ devices in production | India Briefing |
| 2026-02 | Rubix report: India medical devices market USD 15.2 bn (FY25) to USD 50.1 bn by FY30; exports USD 4.1 bn; US tariff on Indian devices cut to 18% | BioVoice News |
| 2026-07 | Bain & Company: India medtech exports hit USD 4 bn in FY25, forecast USD 8 bn by 2030 at >20% CAGR; USD 35 bn India medtech opportunity by 2030 | IANS |
Source: Company and press announcements as named.
Key companies named across the sources; local distributors and implementation partners matter as much as the brand in the GCC and India.
Published estimates normalised to 2025 range from USD 4.0 bn to USD 4.1 bn. Consulting Wallah’s central estimate is USD 4.1 bn in 2025, rising to about USD 13.1 bn by 2032.
Published CAGRs range from 20% to 26.9%; our central case is about 18% a year to 2032.
Poly Medicure, Hindustan Syringes & Medical Devices (HMD), Siemens Healthcare (India PLI), Philips (India PLI), Allengers Medical Systems, Panacea Medical Technologies, BPL Medical Technologies, Trivitron Healthcare among others.
The summary on this page is free to read and share with attribution. The full report is free for hospital leaders and registered Consulting Wallah Network members, and priced on request for others.
The full report (PDF, 40 pages) adds the GCC and India deep-dives, hospital-level benchmarks from the Consulting Wallah Network and the full source tables. Free for hospital leaders and registered network members; otherwise priced on request.
How to read these figures. Published market-size estimates for this market vary widely because publishers define scope differently (software only vs software + services + logistics). Where we show a Consulting Wallah estimate we state the range of published figures it is triangulated from and our scope. Figures marked as reported are quoted from the named source. Nothing here is investment advice.