Full List of Medical Equipment Manufacturers in India (2024)
by Pharmchoices
In India, medical devices can be classified into five categories. They include diagnostic imaging (MRI, X-ray, Ultrasounds), consumables & disposables (needles and syringes), orthopaedics & prosthetics (knee implants, artificial joints), dental products (dentures, braces), and patient aids (hearing aids and pacemakers). Source:InvestIndia
The Indian medical device sector is the fourth largest in Asia, after Japan, China, and South Korea, and among the top 20 globally. The market size is estimated at $11 Billion and is expected to reach $50 billion by 2025.
There are both local and foreign multinational medical equipment manufacturers in India such as Abbott, Medtronic, B. Braun, Baxter, HMD, Boston Scientific, SMT, GE Healthcare, 3M, Johnson & Johnson, Polymed, Stryker, Philips, Transasia, Siemens Healthineers, Trivitron Healthcare, etc.
There are as many as 800 local medical device manufacturers in India, representing 65% of the total market size. Their innovations include intraocular lenses, cardiac stents, pacemakers, drug-eluting stents, orthopaedic implants, and x-ray machines. During the COVID-19 pandemic, they produced diagnostic kits and medical equipment like PPE kits & N-95 masks, ventilators, RT-PCR kits, IR thermometers, and Rapid Antigen Test kits.
Other items commonly produced by medical equipment manufacturers in India include catheters, perfusion sets, extension lines, needles, syringes, feeding tubes, and cannula.
Medical device parks exist in Telangana, Haryana, Gujarat, Maharashtra, Karnataka, and Andhra Pradesh. There are also initiatives to establish medical device parks in Tamil Nadu, Himachal Pradesh, Madhya Pradesh, and Uttar Pradesh.
Apart from the medical device parks, there are also government initiatives like the ‘Production Linked Incentive (PLI) Scheme for Medical Devices 2020’ to improve the medical device manufacturing capacity in India.
Despite efforts to boost local production in India, medical devices are imported from the US, China, and Germany, and increasingly from Russia. In 2022-23, medical device imports stood at US$ 3.39 billion, while importing products worth US$ 7.49 billion, which could rise to US$ 10 billion by 2025.
