India Medical Devices Market

Increasing demand for healthcare services and infrastructure is driving the market growth

India has a large and rapidly growing population, which is expected to reach 1.4 billion by 2025. This means that there will be an increasing demand for healthcare services to cater to the needs of the growing population. With advances in medical technology and healthcare services, life expectancy in India has been steadily increasing. This means that there will be a larger elderly population that will require more healthcare services and medical devices. 

Additionally, the Indian government has been increasing its spending on healthcare services, with a focus on providing universal health coverage to its citizens. This has led to an increase in the number of hospitals, clinics, and healthcare facilities across the country. There is an increasing awareness among the Indian population about the importance of maintaining good health and seeking medical attention when required. This has led to a higher demand for healthcare services and medical devices.

Overall, the increasing demand for healthcare services and infrastructure in India is driving the growth of the medical devices market in the country, as more medical devices are required to meet the growing healthcare needs of the population.

Furthermore, the rising prevalence of chronic diseases in India is another major factor driving the growth of the medical devices market in the country. Chronic diseases are long-term health conditions that require ongoing medical attention and management. Some of the most common chronic diseases in India include diabetes, cardiovascular disease, respiratory diseases, and cancer. Rapid urbanization and changing lifestyles have led to a rise in sedentary lifestyles, unhealthy diets, and increasing stress levels. These factors have contributed to the increasing prevalence of chronic diseases in India.

Moreover, the Indian population is aging, with a larger elderly population that is more susceptible to chronic diseases.

According to the World Health Organization (WHO), the proportion of elderly people in India is expected to increase from 7.5% in 2010 to 19% by 2050. The rising prevalence of chronic diseases in India is driving the demand for medical devices that can help in the prevention, diagnosis, and management of these conditions. For example, medical devices such as glucose meters, blood pressure monitors, and respiratory devices are increasingly being used to monitor and manage chronic diseases. Overall, the increasing prevalence of chronic diseases in India is a major growth driver for the medical devices market in the country.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the medical devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, medical devices industry must offer cost-effective items.

Major players in the medical devices market are attempting to increase market demand by investing in research and development operations includes Medtronic, STRYKER, Johnson & Johnson Services, Inc., FRESENIUS SE & CO. KGAA, Koninklijke Philips N.V., Abbott, GENERAL ELECTRIC COMPANY, SIEMENS HEALTHINEERS AG.