India’s Medtech Market Opportunity Could Reach $35 Bn by 2030: Bain Report
Advertisement
According to the report, India's medical device exports reached $4 billion in the financial year ending 2025, reflecting the growing international demand for cost-effective medical technologies developed by Indian companies.
India's medtech market opportunity could reach $35 billion by 2030, supported by expanding healthcare demand, rising exports, and increased investor interest, according to a new report by Bain & Company.
The report, Building Global Champions: The Asia-Pacific Region's Next Medtech Wave, identifies India as the Asia-Pacific region's "access-led innovator," highlighting the country's ability to develop affordable and scalable medical technologies for resource-constrained healthcare settings that are increasingly gaining global acceptance.
According to the report, India's medical device exports reached $4 billion in the financial year ending 2025, reflecting the growing international demand for cost-effective medical technologies developed by Indian companies.
The report projects India's healthcare demand to exceed $320 billion over the next few years, growing at a compound annual growth rate (CAGR) of 10–12%. This expansion is expected to create significant opportunities for the medical technology sector as healthcare providers increasingly adopt advanced diagnostic, monitoring, and treatment solutions.
The study was developed by Bain & Company in partnership with the Agency for Science, Technology and Research (A*STAR), Enterprise Singapore, JPMorgan, SG Growth Capital, and the Singapore Economic Development Board (EDB).
Across the Asia-Pacific region, medtech demand is projected to reach $132 billion by 2030, growing at an annual rate of 6.9%, outpacing the global market, according to the report.
The report also noted a shift in investor sentiment toward India's medtech sector. Medtech's share of overall healthcare investment increased from less than 10% before 2024 to 15–20% during 2024 and 2025, indicating growing confidence in companies developing higher-value medical technologies.
"India's medtech ecosystem is gaining strategic importance among investors, with medtech's share of healthcare investment increasing from less than 10% prior to 2024 to 15-20% over 2024 and 2025, underscoring growing confidence as the sector shifts towards higher-value innovation," said Dhruv Sukhrani.
He added that as India expands beyond basic medical devices into more advanced technologies, the focus will be on building globally scalable medtech businesses capable of competing in international markets.
Stay tuned for more such updates on Digital Health News
