Synopsis
India is on the verge of becoming a major player in the MedTech industry, with ambitions to double its market size to $30 billion by 2030, as highlighted by Union Minister Anupriya Patel during the MedTekon 2025 event.Key Takeaways
- India's MedTech market is projected to reach $30 billion by 2030.
- Exports in the MedTech sector increased to $3.8 billion last year.
- Innovation and investment are vital for growth.
- 4,000+ health-tech startups need more regulatory support.
- Focus on aligning with global standards is crucial.
New Delhi, Jan 30 (NationPress) India is swiftly positioning itself as a MedTech powerhouse, declared Union Minister of State for Health & Family Welfare Anupriya Patel on Thursday.
While addressing MedTekon 2025, organized by the Medical Technology Association of India (MTaI), she stated: "With the MedTech industry set to double its market size to $30 billion by 2030 and increase its global share from 1.65 percent to 10-12 percent, India is rapidly establishing itself as a MedTech powerhouse."
"Our exports reached $3.8 billion last year, showcasing the sector’s growing manufacturing strength and international competitiveness," she continued.
She emphasized the need to maintain the momentum through innovation, investment, and policy reforms, as these factors will be pivotal in positioning India as a leader in accessible, high-quality medical technology.
The event aimed to set the agenda for enhancing policy, boosting investment, and advancing technology in India’s MedTech sector.
NITI Aayog member Dr. V. K. Paul noted the event was timely for "broadening India’s global reach, encouraging innovation, and fortifying domestic manufacturing."
The expert stressed the necessity for India to establish itself as a global MedTech leader, given the increasing demand for medical devices.
"India’s 4,000+ health-tech startups require increased investment, regulatory assistance, and structured incubation to expand worldwide," Paul remarked, while highlighting the importance of aligning with global regulatory standards.
"By concentrating on innovation, investment, and policy stability, we can solidify India’s role as a leader in affordable, high-quality medical technology," he added.
MTaI Chairman Pavan Choudary underscored the urgency for investment-friendly policies, regulatory consistency, and a robust MedTech infrastructure to address India’s escalating healthcare demands.
