The medical devices sector has expanded rapidly, exporting to 187 countries in FY25. Indian manufacturers now produce advanced equipment such as MRI and CT scanners, linear accelerators, cardiac stents, and ventilators. This growth reflects a strategic shift toward sophisticated imaging and life-support technologies, enabling India to compete globally and reduce reliance on imports.
Pharmaceutical Exports and Global Reach
India ranks 11th globally in pharmaceutical exports by value, holding a 3 percent share. Exports of medical devices increased from USD 2.5 billion in FY21 to USD 4.1 billion in FY25, while the pharmaceutical sector achieved a turnover of ₹4.72 lakh crore in FY25. India’s pharmaceutical industry is the world’s third-largest by volume, fulfilling 20 percent of global generics demand, with over 50 percent of exports directed to highly regulated markets like the US and Europe.
Leadership in Vaccine Supply
Beyond generics, India is a global leader in low-cost vaccines, supplying the majority of the world’s DPT, BCG, and measles vaccines. The sector has demonstrated consistent export growth, with a CAGR of 7 percent over the last decade (FY15–FY25), underscoring India’s expanding role in global healthcare and pandemic preparedness.
Future Growth Through Technology and Innovation
The Economic Survey notes that scaling up India’s medical devices sector requires adoption of advanced manufacturing technologies, including AI and 3D printing, and streamlining global certification processes. These measures are expected to strengthen international market access and further integrate India into the global high-tech healthcare ecosystem.