India’s Medical Device Market May Hit USD 250 Bn By 2047: FICCI-DUA Report

New Delhi, Aug 8 (KNN) India’s medical device industry is projected to grow into a USD 250 billion market by 2047, according to a white paper released by FICCI and DUA Consulting. 

The report, unveiled at the 9th edition of India Medical Device 2026 in New Delhi, estimates the sector—currently valued at about USD 14–16 billion—could reach USD 30–50 billion by the end of this decade.

The study attributes this growth to rising healthcare demand, increasing adoption of advanced technologies, policy support for domestic manufacturing, and India’s push to become a global MedTech hub.

Focus on Maintenance Ecosystem

The report emphasises that long-term sector growth will depend not only on manufacturing but also on building a robust ecosystem for servicing, maintenance and lifecycle management of medical equipment.

It notes that proper maintenance is critical for patient safety, operational efficiency and cost optimisation, as it reduces downtime, improves clinical outcomes and extends equipment life.

To address gaps, the paper proposes a risk-based maintenance framework aligned with device classification norms of the Central Drugs Standard Control Organisation (CDSCO). 

It also recommends national certification systems for service professionals, stronger technical training, and wider use of digital tools such as predictive maintenance and remote monitoring.

(KNN Bureau)