India’s medical device sector has surged from a $5bn industry in 2020-21 to about $18bn today, driven by government support and rising demand, with the latest Medical Fair India 2026 showcasing the country’s growing role as both a manufacturing hub and export power in MedTech.
India’s medical device industry has expanded rapidly, growing from a $5bn sector in 2020-21 to about $18bn today, as manufacturers, policymakers and trade organisers increasingly frame the business as a strategic part of the country’s healthcare economy rather than a niche offshoot of pharmaceuticals. The shift was a central theme at the opening day of Medical Fair India 2026 in Mumbai, where speakers highlighted the move from reliance on imports towards a larger domestic manufacturing base and greater export capability.
According to India Brand Equity Foundation, the sector’s growth is being fuelled by rising demand for diagnostics and medical technology, while government support through production-linked incentive schemes and other initiatives has encouraged local manufacturing. India Briefing reported that the PLI programme has moved beyond policy intent and into execution, with new manufacturing projects coming online and high-end devices being made domestically for the first time. Industry estimates cited by IBEF point to stronger export prospects as the market matures.
At the fair, Rajiv Chhibber of the Association of Indian Medical Device Industry said manufacturing in India has risen by more than 100% with the support of central and state policy, adding that exports now reach around 187 countries. He argued that the sector should be treated as a distinct technology-driven industry, not simply as a smaller branch of pharmaceuticals, and called for a regulatory approach that recognises the differences between devices and medicines. Chhibber also said pricing, ethical marketing and patient safety need closer attention as companies are encouraged to invest in innovation while keeping products affordable.
Lars Wismer of Messe Düsseldorf Asia said India is emerging as a major MedTech market, both as a buyer and as a supplier. He described the country as increasingly important to global medical technology supply chains and said the fair is intended to create a place where companies can exchange ideas as well as display products. Ajay Kumar Gulati of Messe Düsseldorf India said the event was designed to bring start-ups, small and medium-sized enterprises and established groups onto the same platform, covering technologies ranging from surgical devices and cardiac implants to imaging systems and artificial intelligence.
Medical Fair India’s organisers said the event reflects a broader policy push built around affordability, availability and accessibility, now extended by a fourth “A” for advancements. The 2026 edition, held from 17 to 19 September at the Bombay Exhibition Centre in Mumbai, featured international participation from countries including Brazil, China, Germany, Japan, South Korea and the United States, alongside Indian exhibitors. Organisers said the show drew more than 500 brands, over 18,000 visitors and hundreds of delegates, underscoring the scale of interest in a sector that is increasingly tied to India’s industrial and health policy ambitions.
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