What percentage of the medical device products are consumed locally versus exported?

Posted by Medica Times | Feb 12, 2025 | Pharma | 0 |

India’s medical device industry is characterized by a significant reliance on imports to meet domestic demand, with a substantial portion of locally manufactured devices being consumed within the country. Here’s an overview of the domestic consumption versus export of medical device products:

Domestic Consumption:

High Import Dependence: Approximately 75% of India’s medical device needs are met through imports, indicating a heavy reliance on foreign products to satisfy domestic demand.
Local Manufacturing Focus: The domestic medical device industry primarily produces low-value, high-volume products such as consumables and disposables. This focus results in a significant portion of locally manufactured devices being consumed within the country to meet immediate healthcare needs.

Exports:

Export Growth: India’s medical device exports have been growing steadily, with a compound annual growth rate (CAGR) of 9-11% over the last five years. The export value reached approximately USD 3.4 billion in the fiscal year 2022-23.
Export Projections: The Confederation of Indian Industry (CII) projects that India’s medical technology industry could achieve exports of up to USD 20 billion by 2030, provided there is continued government support and strategic policy interventions.

Product Category Breakdown:

Consumables and Disposables: This category constitutes a significant portion of India’s medical device exports, with an export value exceeding USD 1 billion in fiscal year 2023.
Diagnostics and Imaging Equipment: Approximately 47% of domestically produced diagnostics and imaging equipment are exported, indicating a balanced distribution between domestic consumption and exports.
Instruments and Appliances: About 50% of instruments and appliances manufactured in India are exported, reflecting a substantial international demand for these products.

India’s medical device sector is characterized by a high level of domestic consumption, especially for low-value, high-volume products, due to significant import dependence for advanced medical devices. While exports are growing, a considerable portion of domestically manufactured medical devices is utilized within the country to meet healthcare demands. The government’s initiatives aim to boost domestic manufacturing capabilities, reduce import dependence, and enhance export potential, with ambitious targets set for the coming years.