India's medical device industry projected to reach $250 billion by - 7th August 2026 - Ministry of Chemicals and Fertilizers :
Department of Pharmaceuticals - Gazette Notification PDF
Read or download the official PDF of this gazette notification issued by the Ministry of Chemicals and Fertilizers :
Department of Pharmaceuticals on 7th August 2026. Classified under Press Release.
Executive Summary
The FICCI-DUA Consulting White Paper, released during the "India Medical Device 2026" session on August 7, 2026, projects India’s medical device industry will reach $250 billion by 2047. The document emphasizes that sustained growth requires a transition from a manufacturing-only focus to a comprehensive ecosystem for servicing, maintenance, and lifecycle management. Key recommendations include the implementation of a risk-tiered maintenance framework and a national certification architecture for service engineers.
Key Points / Main Content
Market Projections and Growth Drivers
The sector is currently valued at $14 billion, with projections of $30–50 billion within the decade and $250 billion by 2047.
Growth is fueled by rising healthcare demand, adoption of advanced technologies, and government support through initiatives like the Production Linked Incentive (PLI) Scheme.
India aims to become a global MedTech hub through indigenous manufacturing and improved global competitiveness.
The Critical Role of Equipment Maintenance
Medical equipment serves as the backbone of modern healthcare, supporting diagnosis, surgeries, and emergency responses.
The value of medical technology extends beyond procurement to reliable servicing throughout its operational lifecycle.
Proper maintenance is essential for improving patient safety, enhancing clinical effectiveness, and optimizing healthcare investments by extending equipment life.
Proposed Regulatory and Operational Frameworks
Risk-Tiered Framework: A proposed maintenance system anchored in the Central Drugs Standard Control Organisation (CDSCO) device classification.
National Standards: Recommendation for a national certification architecture for service engineers and strengthened technical training.
Fiscal and Commercial Reform: A call to rationalise fiscal frameworks to promote compliant maintenance and encourage commercial model innovation.
Digital Integration: Advocacy for digital technologies, including predictive maintenance and digital monitoring, to minimize equipment downtime.
Impact Analysis
Government and Regulatory Bodies (Department of Pharmaceuticals/CDSCO)Impact
Responsible for the oversight and implementation of the proposed national maintenance standards and fiscal rationalization.
Action Required
Establish maintenance protocols based on device risk categories and create a national certification architecture for technical personnel.
Medical Device Manufacturers and Service ProvidersImpact
Shift in focus from purely manufacturing and sales to long-term lifecycle management and servicing.
Action Required
Invest in technical training for service engineers and adopt digital monitoring and predictive maintenance systems.
Healthcare Providers and HospitalsImpact
Affected by the reliability of equipment and the quality of clinical outcomes linked to equipment uptime.
Action Required
Implement the proposed risk-tiered maintenance protocols to ensure patient safety and optimize the lifespan of medical assets.
Key Entities Referenced
FICCI-DUA Consulting White Paper: A report titled ‘Service and Maintenance of Medical Equipment in Indian Healthcare’ that proposes a roadmap for a sustainable medical device maintenance ecosystem.
Central Drugs Standard Control Organisation (CDSCO): The regulatory body whose device classification system is proposed as the foundation for a new risk-tiered hybrid maintenance framework.
Production Linked Incentive (PLI) Scheme: A major government initiative designed to enhance domestic manufacturing capabilities and global competitiveness in the medical device sector.
Strengthening of Medical Devices Industry Scheme: A key initiative aimed at improving domestic manufacturing and the global standing of India's medical device industry.
Department of Pharmaceuticals: The primary government department responsible for organizing 'India Medical Device 2026' and overseeing the sector's development.
Ministry of Chemicals and Fertilizers :
Department of Pharmaceuticals
India's medical device industry projected to
reach $250 billion by 2047: FICCI-DUA
Consulting Report
प्रव तथ: 07 AUG 2026 4:44PM by PIB Delhi
India's medical device industry is expected to emerge as a global powerhouse with a projected market size
of $250 billion by 2047, according to FICCI-DUA Consulting White Paper on ‘Service and
Maintenance of Medical Equipment in Indian Healthcare – Towards a Safe, Reliable and
Sustainable Medical Device Maintenance Ecosystem’ The White Paper released during the inaugural
session of the 9th edition of ‘India Medical Device 2026’, organised by the Department of
Pharmaceuticals in association with FICCI here today says that India's medical device sector, currently
valued at around $14 billion, is projected to reach $30-50 billion within this decade, and likely to reach
$250 billion by 2047. It says rising healthcare demand, increased adoption of advanced medical
technologies, government support for indigenous manufacturing, and the country's ambition to become a
global MedTech hub likely to drive the rapid growth.
According to the White Paper, India has made significant progress through initiatives such as the
Production Linked Incentive (PLI) Scheme and the Strengthening of Medical Devices Industry Scheme,
which have enhanced domestic manufacturing capabilities and improved India's global competitiveness.
However, the report stresses that sustained growth of the sector will depend not only on manufacturing but
also on creating a world-class ecosystem for servicing, maintenance, calibration and lifecycle management
of medical equipment.
The report highlights that medical equipment today forms the backbone of modern healthcare, supporting
timely diagnosis, emergency response, surgeries and advanced treatment. It argues that the value of these
technologies extends well beyond procurement and depends on reliable servicing throughout their
operational lifecycle. Proper maintenance, the report says, improves patient safety, enhances clinical
effectiveness, reduces equipment downtime, extends equipment life and optimises healthcare investments.
To address these issues, the White Paper proposes a risk-tiered hybrid maintenance framework anchored
in the Central Drugs Standard Control Organisation (CDSCO) device classification system. It
recommends maintenance protocols based on device risk categories, creation of a national certification
architecture for service engineers, strengthening technical training, encouraging commercial model
innovation, and rationalising the fiscal framework to promote compliant maintenance practices. The report
also advocates wider adoption of digital technologies, including predictive maintenance, digital
monitoring and lifecycle management systems, to improve equipment reliability and minimise downtime.
The report presents a comprehensive roadmap for creating a safe, transparent and sustainable medical
equipment maintenance ecosystem.
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