India’s orthopaedic and cardiac implant sector to hit $5b by FY28

Thanks to strong domestic demand and an increase in export presence.

India’s orthopaedic and cardiac implant sector, including exports, is expected to reach up to $5b by FY28, according to a CareEdge Ratings report.

The sector’s expansion is attributed to strong domestic demand and a gradual rise in export presence.

Sales of local implant makers grew at a 28% annual rate over four years to FY24, including 37% growth in exports, outpacing the 12% annual growth of foreign multinational corporations.

Moreover, increasing per capita income, greater healthcare awareness, an ageing population, expanding healthcare infrastructure, and broadening insurance coverage are contributing to growth.

“Ongoing trade and tariff uncertainty, imposition of price caps, regulatory scrutiny, and patent litigations are expected to be key monitorables for the medical implant sector,” the report said.