India's Medical Devices Market Set to Hit $50 Billion by 2025, an Industrial Info Market Brief

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India's market for medical devices is expected to reach $50 billion in value by 2025, as the country's healthcare sector is poised for threefold growth. Currently, India is counted among the top 20 global markets for medical devices and is the fourth-largest in Asia after Japan, China and South Korea.

India's healthcare sector is likely to generate 40 million jobs by next year, according to India's Ministry of Chemicals and Fertilizers, which oversees the Department of Pharmaceuticals. The Indian healthcare sector is expected to see a compound annual growth rate (CAGR) of 22% during 2016-2022, which amounts to a threefold rise.

Industrial Info is tracking more than 670 projects in India's Pharmaceutical & Biotech Industry. Click here for a list of related projects, and see graph below for a breakdown by state.