India's medical devices sector is projected to grow from $12 billion in 2023 to $50 billion by 2030, driven by startup innovation and supportive government policies aimed at reducing import dependence. A new scheme with a Rs 500 crore outlay over three years will enhance domestic manufacturing capabilities.Factors such as rising chronic disease prevalence, an aging population, and increased healthcare access are fueling demand for medical devices. Despite being a major importer, India has the potential to become a key exporter, leveraging its skilled workforce and cost competitiveness.
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