India’s orthopaedic and cardiac implant sector is expected to grow significantly, reaching a market size of USD 4.5 to 5 billion by FY2027–28, according to a new report by CareEdge Ratings. This marks a substantial rise from the estimated USD 2.4 to 2.7 billion recorded in FY24, and reflects a compound annual growth rate (CAGR) of 15–16%.
The growth is being driven by several demand-side factors, including rising per capita income, increased healthcare awareness, an ageing population, expanding healthcare infrastructure, and broader insurance penetration.
Domestic players gaining momentum in a traditionally import-heavy sector
While foreign multinational corporations (MNCs) have historically dominated the implant segment—largely by importing and distributing high-tech devices—Indian manufacturers are rapidly narrowing the gap. Over the last four years, domestic firms have registered a 28% CAGR in sales, including 37% CAGR in exports, compared to just 12% CAGR for foreign MNCs.
Also read: Remidio’s AI Tools for Glaucoma, AMD Get CDSCO Nod
This shift is credited to the price competitiveness of Indian firms, growing evidence of product efficacy, and greater integration with government-sponsored insurance schemes. These advantages have led to higher sales volumes for domestic entities and expanding opportunities in both domestic and international markets.
Pharma majors and policy support drive industry momentum
Large pharmaceutical players like Zydus Lifesciences and Alkem Laboratories have announced strategic investments in implant manufacturing and distribution, further validating the segment’s potential. According to CareEdge Ratings, the sector is well-aligned with India’s broader goal of achieving Atmanirbharta (self-reliance) in critical healthcare components.
The report also highlighted the need for sustained policy support and careful monitoring of trade conditions, regulatory frameworks, price controls, and patent-related challenges that could impact the pace of growth.
As India strengthens its manufacturing capabilities and exports in this high-tech healthcare segment, the domestic implant industry is poised to become a significant contributor to both economic and public health outcomes.
