The MedTech sector in India is projected to reach $20 billion by fiscal year 2027, thanks to a government scheme aimed at boosting domestic manufacturing. This growth is expected to be driven by various factors, including increasing healthcare needs, technological advancements, and government support.
The government’s initiative to promote domestic manufacturing in the MedTech sector is a welcome move that aims to reduce dependency on imports and enhance self-sufficiency. This scheme is expected to not only boost the sector’s growth but also create job opportunities and drive innovation in the industry.
With the rising demand for healthcare services and the increasing adoption of technology in the medical field, the MedTech sector in India is poised for significant growth in the coming years. The government’s support through various initiatives and schemes will play a crucial role in realizing the sector’s full potential and positioning India as a key player in the global MedTech market.
Overall, the future looks promising for the MedTech sector in India, with the government’s focus on boosting domestic manufacturing set to propel the industry to new heights by fiscal year 2027.