India Diagnostic and Monitoring Devices Market Size and Forecast by Offering, Technology, Clinical Application, Distribution Channel, and End User: 2019-2033

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Industry Assessment Overview

Industry Findings: Manufacturing policy and localized production incentives are the strongest structural driver altering vendor economics and procurement strategies nationwide. India’s revised Production Linked Incentive (PLI) guidelines for medical devices required by the government (Feb-2023) have pushed suppliers to expand local production and adjust pricing models to win larger public tenders. The consequence: buyers increasingly favour suppliers that can show local capacity and shorter lead times, accelerating adoption of made-in-India instruments and consumables.

Industry Progression: The clearest near-term commercial movement was the formal approval list under the PLI scheme that converted applicants into incentive recipients (Nov-2023), catalysing factory investments and rapid capacity scale-up by selected manufacturers. That Nov-2023 conversion materially reduced lead times for several classes of reagents and imaging spare parts in domestic supply chains, improving procurement predictability for state hospitals and large private chains.

Industry Player Insights: Indian industry shifts are guided by Siemens Healthineers, Trivitron Healthcare, BPL Medical Technologies, and Roche Diagnostics etc. Domestic capability build is evident: Trivitron launched and certified new CT manufacturing and radiation-protection lines (Jul-2023) while BPL inaugurated a second plant in Bengaluru (Oct-2024), demonstrating tangible localization; Siemens and Roche continue to localise service and consumables. Collectively these moves strengthen local supply resilience and tilt tenders toward vendors with Indian manufacturing and regulatory approvals.