India's medical device industry has entered a period of significant momentum. Valued at approximately US$15 billion in 2023, the sector is projected to reach US$50 billion by 2030, driven by domestic demand, government policy support, and growing global recognition of Indian manufacturing quality.
The country already ranks among the top 20 medical device markets globally and fourth in Asia. Exports have grown sharply: in FY2025, India's medical device exports reached Rs. 31,120 crore (approximately US$3.64 billion), representing 88% growth over the preceding six years. Government schemes — including the Production Linked Incentive (PLI) programme and 100% FDI permitted under the automatic route — have accelerated domestic manufacturing investment.
Karnataka, where Bangalore is located, sits at the centre of this growth. South India accounted for 35% of India's medical device market share in 2024, leveraging established engineering clusters and export logistics. The Jigani Industrial Area in Bangalore — home to Aster Medispro — exemplifies how industrial clusters in Karnataka have enabled smaller, specialised manufacturers to build internationally competitive operations.
Devices like ureteral stents, nephrostomy catheters, dilators, and stone retrieval baskets — all manufactured and exported by companies like Aster Medispro — sit at the core of this expanding category. Despite progress, India still imports 70 to 80 percent of its medical devices by value, and much of the domestic manufacturing is concentrated in lower-complexity segments.
Aster Medispro's trajectory over 25 years — from a Bangalore start-up to a 45-country exporter with ISO 13485 and CE certification — represents the kind of path that India's medical device industry must replicate at scale. When Indian-made urology devices reach a hospital in Europe or a clinic in Southeast Asia carrying internationally recognised certifications, they carry with them a broader argument: that "Made in India" and "made to the highest global standard" are not competing claims.