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India Cardiovascular Devices Market

India Cardiovascular Devices Market By Product (Diagnostic & Monitoring Devices, Surgical Devices); By End User (Hospitals & Clinics, Diagnostic Laboratories, Ambulatory Surgical Centers, Others); By Diagnostic & Monitoring Devices Type (ECG, Implantable Cardiac Monitors, Holter Monitors, Mobile Cardiac Telemetry, MRI, Others); By Surgical Devices Type (Cardiac Resynchronization Therapy (CRT), Implantable Cardioverter Defibrillators (ICDs), Pacemakers, Coronary Stents, Catheters); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
India Cardiovascular Devices Market Size 2024	USD2,075.98 million
India Cardiovascular Devices Market, CAGR	9.2%
India Cardiovascular Devices Market Size 2032	USD4,580.91 million

Market Overview

The India Cardiovascular Devices Market is projected to grow from USD2,075.98 million in 2024 to an estimated USD4,580.91 million based on 2032, with a compound annual growth rate (CAGR) 9.2% from 2025 to 2032. This growth reflects a robust demand for advanced cardiovascular solutions across both public and private healthcare sectors.

Key market drivers include a growing elderly population, lifestyle changes leading to higher cardiovascular risks, and increasing access to health insurance and affordable care. The government’s focus on expanding healthcare coverage under initiatives such as Ayushman Bharat and the promotion of indigenous medical device manufacturing under the “Make in India” program are further enhancing market accessibility and affordability. Technological advancements, particularly in interventional cardiology and remote monitoring, continue to shape the market’s evolution.

Regionally, metropolitan cities such as Delhi, Mumbai, Chennai, and Bengaluru lead in terms of cardiovascular device adoption due to higher awareness, better infrastructure, and specialized cardiac centers. However, tier-2 and tier-3 cities are witnessing rapid improvements in healthcare delivery, widening the market reach. Key players operating in the India cardiovascular devices market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, GE HealthCare, and Philips India, all of which are actively expanding their product portfolios and local partnerships.

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Market Insights

The India Cardiovascular Devices Market is projected to grow from USD2,075.98 million in 2024 to USD4,580.91 million by 2032, registering a CAGR of 9.2% from 2025 to 2032.
The global cardiovascular devices market is projected to grow from USD 72,115.60 million in 2024 to USD 133,700.94 million by 2032, with a CAGR of 7.1% from 2025 to 2032, driven by increasing cardiovascular diseases and advancements in medical technology.
Rapid urbanization and lifestyle changes have led to a surge in cardiovascular diseases, creating sustained demand for diagnostic, monitoring, and interventional cardiac devices.
The rise in the aging population and increasing health awareness are accelerating the adoption of minimally invasive procedures and continuous cardiac monitoring solutions.
Government programs like Ayushman Bharat and Make in India are expanding access to cardiac care while encouraging domestic production of cardiovascular devices.
High cost of advanced cardiovascular devices and limited reimbursement coverage continue to restrict access for economically weaker sections of the population.
South India leads the market with a 33.4% share, followed by West India (28.1%), North India (24.5%), and East India (14.0%), driven by infrastructure and awareness disparities.
Key players such as Medtronic, Abbott, Boston Scientific, GE HealthCare, and Philips India are strengthening their local presence through product innovation and strategic collaborations.

Report Scope

This report segments the India Cardiovascular Devices Market as follows:

Market Drivers

Rising Prevalence of Cardiovascular Diseases and Associated Risk Factors

India is witnessing a sharp increase in the prevalence of cardiovascular diseases (CVDs), which has become a major public health concern. The burden of ischemic heart disease, stroke, and heart failure has surged due to sedentary lifestyles, poor dietary habits, smoking, excessive alcohol consumption, and rising obesity rates. For instance, according to the World Health Organization (WHO), cardiovascular diseases accounted for 27% of total deaths in India in 2016, making them the leading cause of mortality. Additionally, the Indian Council of Medical Research (ICMR) reports that CVDs contribute significantly to the country’s disease burden. Urbanization has accelerated this trend, as it brings with it lifestyle transitions that elevate cardiovascular risk. This rising disease burden has spurred significant demand for a wide range of cardiovascular devices, including diagnostic equipment, interventional tools such as angioplasty catheters and stents, implantable devices like pacemakers and defibrillators, and monitoring solutions. The increasing incidence of comorbid conditions such as diabetes and hypertension further exacerbates cardiovascular risks, prompting early screening and continuous monitoring. As the disease pattern shifts toward non-communicable diseases, healthcare providers are adopting advanced cardiovascular technologies to manage patient outcomes effectively, thereby strengthening the market demand for innovative devices.

Government Initiatives and Growing Healthcare Infrastructure

The Indian government’s strategic focus on healthcare access and affordability has significantly boosted the cardiovascular devices market. Programs such as Ayushman Bharat, the world’s largest publicly funded health insurance scheme, have brought advanced cardiac treatments within reach for millions. For instance, the National Health Mission and the expansion of government-funded tertiary care hospitals are further strengthening infrastructure for non-communicable disease management. Simultaneously, the Pradhan Mantri Jan Arogya Yojana (PM-JAY) supports the reimbursement of cardiac procedures, including surgeries and implants, thereby driving demand for devices. Moreover, government incentives under the Production Linked Incentive (PLI) scheme and the Make in India initiative have encouraged domestic manufacturing of medical devices, including cardiovascular solutions. This reduces reliance on imports and makes devices more accessible and cost-effective. Several state governments have also partnered with private healthcare players to expand diagnostic and interventional cardiology services in underserved regions. Collectively, these policy efforts and investments have not only enhanced the availability of cardiovascular care but have also fueled robust market growth for related devices.

Technological Advancements and Product Innovation

Rapid technological advancements in cardiovascular diagnostics and therapeutics have revolutionized patient care and propelled market expansion in India. The development of minimally invasive procedures, such as transcatheter aortic valve replacement (TAVR), drug-eluting stents (DES), and image-guided interventions, has made complex cardiac treatments safer, faster, and more efficient. Innovations in wearable and remote monitoring technologies have also transformed chronic disease management, enabling real-time ECG tracking, heart rate monitoring, and detection of arrhythmias outside hospital settings. These advancements are particularly impactful in India, where the availability of healthcare professionals and tertiary care centers is often unevenly distributed across regions. As technology bridges the accessibility gap, both urban and rural patients benefit from early detection and continuous care. Additionally, global and domestic manufacturers are introducing AI-integrated cardiac imaging, cloud-based telemetry, and automated defibrillators tailored for the Indian market. These innovations align with the growing preference among cardiologists for precision-based treatments and faster clinical decision-making, making technology a cornerstone of market acceleration.

Increasing Awareness and Rise in Health Insurance Penetration

Health awareness among the Indian population has improved markedly over the past decade, driven by government campaigns, media outreach, and growing education levels. People are increasingly recognizing the importance of regular health check-ups, early diagnosis, and chronic disease management, especially for heart-related ailments. This behavioral shift has contributed to a rise in preventive screening for hypertension, cholesterol, and ECG abnormalities, thereby increasing demand for diagnostic cardiovascular devices. Moreover, the growing penetration of health insurance has made cardiovascular procedures more financially accessible to the middle-income population. Private insurance companies have broadened their coverage to include cardiac surgeries, implants, and even remote monitoring services. This trend reduces out-of-pocket expenditure and motivates patients to opt for advanced treatments that require specialized cardiovascular devices. Simultaneously, the urban middle class is exhibiting a stronger inclination toward quality healthcare services, contributing to the rising demand for premium cardiac care solutions. As awareness and insurance coverage grow in parallel, they create a more favorable ecosystem for cardiovascular device adoption across diverse demographics.

Market Trends

Shift Toward Minimally Invasive Cardiovascular Procedures

One of the most prominent trends in the India cardiovascular devices market is the growing preference for minimally invasive procedures. Cardiologists and surgeons are increasingly opting for technologies such as balloon angioplasty, transcatheter aortic valve implantation (TAVI), and laser atherectomy due to their reduced recovery time, shorter hospital stays, and lower complication rates. These procedures are particularly attractive in India, where patients often seek cost-effective and less invasive options due to financial constraints and lifestyle obligations. Medical institutions are also expanding their interventional cardiology departments and investing in state-of-the-art catheterization labs to support these advanced techniques. For instance, Apollo Hospitals has reported a significant increase in minimally invasive cardiac procedures, including robotic-assisted surgeries and transcatheter interventions. Furthermore, device manufacturers are developing more compact, flexible, and biocompatible instruments that can navigate complex vascular anatomies. Innovations such as drug-coated balloons and bioresorbable scaffolds are increasingly being introduced into the Indian market, supported by clinical studies and regulatory approvals. The push toward minimally invasive solutions aligns with patient-centric care and is significantly influencing procurement decisions among hospitals and diagnostic centers. This trend is expected to accelerate further as both public and private sectors prioritize quality outcomes, cost efficiency, and reduced procedural risks in the cardiovascular domain. IndiaMedToday highlights that minimally invasive cardiac treatments are driving growth in India’s healthcare sector, reducing hospital stays and improving efficiency.

Rise of AI-Integrated Diagnostic and Monitoring Devices

Artificial intelligence (AI) is increasingly becoming integral to the development and application of cardiovascular diagnostic and monitoring devices in India. The adoption of AI-powered ECG analysis systems, predictive analytics for arrhythmia detection, and smart wearable devices for remote patient monitoring is revolutionizing early diagnosis and preventive cardiology. These tools allow healthcare providers to identify abnormalities such as atrial fibrillation and myocardial infarction with greater accuracy and speed, particularly in high-risk patients. In a country like India, where specialist access is often limited in rural regions, AI helps bridge the diagnostic gap by enabling frontline health workers to make informed referrals based on algorithm-generated insights. Additionally, AI-based solutions improve workflow efficiency in hospitals by reducing interpretation time and standardizing diagnosis. Indian startups and multinational companies are actively collaborating to develop AI-driven health platforms tailored to local clinical settings. For instance, NURA, a diagnostic initiative from Fujifilm Healthcare and Dr. Kutty’s Healthcare, has launched an AI-focused health screening center in Calicut, India, designed to enhance early disease detection. Regulatory bodies are also beginning to support the integration of AI through guidelines and pilot projects in telecardiology. The rising acceptance of AI in cardiovascular care not only improves patient outcomes but also enhances the scalability of healthcare services, making it a crucial trend in the current market landscape. IMARC Group reports that AI in medical diagnostics is expanding rapidly in India, with hospitals increasingly relying on AI-powered tools to improve diagnostic accuracy and speed.

Expansion of Telecardiology and Remote Patient Monitoring

Telecardiology is gaining momentum across India as a practical solution to bridge the gap between specialized cardiac care and underserved areas. With the rapid digitization of healthcare and widespread smartphone penetration, remote monitoring technologies are becoming more accessible. Cardiologists now utilize telemedicine platforms for virtual consultations, remote ECG interpretation, and post-operative follow-ups, ensuring continuity of care beyond hospital walls. This trend is especially critical in India, where rural populations often lack access to advanced cardiovascular facilities. Remote monitoring devices, such as portable ECG monitors, Holter devices, and Bluetooth-enabled blood pressure monitors, are being deployed to track patients’ cardiac health in real time. These devices support early detection of arrhythmias, heart failure, and other critical conditions, prompting timely interventions. Government initiatives under the Digital Health Mission and increased funding for telehealth infrastructure are facilitating this transition. Furthermore, hospitals and device manufacturers are partnering to develop home-based cardiac care models, particularly for elderly patients and those with chronic heart conditions. The growth of telecardiology and remote monitoring is transforming India’s cardiovascular landscape by improving accessibility, enhancing patient compliance, and enabling data-driven clinical decisions across geographies.

Growing Demand for Indigenous and Cost-Effective Devices

The Indian cardiovascular devices market is witnessing a notable surge in demand for domestically manufactured and cost-effective devices. This trend is driven by the government’s push for self-reliance under the “Atmanirbhar Bharat” and “Make in India” initiatives, which aim to reduce import dependency and lower healthcare costs. Local manufacturers are increasingly producing high-quality diagnostic, therapeutic, and surgical devices at competitive prices, catering to both urban and rural markets. Companies are focusing on affordability without compromising on clinical efficacy, especially in categories such as stents, pacemakers, and monitoring systems. The government has also implemented price caps on essential cardiovascular devices like drug-eluting stents and bare-metal stents through the National Pharmaceutical Pricing Authority (NPPA), making treatments more accessible to the general population. Additionally, the development of medical device parks and increased R\&D funding are enabling startups and SMEs to innovate and scale efficiently. This localization trend not only boosts domestic production but also enhances the availability of customized solutions that address region-specific cardiovascular needs. The increasing preference for indigenous products is shaping procurement strategies among hospitals and strengthening India’s position as a manufacturing hub in the global cardiovascular device ecosystem.

Market Challenges

Limited Access to Advanced Cardiovascular Care in Rural and Tier-2 Regions

Despite significant advancements in India’s healthcare infrastructure, limited access to advanced cardiovascular care in rural and tier-2 regions remains a major market challenge. A significant portion of India’s population still resides in areas where specialized cardiac services, such as interventional cardiology, electrophysiology, and cardiac surgery, are either unavailable or severely under-resourced. Most high-end cardiovascular procedures and diagnostic services are concentrated in metropolitan cities, creating a disparity in healthcare access. The lack of trained cardiologists, catheterization laboratories, and tertiary care centers in remote areas severely restricts the adoption of advanced cardiovascular devices.Additionally, inadequate infrastructure, including poor transportation and emergency services, further complicates timely diagnosis and treatment of cardiac conditions in rural settings. For instance, the Indian Institute of Public Health Gandhinagar (IIPHG) has reported that cardiovascular diseases pose a major health challenge in India, with rising instances of heart attacks, strokes, diabetes, obesity, and elevated blood pressure and cholesterol levels. This urban-rural divide has direct implications for device manufacturers and service providers, as it limits market penetration and delays the widespread adoption of innovative technologies.Although telemedicine and mobile health clinics offer potential solutions, logistical, regulatory, and connectivity challenges continue to hinder their effectiveness. Moreover, healthcare awareness in these regions is relatively low, leading to delayed patient presentation and limited demand for preventive or monitoring devices. Bridging this healthcare delivery gap will require coordinated efforts between the government, private sector, and healthcare providers to invest in infrastructure, training, and community-level awareness programs tailored to non-urban populations.

High Cost of Advanced Devices and Inconsistent Reimbursement Policies

The high cost of advanced cardiovascular devices poses a significant barrier to their adoption in India, particularly among middle- and lower-income populations. Devices such as implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy (CRT) devices, and bioresorbable vascular scaffolds are often priced beyond the affordability threshold for many patients. Even with increasing health insurance penetration, out-of-pocket expenditure remains high, as reimbursement frameworks are inconsistent and often exclude cutting-edge interventions or offer partial coverage. While government schemes such as Ayushman Bharat provide financial support for basic procedures, they frequently fall short of covering newer or technologically superior devices. The cost sensitivity of the Indian healthcare market also affects hospitals’ purchasing decisions, leading many to opt for lower-cost alternatives or reuse certain device components where permissible, which may compromise patient outcomes. Manufacturers, especially multinational firms, struggle to strike a balance between maintaining innovation and ensuring affordability in such a price-sensitive environment. Additionally, frequent pricing regulations—such as those imposed by the National Pharmaceutical Pricing Authority (NPPA)—add complexity and unpredictability to pricing strategies, discouraging investment in high-end product launches. This challenge underscores the urgent need for structured reimbursement models, subsidies for critical care devices, and public-private partnerships that promote affordability without stifling innovation and quality in cardiac healthcare delivery.

Market Opportunities

Expanding Middle-Class Population and Rising Demand for Quality Healthcare

India’s rapidly growing middle-class population, along with increasing urbanization and higher disposable incomes, presents a significant opportunity for the cardiovascular devices market. As more individuals gain access to private healthcare services, the demand for advanced and reliable cardiac care solutions is expected to surge. This demographic shift is driving consumer expectations toward quality diagnostics, minimally invasive procedures, and post-operative monitoring systems. With lifestyle-related diseases on the rise, there is also a growing preference for preventive health check-ups, which boosts the market for diagnostic cardiovascular devices. Private hospitals are expanding their cardiology departments and investing in state-of-the-art infrastructure to cater to this demand. The evolving healthcare-seeking behavior of the Indian population is creating favorable conditions for market growth, particularly in the premium device segment.

Growth Potential in Domestic Manufacturing and Export of Cardiovascular Devices

The Indian government’s emphasis on self-reliance in the medical devices sector under the “Make in India” and “Atmanirbhar Bharat” initiatives has created a strong foundation for domestic production of cardiovascular devices. Incentives under the Production Linked Incentive (PLI) scheme, the development of medical device parks, and streamlined regulatory processes are attracting investments and fostering innovation among Indian manufacturers. This environment offers ample opportunities for companies to design cost-effective, high-quality devices tailored to both domestic and global markets. As India strengthens its manufacturing capabilities, the potential to become a major export hub for affordable cardiovascular devices is increasing, especially for emerging economies seeking value-based healthcare solutions.

Market Segmentation Analysis

By Product

The India cardiovascular devices market, when segmented by product, is categorized into diagnostic & monitoring devices and surgical devices. Diagnostic and monitoring devices such as electrocardiographs (ECG), Holter monitors, event monitors, and implantable loop recorders are gaining significant traction, particularly in urban and semi-urban areas, where early detection and long-term monitoring of cardiovascular conditions are becoming integral to preventive care. Technological advancements in non-invasive and remote monitoring tools have made these devices more user-friendly and accessible. On the other hand, surgical devices—including pacemakers, stents, catheters, and implantable cardioverter defibrillators (ICDs)—account for a substantial market share due to the rising number of interventional procedures like angioplasty and bypass surgeries. The adoption of advanced surgical tools is especially high in tertiary care hospitals and specialized cardiac centers, driven by a growing preference for minimally invasive treatments and improved post-operative outcomes.

By End User

In terms of end users, hospitals and clinics dominate the market owing to their robust infrastructure, skilled personnel, and high patient footfall. These facilities remain the primary choice for diagnostic evaluations, emergency cardiac interventions, and post-operative care. Diagnostic laboratories also play a crucial role, especially in conducting routine cardiovascular assessments, cholesterol profiling, and ECG testing, which are essential for early-stage disease identification. Ambulatory surgical centers are witnessing a gradual rise in adoption as they offer cost-effective alternatives for certain low-risk cardiovascular procedures, supported by quicker patient turnaround and shorter hospital stays. Other end users, including home healthcare providers and rehabilitation centers, are contributing to market expansion by offering personalized monitoring and recovery support, particularly for elderly and chronic care patients.

Segments

Based on Product

Diagnostic & Monitoring Devices
Surgical Device

Based on End User

Hospitals & Clinics
Diagnostic Laboratories
Ambulatory Surgical Centers
Others

Based on Diagnostic & Monitoring Devices Type

ECG
Implantable Cardiac Monitors
Holter Monitors
Mobile Cardiac Telemetry
MRI
Others

Based on Surgical Devices Type

Cardiac Resynchronization Therapy (CRT)
Implantable Cardioverter Defibrillators (ICDs
Pacemakers
Coronary Stents
Catheters

Based on Region

South India
West India
North India
East India

Regional Analysis

South India (33.4%)

South India holds the largest market share, accounting for approximately 33.4% of the total market in 2024. This dominance is attributed to the presence of several well-established multispecialty hospitals and renowned cardiac care centers in cities such as Chennai, Bengaluru, and Hyderabad. These cities have emerged as major medical hubs, attracting both domestic and international patients for complex cardiac procedures. High levels of healthcare literacy, favorable state-level health policies, and investment in cutting-edge cardiac equipment further support the region’s market leadership.

West India (28.1%)

West India ranks second, with a market share of 28.1%, driven by cities such as Mumbai, Pune, and Ahmedabad. These urban centers benefit from strong public-private healthcare partnerships and high patient volumes. The region also boasts a growing network of cardiac care hospitals and diagnostic centers equipped with advanced cardiovascular imaging and interventional tools. Rising awareness about preventive cardiology and growing access to health insurance in the western states are accelerating the adoption of both surgical and monitoring devices.

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Key players

Abbott
GE HealthCare
Edwards Lifesciences Corporation
Siemens Healthcare GmbH
BIOTRONIK SE & Co. KG
Canon Medical Systems Asia Pte. Ltd.
Cardinal Health
Medtronic
Meril Life Sciences
Boston Scientific Corporation
Sahajanand Medical Technologies
Translumina Therapeutics
Hindustan Syringes & Medical Devices Ltd. (HMD)
Cardiac Designs
Vascular Concepts

Competitive Analysis

The India cardiovascular devices market is highly competitive, with a mix of global leaders and strong domestic manufacturers driving innovation and accessibility. Global giants such as Abbott, Medtronic, and Boston Scientific dominate with advanced portfolios, robust R\&D, and strong brand equity. GE HealthCare and Siemens focus heavily on diagnostic and imaging devices, leveraging their technological superiority. Indian players like Meril Life Sciences, Sahajanand Medical Technologies, and Translumina Therapeutics are gaining ground with cost-effective, locally produced interventional devices suited to India’s price-sensitive market. Additionally, companies such as Hindustan Syringes & Medical Devices Ltd. and Cardiac Designs play a pivotal role in addressing basic cardiovascular care needs and expanding device access in underserved regions. Strategic collaborations, localization of production, and focus on affordable innovations remain key tactics among competitors to enhance market share and cater to India’s growing cardiac patient base.

Recent Developments

In February 2025, Abbott issued a safety notification for certain Assurity and Endurity pacemakers due to potential epoxy mixing issues during manufacturing, which could lead to device malfunction.

In April 2025, GE HealthCare launched the Revolution™ Vibe CT system featuring Unlimited One-Beat Cardiac imaging and AI solutions, enhancing cardiac imaging capabilities.

In April 2025, Medtronic reported promising evidence for its Affera™ pulsed field ablation technologies in treating atrial fibrillation patients.

In May 2024, Siemens Healthineers announced new cardiology applications with artificial intelligence for the Acuson Sequoia ultrasound system, including a new 4D transesophageal (TEE) transducer for cardiology exams.

In February 2025, Philips developed a miniaturized intracardiac transducer, enabling higher-resolution views of cardiac structures and functions, benefiting structural heart disease and electrophysiology procedures.

In March 2025, Boston Scientific announced the acquisition of SoniVie Ltd. to expand its interventional cardiology therapies offerings with ultrasound-based renal denervation technology.

In June 2024, Biovac Institute entered a partnership with Sanofi to locally manufacture inactivated polio vaccines in Africa, aiming to serve the potential needs of over 40 African countries.

Market Concentration and Characteristics

The India Cardiovascular Devices Market exhibits a moderately concentrated structure, characterized by the presence of a few dominant multinational corporations alongside a growing number of competitive domestic players. Global leaders such as Abbott, Medtronic, and Boston Scientific hold significant market share due to their advanced technology offerings, strong distribution networks, and well-established brand presence. At the same time, Indian manufacturers like Meril Life Sciences and Sahajanand Medical Technologies are rapidly gaining market traction through cost-effective innovations and government-supported local production initiatives. The market is defined by rapid technological advancement, increasing demand for minimally invasive and diagnostic solutions, and a strong push toward affordability and accessibility. High growth potential in tier-2 and tier-3 cities, coupled with expanding healthcare infrastructure and policy support under initiatives like “Make in India,” is fostering greater competition and accelerating the entry of new players, making the market dynamic and innovation-driven.

Report Coverage

The esearch report offers an in-depth analysis based on Product, End User, Diagnostic & Monitoring Devices Type, Surgical Devices Type and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The market will witness increased adoption of minimally invasive cardiovascular procedures, driven by patient preference for reduced recovery time and procedural risks.

Government support through initiatives like “Make in India” and the Production Linked Incentive (PLI) scheme will boost local manufacturing and reduce dependency on imports.

Innovations in AI-powered diagnostic tools, portable ECGs, and imaging systems will enhance early detection and monitoring of cardiovascular conditions across diverse settings.

Targeted infrastructure development and mobile health units will expand cardiovascular care into tier-2 and tier-3 cities, unlocking new regional growth opportunities.

Greater penetration of public and private health insurance will improve affordability of advanced cardiac devices, increasing patient access to premium interventions.

Medical device companies are expected to form more partnerships with hospitals, startups, and research institutions to localize products and enhance market penetration.

The shift toward precision medicine and patient-specific treatment plans will drive demand for personalized cardiovascular devices and customized monitoring solutions.

The preventive healthcare trend will continue, with rising uptake of wearable heart monitoring devices for continuous tracking and early warning signals.

Streamlined regulatory pathways and policy reforms will accelerate approvals for innovative cardiovascular devices, encouraging more product launches in the Indian market.

India’s cost-effective cardiac care and growing expertise will attract international patients, while locally produced devices may find increasing demand in emerging global markets.

CHAPTER NO. 1 : INTRODUCTION 17

1.1.1. Report Description 17

Purpose of the Report 17

USP & Key Product 17

1.1.2. Key Benefits for Stakeholders 17

1.1.3. Target Audience 18

1.1.4. Report Scope 18

CHAPTER NO. 2 : EXECUTIVE SUMMARY 19

2.1. Cardiovascular Devices Market Snapshot 19

2.1.1. India Cardiovascular Devices Market, 2018 – 2032 (USD Million) 20

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 21

3.1. Russia-Ukraine and Israel-Palestine War Impacts 21

CHAPTER NO. 4 : CARDIOVASCULAR DEVICES MARKET – INDUSTRY ANALYSIS 22

4.1. Introduction 22

4.2. Market Drivers 23

4.2.1. Driving Factor 1 Analysis 23

4.2.2. Driving Factor 2 Analysis 24

4.3. Market Restraints 25

4.3.1. Restraining Factor Analysis 25

4.4. Market Opportunities 26

4.4.1. Market Opportunities Analysis 26

4.5. Porter’s Five Force analysis 27

4.6. Value Chain Analysis 28

4.7. Buying Criteria 29

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 30

5.1. Company Market Share Analysis – 2023 30

5.1.1. India Cardiovascular Devices Market: Company Market Share, by Revenue, 2023 30

5.1.2. India Cardiovascular Devices Market: Top 6 Company Market Share, by Revenue, 2023 30

5.1.3. India Cardiovascular Devices Market: Top 3 Company Market Share, by Revenue, 2023 31

5.2. India Cardiovascular Devices Market Company Revenue Market Share, 2023 32

5.3. Company Assessment Metrics, 2023 33

5.3.1. Stars 33

5.3.2. Emerging Leaders 33

5.3.3. Pervasive Players 33

5.3.4. Participants 33

5.4. Start-ups /Code Assessment Metrics, 2023 33

5.4.1. Progressive Companies 33

5.4.2. Responsive Companies 33

5.4.3. Dynamic Companies 33

5.4.4. Starting Blocks 33

5.5. Strategic Developments 34

5.5.1. Acquisition & Mergers 34

New Product Launch 34

Regional Expansion 34

5.6. Key Players Product Matrix 35

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 36

6.1. PESTEL 36

6.1.1. Political Factors 36

6.1.2. Economic Factors 36

6.1.3. Social Factors 36

6.1.4. Technological Factors 36

6.1.5. Environmental Factors 36

6.1.6. Legal Factors 36

6.2. Adjacent Market Analysis 36

CHAPTER NO. 7 : CARDIOVASCULAR DEVICES MARKET – BY PRODUCT SEGMENT ANALYSIS 37

7.1. Cardiovascular Devices Market Overview, by Product Segment 37

7.1.1. Cardiovascular Devices Market Revenue Share, By Product, 2023 & 2032 38

7.1.2. Cardiovascular Devices Market Attractiveness Analysis, By Product 39

7.1.3. Incremental Revenue Growth Opportunities, by Product, 2024 – 2032 39

7.1.4. Cardiovascular Devices Market Revenue, By Product, 2018, 2023, 2027 & 2032 40

7.2. Diagnostic & Monitoring Devices 41

7.2.1. India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 42

7.3. Surgical Devices 43

7.3.1. India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 44

7.3.2. India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 44

CHAPTER NO. 8 : CARDIOVASCULAR DEVICES MARKET – BY END USER SEGMENT ANALYSIS 45

8.1. Cardiovascular Devices Market Overview, by End User Segment 45

8.1.1. Cardiovascular Devices Market Revenue Share, By End User, 2023 & 2032 46

8.1.2. Cardiovascular Devices Market Attractiveness Analysis, By End User 47

8.1.3. Incremental Revenue Growth Opportunities, by End User, 2024 – 2032 47

8.1.4. Cardiovascular Devices Market Revenue, By End User, 2018, 2023, 2027 & 2032 48

8.2. Hospitals & Clinics 49

8.3. Diagnostic Laboratories 50

8.4. Ambulatory Surgical Centers 51

8.5. Others 52

CHAPTER NO. 9 : CARDIOVASCULAR DEVICES MARKET – INDIA 53

9.1. India 53

9.1.1. Key Highlights 53

9.1.2. India Cardiovascular Devices Market Revenue, By Country, 2018 – 2023 (USD Million) 54

9.2. Product 55

9.3. India Cardiovascular Devices Market Revenue, By Product, 2018 – 2023 (USD Million) 55

9.4. India Cardiovascular Devices Market Revenue, By Product, 2024 – 2032 (USD Million) 55

9.5. Diagnostic & Monitoring Device Types 56

9.5.1. India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 56

9.5.2. India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 56

9.6. Surgical Devices Types 57

9.6.1. India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 57

9.6.2. India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 57

9.7. End User 58

9.7.1. India Cardiovascular Devices Market Revenue, By End User, 2018 – 2023 (USD Million) 58

9.7.2. India Cardiovascular Devices Market Revenue, By End User, 2024 – 2032 (USD Million) 58

CHAPTER NO. 10 : COMPANY PROFILES 59

10.1. Abbott 59

10.1.1. Company Overview 59

10.1.2. Product Portfolio 59

10.1.3. Swot Analysis 59

10.1.4. Business Strategy 60

10.1.5. Financial Overview 60

10.2. GE HealthCare 61

10.3. Edwards Lifesciences Corporation 61

10.4. Siemens Healthcare GmbH 61

10.5. BIOTRONIK SE & Co. KG 61

10.6. Canon Medical Systems Asia Pte. Ltd. 61

10.7. Cardinal Health 61

10.8. Medtronic 61

10.9. Meril Life Sciences 61

10.10. Boston Scientific Corporation 61

10.11. Sahajanand Medical Technologies 61

10.12. Translumina Therapeutics 61

10.13. Hindustan Syringes & Medical Devices Ltd. (HMD) 61

10.14. Cardiac Designs 61

10.15. Vascular Concepts 61

10.16. Others 61

]

List of Figures

FIG NO. 1. India Cardiovascular Devices Market Revenue, 2018 – 2032 (USD Million) 20

FIG NO. 2. Porter’s Five Forces Analysis for India Cardiovascular Devices Market 27

FIG NO. 3. Value Chain Analysis for India Cardiovascular Devices Market 28

FIG NO. 4. Company Share Analysis, 2023 30

FIG NO. 5. Company Share Analysis, 2023 30

FIG NO. 6. Company Share Analysis, 2023 31

FIG NO. 7. Cardiovascular Devices Market – Company Revenue Market Share, 2023 32

FIG NO. 8. Cardiovascular Devices Market Revenue Share, By Product, 2023 & 2032 38

FIG NO. 9. Market Attractiveness Analysis, By Product 39

FIG NO. 10. Incremental Revenue Growth Opportunities by Product, 2024 – 2032 39

FIG NO. 11. Cardiovascular Devices Market Revenue, By Product, 2018, 2023, 2027 & 2032 40

FIG NO. 12. India Cardiovascular Devices Market for Diagnostic & Monitoring Devices, Revenue (USD Million) 2018 – 2032 41

FIG NO. 13. India Cardiovascular Devices Market for Surgical Devices, Revenue (USD Million) 2018 – 2032 43

FIG NO. 14. Cardiovascular Devices Market Revenue Share, By End User, 2023 & 2032 46

FIG NO. 15. Market Attractiveness Analysis, By End User 47

FIG NO. 16. Incremental Revenue Growth Opportunities by End User, 2024 – 2032 47

FIG NO. 17. Cardiovascular Devices Market Revenue, By End User, 2018, 2023, 2027 & 2032 48

FIG NO. 18. India Cardiovascular Devices Market for Hospitals & Clinics, Revenue (USD Million) 2018 – 2032 49

FIG NO. 19. India Cardiovascular Devices Market for Diagnostic Laboratories, Revenue (USD Million) 2018 – 2032 50

FIG NO. 20. India Cardiovascular Devices Market for Ambulatory Surgical Centers, Revenue (USD Million) 2018 – 2032 51

FIG NO. 21. India Cardiovascular Devices Market for Others, Revenue (USD Million) 2018 – 2032 52

FIG NO. 22. India Cardiovascular Devices Market Revenue, 2018 – 2032 (USD Million) 53

List of Tables

TABLE NO. 1. : India Cardiovascular Devices Market: Snapshot 19

TABLE NO. 2. : Drivers for the Cardiovascular Devices Market: Impact Analysis 23

TABLE NO. 3. : Restraints for the Cardiovascular Devices Market: Impact Analysis 25

TABLE NO. 4. : India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 42

TABLE NO. 5. : India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 42

TABLE NO. 6. : India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 44

TABLE NO. 7. : India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 44

TABLE NO. 8. : India Cardiovascular Devices Market Revenue, By Country, 2018 – 2023 (USD Million) 54

TABLE NO. 9. : India Cardiovascular Devices Market Revenue, By Country, 2024 – 2032 (USD Million) 54

TABLE NO. 10. : India Cardiovascular Devices Market Revenue, By Product, 2018 – 2023 (USD Million) 55

TABLE NO. 11. : India Cardiovascular Devices Market Revenue, By Product, 2024 – 2032 (USD Million) 55

TABLE NO. 12. : India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 56

TABLE NO. 13. : India Cardiovascular Devices Market Revenue, By Diagnostic & Monitoring Device Types, 2018 – 2023 (USD Million) 56

TABLE NO. 14. : India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 57

TABLE NO. 15. : India Cardiovascular Devices Market Revenue, By Surgical Devices Types, 2018 – 2023 (USD Million) 57

TABLE NO. 16. : India Cardiovascular Devices Market Revenue, By End User, 2018 – 2023 (USD Million) 58

TABLE NO. 17. : India Cardiovascular Devices Market Revenue, By End User, 2024 – 2032 (USD Million) 58

Frequently Asked Questions

What was the market size of the India Cardiovascular Devices Market in 2023 and what is its projected size by 2032?

The India Cardiovascular Devices Market was valued at USD2,075.98 million in 2024 and is expected to reach USD4,580.91 million by 2032, growing at a CAGR of 9.2% from 2025 to 2032.

What factors are driving the growth of the cardiovascular devices market in India?

Rising incidence of cardiovascular diseases, lifestyle-related health risks, and expanding healthcare infrastructure are key factors driving market growth in India.

How are government initiatives influencing the cardiovascular devices market in India?

Programs like Ayushman Bharat and Make in India are enhancing healthcare access and promoting local manufacturing, improving affordability and market penetration.

Who are the major players operating in the India cardiovascular devices market?

Key players include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, GE HealthCare, and Philips India, all focusing on innovation and local partnerships.

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