The global medical devices market size was valued at USD 423.8 billion in 2018 and is expected to reach USD 612.7 billion by 2025.
Rising geriatric population, economic growth, growing prevalence of chronic conditions, increased access to healthcare facilities, rising healthcare expenditure, growth in surgical procedures, etc. are projected to boost the global medical devices market. With rapid advancement in Indian medical device industry, Indian companies are manufacturing different class of medical devices. The Medical Devices Rules 2017 effective from 01 January 2018, streamlined the rules and regulations concerned with different types of medical devices.