Top 20 Medical Devices Companies in India 2023

India has a rapidly growing healthcare industry, driven by an increasing demand for medical devices and services. The medical device market in India is projected to grow at a compound annual growth rate (CAGR) of 15.7% between 2021 and 2026, driven by factors such as a rising geriatric population, increasing prevalence of chronic diseases, and a growing focus on healthcare infrastructure development.

In this context, it is worth exploring the top medical device companies in India that are poised to benefit from this growth.

This article will provide an overview of the top 20 medical device companies in India in 2023, highlighting their products, services, and overall contributions to the healthcare industry.

These companies include established players such as Siemens Healthineers, Philips Healthcare, and GE Healthcare, as well as emerging companies such as ACHIRA LABS PVT.LTD, Muse Diagnostics, and Stasis Labs.

The article will provide insights into the various sub-sectors of the medical device industry, including diagnostic imaging, in-vitro diagnostics, patient monitoring, surgical instruments, and more.

Additionally, it will examine the strategies and innovations that these companies are utilizing to stay competitive in an increasingly crowded market, such as partnerships, acquisitions, and investments in research and development

1. Johnson & Johnson:

Johnson & Johnson is a multinational medical devices, pharmaceutical, and consumer goods company based in the United States. The firm has a substantial presence in India and is regarded as one of the country’s top medical equipment companies.Its product portfolio includes medical devices, diagnostics, and surgical instruments.

Johnson & Johnson Medical India is a subsidiary of the parent company and has been operating in India since 1947. The company’s product line includes joint replacement systems, spine care goods, cardiovascular and diabetic care products, wound closure devices, and endo-surgery items.

Some of the popular products offered by the company include the DePuy Synthes joint replacement systems, Ethicon wound closure products, and Cordis cardiovascular products.

2. Poly Medicure Ltd:

Poly Medicure Ltd is a leading medical device company in India that specializes in the manufacturing and marketing of medical devices. The firm offers a wide variety of goods, such as items for dialysis, blood management, intravenous infusion treatment, and critical care. The company has a strong presence in both the domestic and international markets.

Poly Medicure has a state-of-the-art manufacturing facility in India and has received various certifications such as ISO 9001, ISO 13485, and CE. Some of the popular products offered by the company include IV Cannula, Blood Transfusion Set, Hemodialysis Catheter, and Central Venous Catheter.

3. Opto Circuits (India) Limited:

Opto Circuits (India) Limited is a medical device company that specializes in the manufacturing and marketing of medical devices such as digital thermometers, blood pressure monitors, and pulse oximeters. The firm is well-established in the Indian market and has expanded its operations to other nations.

The company has a strong R&D team that works on developing innovative products that meet the needs of the customers. The company has also received various certifications such as ISO 9001, ISO 13485, and CE. Some of the popular products offered by the company include SpO2 sensors, ECG electrodes, and digital thermometers.

4. Novartis AG:

Novartis AG is a multinational pharmaceutical company that has a strong presence in the medical device market in India. The company’s product portfolio includes pharmaceuticals, vaccines, and medical devices.The business has a robust R&D staff that concentrates on creating cutting-edge items that satisfy consumers’ expectations.

The company’s medical device division offers a wide range of products such as contact lenses, intraocular lenses, and surgical equipment. Some of the popular products offered by the company include the AcrySof IQ intraocular lenses and the DAILIES contact lenses.

5. Johari Digital Healthcare Ltd:

Johari Digital is the leading electronic medical device manufacturer catering to global clients. We design, develop, engineer, and manufacture medical devices for global markets. We are MDSAP, US FDA, and GMP audited electronic medical device manufacturing company in India.

We operate from a 65,000 square foot, state-of-art medical device manufacturing facility in India. Johari innovates through its R&D Center in Europe and a Centre Of Excellence in collaboration with IIT Jodhpur. Our services accelerate medical device development and optimize manufacturing costs. Johari’s versatile product development and manufacturing portfolio includes innovative life science products, diagnostic devices, and therapeutic devices.

6. Abbott Laboratories:

Abbott Laboratories is a global healthcare company that has been operating in India for over 100 years. The company specializes in the development, manufacturing, and distribution of a wide range of medical devices, including diagnostic equipment, glucose monitoring systems, nutrition products, and more.

Abbott Laboratories has a strong presence in the Indian market and is known for its high-quality products and services. The company has a wide network of distributors and dealers across the country and has a reputation for delivering innovative solutions that meet the needs of healthcare professionals and patients.

The company is committed to research and development and invests heavily in innovation to bring new and advanced medical technologies to market. Abbott Laboratories has a team of experienced scientists, engineers, and healthcare professionals who work together to develop and improve the company’s products.

7. Medtronic PLC:

Medtronic PLC is a global healthcare company that has been operating in India for over 30 years. The company specializes in the development, manufacturing, and distribution of medical devices, including cardiac and vascular devices, diabetes management products, surgical instruments, and more.

Medtronic PLC has a strong presence in the Indian market and is known for its innovative products and services. The business has a large network of dealers and distributors spread out over the nation, and it is known for providing top-notch solutions that are tailored to the requirements of patients and healthcare professionals.

The company is committed to research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. Medtronic PLC has a team of experienced scientists, engineers, and healthcare professionals who work together to develop and improve the company’s products.

8. Danaher Corporation:

Danaher Corporation is a global healthcare company that has been operating in India for over 25 years. The company specializes in the development, manufacturing, and distribution of medical devices and equipment, including dental products, diagnostics, life sciences, and environmental and applied solutions.

Danaher Corporation has a strong presence in the Indian market and is known for its innovative products and solutions. The organization has a nationwide network of distributors and dealers and is known for providing high-quality solutions that fulfill the demands of healthcare professionals and patients.

The company is committed to research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. Danaher Corporation has a team of experienced scientists, engineers, and healthcare professionals who work together to develop and improve the company’s products.

9. Baxter International:

Baxter International is a global medical technology company that has been operating in India for over 20 years. The company specializes in the development, manufacturing, and distribution of medical devices, pharmaceuticals, and biotechnology products.

Baxter’s products are used in hospitals, clinics, and homes around the world, and the company is known for its high-quality products and innovative solutions.

Baxter has a substantial presence in the Indian market, with a nationwide network of distributors and dealers. The company is committed to research and development and invests heavily in innovation to bring cutting-edge medical technologies to market.

Baxter has a team of experienced scientists, engineers, and healthcare professionals who work together to develop and improve the company’s products.

Baxter’s product portfolio includes infusion pumps, dialysis machines, blood products, and anesthesia systems. The company also provides services related to the maintenance and support of its products. Baxter’s products are used in a wide range of medical specialties, including critical care, oncology, and surgery.

10. General Electric:

General Electric (GE) is a global technology and engineering company that has been operating in India for over 100 years. The company specializes in the development, manufacturing, and distribution of a wide range of products, including medical devices and equipment.

GE’s products are used in hospitals, clinics, and homes around the world, and the company is known for its innovative solutions and high-quality products.

GE has a strong presence in the Indian market and has a wide network of distributors and dealers across the country. The company is committed to research and development and invests heavily in innovation to bring cutting-edge medical technologies to market.

GE has a team of experienced scientists, engineers, and healthcare professionals who work together to develop and improve the company’s products.

GE’s product portfolio includes diagnostic imaging systems, ultrasound machines, patient monitoring systems, and anesthesia systems. The company also provides services related to the maintenance and support of its products. GE’s products are used in a wide range of medical specialties, including cardiology, oncology, and neurology.

11. lvlAlpha:

lvlAlpha is a leading medical device company in India that has been providing innovative and advanced medical technologies to healthcare professionals and patients for over 10 years. The company specializes in the development, manufacturing, and distribution of medical equipment and devices, including patient monitors, defibrillators, pulse oximeters, and more.

lvlAlpha has a strong presence in the Indian market and has a wide network of distributors and dealers across the country. The company is also expanding its reach globally and exports its products to several countries. The company has state-of-the-art manufacturing facilities that are ISO and CE certified, ensuring that their products meet international quality standards.

lvlAlpha has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. The company’s products are developed and improved by a team of experienced engineers, scientists, and healthcare experts.

12. ShanMukha Innovations:

ShanMukha Innovations is a medical device company in India that has been operating for over 5 years. The company specializes in the development, manufacturing, and distribution of innovative medical devices, including a non-invasive glucose monitoring device that uses laser technology.

ShanMukha Innovations has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. The company has a team of experienced engineers, scientists, and healthcare professionals who work together to develop and improve the company’s products.

ShanMukha Innovations’ product portfolio includes a non-invasive glucose monitoring device, which uses laser technology to measure blood glucose levels without the need for a blood sample. The company is also working on developing other innovative medical equipments.

13. Stasis Labs:

Stasis Labs is a medical device company in India that was founded in 2015. The company specializes in the development and manufacturing of digital health monitoring devices. Their flagship product is the Stasis Smart, a bedside monitoring system that tracks a patient’s vital signs in real-time and alerts healthcare professionals if there are any changes.

Stasis Labs has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. The company has a team of experienced engineers, scientists, and healthcare professionals who work together to develop and improve the company’s products.

Stasis Labs’ product portfolio includes the Stasis Smart, which is a portable bedside monitoring system that tracks a patient’s vital signs, such as heart rate, respiratory rate, and blood pressure, in real-time. The device also has a built-in camera that allows healthcare professionals to monitor patients remotely.

14. Cureous Labs:

Cureous Labs is a medical device company in India that was founded in 2018. The company specializes in the development and manufacturing of digital health solutions that are designed to improve patient outcomes and reduce healthcare costs. Their flagship product is the CureMate, a cloud-based healthcare platform that connects patients, healthcare providers, and caregivers.

Cureous Labs has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. The company has a team of experienced engineers, scientists, and healthcare professionals who work together to develop and improve the company’s products.

Cureous Labs’ product portfolio includes the CureMate, which is a cloud-based healthcare platform that connects patients, healthcare providers, and caregivers. The platform allows patients to track their symptoms, receive medication reminders, and communicate with their healthcare providers. Healthcare providers can use the platform to monitor patient progress and adjust treatment plans as necessary.

15. Lenek Technologies:

Lenek Technologies is a medical device company in India that was founded in 2015. The company specializes in the development and manufacturing of medical devices that are designed to improve patient outcomes and reduce healthcare costs. Their flagship product is the Lenek IV Smart, an IV infusion pump that is designed to reduce medication errors and improve patient safety.

 The company has a team of experienced engineers, scientists, and healthcare professionals who work together to develop and improve the company’s products.

Lenek Technologies’ product portfolio includes the Lenek IV Smart, which is an IV infusion pump that is designed to reduce medication errors and improve patient safety. The device uses advanced algorithms to calculate and administer the correct dosage of medication, and it has a built-in alert system that alerts healthcare professionals if there are any issues.

16. Lifespark Technologies:

Lifespark Technologies is a medical device company in India that was founded in 2013. The company specializes in the development and manufacturing of medical devices that are designed to improve patient outcomes and reduce healthcare costs. Their flagship product is the Lifespark Vital, a wearable device that tracks a patient’s vital signs in real-time.

Lifespark Technologies has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market. The company has a team of experienced engineers, scientists, and healthcare professionals who work together to develop and improve the company’s products.

Lifespark Technologies’ product portfolio includes the Lifespark Vital, a wearable device that tracks a patient’s vital signs, such as heart rate, respiratory rate, and blood pressure, in real-time. The device also has a built-in alert system that alerts healthcare professionals if there are any changes in the patient’s condition. The device is designed to improve patient outcomes and reduce

17. ACHIRA LABS PVT.LTD Bangalore:

ACHIRA LABS PVT.LTD is a Bangalore-based medical device company that specializes in the development of point-of-care diagnostic devices. The company was founded in 2009 and has since developed a range of innovative diagnostic devices for various medical applications.

ACHIRA LABS’ flagship product is the ACHIRA Labs Cardiac Panel, which is a point-of-care diagnostic device that can accurately measure the levels of several cardiac biomarkers in a patient’s blood sample. The device is portable and easy to use, making it an ideal tool for healthcare professionals working in resource-limited settings.

In addition to their Cardiac Panel, ACHIRA LABS also offers a range of other diagnostic devices, including the ACHIRA Labs Cholesterol Panel, ACHIRA Labs Hematology Analyzer, and ACHIRA Labs Infectious Disease Panel. The company has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market.

18. Muse Diagnostics:

Muse Diagnostics is a medical device company that specializes in the development of diagnostic devices for various medical applications. The company is based in Bangalore, India and was founded in 2016. The company’s mission is to provide affordable, accurate, and reliable diagnostic solutions for patients and healthcare providers.

Muse Diagnostics’ flagship product is the Muse Genie, a portable diagnostic device that can accurately diagnose several medical conditions, including infectious diseases, cancer, and genetic disorders. The device uses advanced molecular diagnostics technology to analyze a patient’s DNA sample, providing accurate and reliable results in a matter of hours.

In addition to the Muse Genie, Muse Diagnostics also offers a range of other diagnostic devices, including the Muse Fluorometer and the Muse Analyzer. The company has a strong focus on research and development and invests heavily in innovation to bring cutting-edge medical technologies to market.

19. Siemens Healthineers:

Siemens Healthineers is a globally recognized medical device company that provides a wide range of medical equipment and solutions. The company offers innovative products and services in the areas of diagnostic imaging, laboratory diagnostics, and advanced therapies.

Siemens Healthineers has a significant presence in India, with a well-established network of sales and service facilities located throughout the nation. The company’s products are used in hospitals, clinics, and laboratories across India, helping healthcare professionals deliver high-quality patient care.

Siemens Healthineers is committed to innovation, investing heavily in research and development to create products that meet the evolving needs of the healthcare industry. The company is also focused on providing a seamless and integrated healthcare experience, with products that integrate with electronic health records and other health information systems.

20. Philips Healthcare:

Philips Healthcare is a leading medical device company that provides advanced healthcare solutions for hospitals, clinics, and other healthcare settings. 

Philips Healthcare is known for its innovative products, such as its mobile diagnostic imaging systems and its telehealth solutions, which enable remote monitoring and diagnosis.

 The company is committed to improving healthcare outcomes in India and works closely with healthcare professionals to understand their needs and develop solutions that address their unique challenges.

Philips Healthcare is also focused on sustainability and is committed to reducing its environmental impact through sustainable product design and manufacturing processes.

Conclusion

In conclusion, the medical device market in India is growing at a rapid pace, and the top companies in this space are focusing on developing innovative products that meet the needs of the customers.

These companies are not only catering to the Indian market but also expanding their operations to other countries. The demand for medical devices is expected to grow in the coming years due to an increase in healthcare spending, a growing geriatric population, and an increase in the prevalence of chronic diseases.