Top Medical Equipment Manufacturers in India

Here is the list of Top Medical Equipment Manufacturers in India before that take a look at Medical Equipment Industry. The Indian Medical Devices market currently valued approx. at USD 7.5 billion and growing at 12-15 % CAGR vis-à-vis a CAGR of 5% for the Global medical devices industry

The Global Medical Device industry is poised for steady growth, with global annual sales forecast to rise by over 5% a year and reach nearly US$800 billion by 2030.

List of Top Medical Equipment Manufacturers in India

India among the top 20 global medical devices market and 4th largest medical devices market in Asia after Japan, China, and South Korea. The medical device market continues to be dominated by imported products, which comprise around 70% of total sales.

Here is the List of Medical Equipment Manufacturers in India

S NO	Company Names	Security Code	Security Id	Face Value	ISIN No
1	CDR MEDICAL INDUSTRIES LTD.	524418	CDRMEDI	10	NA
2	CENTENIAL SURGICAL SUTURE LTD.	531380	CSURGSU	10	INE405H01018
3	CURE SPECTS LASERS LTD.	531356	CURESPEC	10	INE730B01012
4	INVICTA MEDITEK LTD.	523844	INVICTA	10	INE537B01011
5	MAESTROS MEDILINE SYSTEMS LTD.-$	501209	MAESTROM	10	INE408E01027
6	OPTO CIRCUITS (INDIA) LTD.	532391	OPTOCIRCUI	10	INE808B01016
7	POLY MEDICURE LTD.	531768	POLYMED	5	INE205C01021
8	RAAJ MEDISAFE INDIA LTD.	524502	RAAJMEDI	10	INE548H01015
9	SIEMENS HEALTHCARE DIAGNOSTICS LTD.	506559	SIEHEALTH	10	INE195D01014

This is the list of Top Medical Device Companies in India which are sorted out based on the Sales.

1. Poly Medicure Ltd

Poly Medicure manufactures more than 125 products using state of the art technology in ultra-modern facilities & state of art technology covering over 400,000 square feet of manufacturing floor space with about 100,000 square feet of cleanrooms of class 100,000 to class 1,000 (ISO Class 7 & 8).

• Total Sales: Rs 688 Cr
• Market Cap:  2,711 Cr.
• ROE: 17.98 %
• Sales Growth (3Yrs): 14.06 %
• Promoter holding: 48.76 %
• Debt to equity: 0.37
• Price to book value: 6.64

A tool room with modern facilities & CNC machines supports the manufacturing processes. A high degree of automation and an effective process control helps in delivering consistent product quality.

To keep pace with the ever-changing market requirements, Polymed has a fully staffed and highly equipped R&D section approved by Ministry of Science & Technology Government of India to design & develop new and innovative products from Design to production in a short period using rapid prototyping 3 D printer CAD/CAM technology, etc.

Poly Medicure is the largest Medical Equipment Manufacturers in India. The company is one of the largest Medical Equipment companies in India. Possess ultra-modern tool room with sophisticated machines like

• CNC wire cut,
• EDM and
• Vertical Machining Center.

2. Opto Circuits (India) Limited 

Opto Circuits Limited is a multinational medical device company headquartered out of Bengaluru, India. The company design, develop, manufacture, market and distribute a range of Medical Equipment Manufacturers products that are used by healthcare establishments in more than 150 countries.

The company is specialize in vital signs monitoring, emergency cardiac care, vascular treatments and sensing technologies. The company products are US FDA listed and CE marked. Some of the well-known brands marketed by us are Criticare Systems, Mediaid, Unetixs Vascular, Eurocor and Cardiac Science.

In India, The company stock is publicly traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company is also one of the Largest Medical Equipment Manufacturers in the India.

3. Johari Digital Healthcare Ltd

Johari Digital Healthcare designs, develops, engineers and produces electronic medical devices to be distributed worldwide.

The Company core services range from design to development, electronics, and mechanical engineering, prototyping, system integration, packaging, Home Healthcare Devices and supply chain. Johari also helps clients with regulatory and compliance support to reduce product’s Time to Market.  

• Market Value: 500 cr. 
• Number of Employees: 200+ 
• Headquarter: Jodhpur, Rajasthan, India 
• Company Website: www.joharidigital.com 

Johari caters to its global clients from a 65,000 square foot, state-of-art medical device manufacturing facility in India, along with an R&D Center in Europe. Johari’s manufacturing portfolio includes innovative life science products, diagnostic devices, and therapeutic devices.  

Domestic manufacturing

India faces a considerable gap between the current demand and supply of medical devices, which is creating opportunities for manufacturing devices in India.

To boost domestic manufacturing of medical devices and attract investments in India, the department of pharmaceuticals has launched a Production Linked Incentive (PLI) scheme for domestic manufacturing of medical devices, with a total outlay of funds worth INR 3,420 Crores for the period FY21-FY28.