India’s medical device industry is gaining attention from private equity investors as rising healthcare demand, import dependence and domestic manufacturing opportunities create fresh growth prospects. The sector’s fragmented market is also opening doors for consolidation and strategic investments.

Recent developments involving medical device manufacturer Romsons and reports concerning BL Lifesciences highlight growing investor interest in the sector. Singapore-based Quadria Capital has been associated with a strategic transaction involving Romsons, while reports have indicated potential competition for a majority stake in BL Lifesciences involving Romsons and KKR-owned Healthium Medtech.

Industry stakeholders see opportunities to expand local manufacturing and strengthen India’s medical device ecosystem. The National Medical Devices Policy 2023 has also provided a framework to support domestic manufacturing, innovation and industry development.

With healthcare demand continuing to evolve, investors are increasingly assessing medical device businesses for their potential to scale operations, expand product portfolios and reduce reliance on imported equipment. Further consolidation could reshape competition and create larger domestic players in India’s healthcare technology market.