At present, the Indian medical device market constitutes 1.6% of the global health market [1]. It is the fourth largest in Asia, behind Japan, China, and South Korea [2]. Approximately 65% of Indian manufacturers are domestic firms that primarily produce consumables for domestic consumption with minimal exports [3]. In India’s medical device industry, which includes more than 800 manufacturers, the majority—65%—generate annual sales under INR 10 crores (around $1.5 million). A quarter of these companies have yearly revenues ranging from INR 10 to 50 crores (about $1.5–$6 million), while just 2%, generally large multinational firms, surpass INR 500 crores in turnover (approximately $73 million). Understandably, the medical device business in India is dominated by large multinational corporations.