Increasing prevalence of chronic diseases & rising penetration of hospital chains and specialty clinics are driving the growth in India Minimally Invasive Devices market in the forecast period, FY2023-FY2027.
According to TechSci Research report, “India Minimally Invasive Surgical Devices Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast, FY2017-FY2027”
India Minimally Invasive Devices market stood at USD641.60 million in FY2021 and is expected to grow at a steady CAGR of 5.94% during the forecast period. This can be attributed to the growing prevalence of chronic diseases such as cancer, cardiovascular diseases, gastrointestinal disorders, renal disorders, and urological problems. This has also significantly increased the volume of surgical procedures being performed, thereby driving the growth of India minimally invasive surgical devices market.
Additionally, the rising penetration of several corporate hospital chains along with specialty clinics such as bariatric surgery centers, gynecology & urology hospitals & clinics, orthopedic centers, among others across the country, especially in tier 1 and tier 2 cities is expected to drive the growth of India minimally invasive surgical devices market over the forecast Period. Plus, the growing penetration of health insurance plans is expected to positively influence the growth of India minimally invasive surgical devices market. The demand for minimally invasive surgeries and surgical devices is increasing in gynecology segment for the treatment of people suffering from wide range of non-cancerous gynecologic conditions such as menorrhagia, metrorrhagia, and pelvic pain. Additionally, the growing prevalence of polycystic ovarian syndrome and endometriosis has significantly increased the demand for minimally invasive gynecological procedures.
Apart from that, lack of specialized trainers and high cost of surgical devices is negatively influencing the minimally invasive surgical devices market in India.
Browse over 47 market data Figures spread through 118 Pages and an in-depth TOC on “India Minimally Invasive Surgical Devices Market”
India Minimally Invasive Surgical Devices market is segmented based on type, surgery type, end user, regional distribution, and company. In terms of type, the market can be divided into handheld instruments, surgical scopes, cutting instruments, guiding devices, electrosurgical devices, and others. The surgical scopes segment dominated the market in 2021 with a share of approximately 22.83% because these Surgical scopes are commonly used in all types of surgeries and are less expensive as compared other surgical devices. In terms of surgery type, the market can be categorized into gastrointestinal, gynecology, urology, cardiovascular, and others. the cardiovascular diseases are dominate the market as heart diseases is the leading causes of death in India. in terms of end user, the market is divided into hospitals & specialty clinics, ambulatory surgical centers, and others. The hospitals & specialty clinics segment dominates the market as most of the surgeries take place in hospitals & specialty clinics.
Key market players in the India minimally invasive surgical devices market include:
· India Medtronic Private Limited
· Olympus Medical Systems India Private Limited
· Fujifilm India Private Limited
· Johnson & Johnson Medical India Limited
· Stryker India Private Limited
· Smith & Nephew Healthcare Pvt. Ltd.
· KARL STORZ Endoscopy India Pvt. Ltd.
· Om Surgicals Private Limited
· Western Trading Company
· Advin Healthcare Private Limited
The India minimally invasive surgical devices market is consolidated with a lot of well-established players having presence in India. India Medtronic Private Limited holds the highest market share and is among the top five market players. Olympus Medical Systems India Private Limited ranks second in terms of market share in India minimally invasive surgical devices market. The company has a strong presence in India and a huge brand value.
Additionally, there are other prominent players such as Fujifilm India Private Limited, Johnson & Johnson Medical India Limited, Stryker India Private Limited, Smith & Nephew Healthcare Pvt. Ltd., KARL STORZ Endoscopy India Pvt. Ltd., Om Surgicals Private Limited, Western Trading Company and Advin Healthcare Private Limited, which hold a significant position in the minimally invasive surgical devices market in India.
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“In West, Maharashtra, Gujarat and Rajasthan are among the top 3 states which will register the fastest CAGR during the forecast period. This can be attributed to the large and growing prevalence of chronic diseases such as cancer, cardiovascular diseases, gastrointestinal disorders, renal disorders, and urological problems in the western region of the country. Additionally, supportive government policies and healthcare schemes launched in India are expected to support the market growth. Plus, various factors such as less operative pain, faster recovery, reduced risk of infection are some other factors contributing to the growth of minimally invasive surgical devices Market in India.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“India Minimally Invasive Surgical Devices Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast, FY2017-FY2027 Segmented By Type (Handheld Instruments, Surgical Scopes, Cutting Instruments, Guiding Devices, Electrosurgical Devices, Others), By Surgery Type (Gastrointestinal, Gynecology, Urology, Cardiovascular, Others), By End User (Hospitals & Specialty Clinics, Ambulatory Surgical Centers, Others), By Region,” has evaluated the future growth potential of India Minimally Invasive Surgical Devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Minimally Invasive Surgical Devices Market.
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