India General Surgical Devices Market Trends, Industry 2030

Report Description

The India general surgical devices market size is projected to expand at a considerable CAGR of 6.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for minimal invasive surgeries, rising prevalence of chronic diseases, and increased spending on healthcare.

Surgical devices are devices that are used for performing various tasks such as dissecting, making incisions, holding a tissue to provide access to the affected place, and suturing or modifying biological tissue. With time, many kinds of surgical devices and tools have been developed, some of them of a more general character, others are designed for a specific type of surgery

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The different types of surgical instruments are for dilating and probing, for measuring, and then there are micro-instruments and powered instruments. In today’s world, the conventional open surgical methods are being replaced by minimally invasive surgical procedures in which a small cut is made then a rigid or non-rigid endoscope is inserted, allowing internal video imaging.

India’s healthcare sector is one of the largest both in terms of revenue and employment. The country’s healthcare sector is also fastest growing due to its increasing population, growing medical awareness, and its large pool of well-trained medical professionals which gives the country a competitive advantage. Country also showcases increasing number of people being diagnosed with chronic diseases, most of which will need surgical intervention during their lifetime.

According to a Longitudinal Ageing Study in India published by the Union Ministry of Family and Health Welfare in January 2020, nearly 70% of senior citizens in the country suffer from at least one chronic illness, while around 23% of the elderly population who are aged 60 years and above have multiple morbidities.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing healthcare spending owing to rise in per capita income and growing demand for minimally invasive surgeries are anticipated to drive the market growth during the forecast period.
• Rapid growth of the healthcare sector in the past decade and the onset of covid 19 pandemic are the key factors expected to propel the market expansion in the coming years.
• High costs associated with the procurement and maintenance of these surgical devices are projected to hamper the market growth in the coming years.
• Lack of awareness attributed to surgical procedures, high cost of healthcare services, and poor healthcare insurance infrastructure posses as key challenges that can restrict the market expansion during the forecast period.
• R&D investment, technological advancement, and various government initiatives associated to develop the surgical devices industry in the country under the “make in India” scheme is anticipated to offer significant opportunities for the market players.

Scope of the Report

The report on the India general surgical devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Laparoscopic devices segment to exhibit high CAGR

Based on products, the India general surgical devices market is segmented into laparoscopic devices, handheld devices, electro surgical devices, wound closure devices, trocars and access devices, and others. The laparoscopic devices segment is projected to expand at a significant CAGR during the forecast period owing to rapid growth in demand for minimally invasive surgery for surgical interventions among the patients suffering from Crohn’s disease, ulcerative colitis, diabetic ulcers, and obesity.

Laparoscopy is a minimally invasive procedure used to examine organs inside the abdomen or pelvic cavities by inserting a laparoscope through a small incision in the abdomen. They are preferred by surgeons and physicians due to high level of precision and safety offered by these surgical devices, some of the benefits include reduced pain due to smaller incisions, shorter recovery time, and reduced hemorrhaging.

 General surgery segment is anticipated to account for major market share

Based on applications, the India general surgical devices market is segregated into general surgery, cardiology, orthopedic, gynecology and urology, neurology, and others. General surgery segment is anticipated to account for major market share. The segment growth is attributed to growing cases of chronic illness among the population such as diabetes, gastro reflux diseases, gallstones, hernia, and appendectomies. On the other hand, the orthopedic segment is expected to grow at a considerable pace in the coming years owing to rise in adoption of laparoscopic procedures in orthopedic surgical interventions and also due to technological advancements in recent years.

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