The India minimally invasive surgery devices market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to development of advanced devices, rising healthcare expenditure, increasing government initiatives, and growing cases of injuries and accidents.
Surgical devices are instruments and tools that carry out such operations as grasping, retracting, dissecting, provide access to internal organs, holding, cutting, suturing, and modifying biological tissue. Many surgical instruments are manufactured from stainless steel. Other alloys and metals such as vitallium and titanium are also utilized.
The Covid-19 pandemic affected the demand and supply of India minimally invasive surgery devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing outpatient surgeries is projected to boost the market in the coming years.
- Rising minimally invasive surgical procedures is major factor fueling the market during the forecast period.
- High cost of surgery devices is anticipated to hamper market growth.
- Lack of skilled technicians to operate surgical devices is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in minimally invasive surgery devices is projected to create lucrative opportunities for the market players.
Scope of the Minimally Invasive Surgery Devices Market Report
The report on the India minimally invasive surgery devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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India Minimally Invasive Surgery Devices Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Products (Robotic Assisted Surgical Systems, Guiding Devices, Electro Surgical Devices, Ablation Devices, Handheld Instruments, Endoscopic Devices, and Other Products), Applications (Urological, Aesthetic, Orthopedic, Cardiovascular, Gynecological, Gastrointestinal, and Others)
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Country Scope
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India
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Zimmer Biomet; Smith & Nephew plc; Olympus Corp.; Koninklijke Philips NV; Abbott Laboratories; Medtronic PLC; GE Healthcare; Siemens AG; and Stryker Corp.
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Minimally Invasive Surgery Devices Market Segment Insights
The handheld instruments segment accounts for a key share of the market and expected to grow at a rapid pace
Based on products, the India minimally invasive surgery devices market is divided into robotic assisted surgical systems, guiding devices, electro surgical devices, ablation devices, handheld instruments, endoscopic devices, and other products. The handheld devices segment accounts for a key share of the market. Growth of the market is attributed to the increasing adoption of general surgical devices for diagnosis and treatment, rising prevalence of cardiac disease, unhealthy lifestyles, rising elderly population, and increasing number of treatments. However, the electro surgical devices are anticipated to expand at a rapid pace during the forecast period due to increasing patient pool, rising geriatric population, and increasing preference for minor invasive surgeries.
The gastrointestinal segment is anticipated to hold a major market share during the forecast period
Based on applications, the market is fragmented into urological, aesthetic, orthopedic, cardiovascular, gynecological, gastrointestinal, and others. The gastrointestinal segment is anticipated to hold the major market share during the forecast period. Growth of the market is attributed to rising population, increasing disposable income, and growing awareness among population. However, the cardiovascular segment is anticipated to expand at a rapid pace during the forecast period due to factors such as international companies attracting many investors, technological innovations in surgical devices, and increasing adaptation of stem cell technologies.
Geographical Outlook
The India minimally invasive surgery devices market is anticipated to expand at significant CAGR in the coming years, owing to increasing investment in health care sector and rising adaptation of 3D printing technologies. In addition, shorter recovery time & minimal postoperative complications, compensation policies pertaining to surgical devices in developed economies, favorable FDA approvals, and surge in patient preference for minor invasive surgeries are driving the market. However, high cost of general surgical devices and lack of trained professionals & technicians are projected to restrict growth of the market. On the contrary, unsatisfied medical demands in developing sectors are anticipated to give lucrative opportunities for market expansion.
Segments
The India minimally invasive surgery devices market has been segmented on the basis of
Products
- Robotic Assisted Surgical Systems
- Guiding Devices
- Electro Surgical Devices
- Ablation Devices
- Handheld Instruments
- Endoscopic Devices
- Other Products
Applications
- Urological
- Aesthetic
- Orthopedic
- Cardiovascular
- Gynecological
- Gastrointestinal
- Others
Country
Key Players
Competitive Landscape
Key players competing in the India minimally invasive surgery devices market include Zimmer Biomet; Smith & Nephew plc; Olympus Corp.; Koninklijke Philips NV; Abbott Laboratories; Medtronic PLC; GE Healthcare; Siemens AG; and Stryker Corp.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.
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