Please Wait.....
Report
India Minimally Invasive Surgery Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Indian market for minimally invasive surgery devices is expected to register a CAGR of 7.6% over the forecast period.
The market has been impacted by the pandemic, and various research studies have provided insight into the effects on several surgical procedures. According to the study published in the African Journal of Urology, in July 2021, during the COVID-19 lockdown, the number of urology patients admitted indoors dropped by 93.86% in India. Stone disease, hematuria, and malignancy accounted for 53.65%, 15.85%, and 9.75% of indoor admissions. The drop in stone disease patients during the pandemic led to decreased adoption of minimally invasive devices, which hindered the market's growth. However, initiatives such as product launches by key market players are expected to boost the market's growth. For instance, in January 2021, SSI Innovations launched its SSI multi-arm novel telerobotic assistance surgical system in India. Such product launches are expected to increase surgical success, which is expected to increase its adoption, thereby boosting the market's growth during the forecast period.
The increasing prevalence of lifestyle-related and chronic disorders is one of the key factors boosting the market growth. For instance, as per the ICMR 2021 Report, it has been observed that the number of cancer patients in India was expected to rise from 26.7 million in 2021 to 29.8 million in 2025. Increasing cancer cases are expected to increase the demand for its treatment which may involve surgical treatment for patients which is expected to increase the market growth over the forecast period. Increasing road accidents are also another factor in market growth. For instance, the article published in Europe PMC in June 2021 stated that pertrochanteric fractures were observed in 72.8% of the patients, while neck femur fractures were observed in 27%. The report also mentioned that 21.2% were injured because of road traffic accidents. Such a prevalence of hip fractures is expected to drive the demand for surgeries, thereby contributing to the growth of the market during the forecast period. Initiatives by key market players are another factor in market growth. For instance, in September 2021, Hugo's robotic-assisted surgery (RAS) system's first clinical procedure in Asia-Pacific by Medtronic PLC was carried out on the robotic prostatectomy at Apollo Hospitals in Chennai, India. Such factors are expected to augment the market growth.
However, the lack of skilled professionals and stringent regulatory frameworks are expected to hinder the market growth.
India Minimally Invasive Surgery Devices Market Trends
Aesthetic Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as increasing obesity, investments, and awareness are expected to boost the segment's growth. Investments in medical devices are increasing in India, which is anticipated to create opportunities for market growth. The India Brand Equity Foundation's December 2021 update showed that the growth of the Indian market for medical devices was mostly driven by 75-80% imports from countries such as the United States, China, and Germany. In recent times, however, exports have increased. The Atma Nirbhar Bharat mission is providing momentum to India's vision of becoming a global manufacturing hub for medical devices, which is expected to fuel market growth.
Increasing obesity is another factor in market growth. An article presented in the journal of Neurosciences in May 2021 indicated that the prevalence of obesity in India was 40.3%. The large concentration of people affected by obesity in the country is likely to propel the growth of the market during the forecast period, as people with obesity often undergo aesthetic surgeries. The Indian Society of Aesthetic Medicine conducted the "World Congress of Aesthetic Medicine" in June 2022, in which state-of-the-art aesthetic devices, including their management and progress, were discussed. Such seminars, which showcase awareness about medical aesthetic devices, are expected to propel the growth of the market during the forecast period.
Thus, the abovementioned factors are expected to increase market growth during the forecast period.
Robotic Assisted Surgical Systems is Expected to Witness Significant Growth Over the Forecast Period
Factors such as increasing fractures and initiatives by key market players are expected to increase the market's growth. The article published in the National Library of Medicine in June 2021 mentioned that pertrochanteric fractures were observed in 72.8% of the patients, while neck or femur fractures were observed in 27% of the patients. The report also mentioned that 21.2% were injured as a result of road traffic accidents. Such prevalence of hip fractures is expected to drive the demand for robotic-assisted surgeries, thereby contributing to the growth of the market during the forecast period.
Product launches are a key factor in market growth as they imply an increase in the adoption of technology. For instance, in November 2022, Intuitive installed its hundredth robotic-assisted surgical system in India at the U.N. Mehta Institute of Cardiology, the country's largest cardiac center. In June 2021, Intuitive India, the India arm of Intuitive, a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery (RAS), launched India's first robotic-assisted surgical stapler called SureForm. Similarly, in April 2022, the Versius Robotic surgical system was launched at the Nephro-Urology hospitals in Bengaluru. Such product launches are expected to boost segmental growth in the country.
India Minimally Invasive Surgery Devices Market Competitor Analysis
The market studied is moderately competitive. There are several international and local companies in India that provide minimally invasive surgery (MIS) options. The major players in the market studied are Abbott Laboratories, GE Healthcare, Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens AG, Smith & Nephew PLC, Stryker Corporation, and Zimmer Biomet.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand of Minimally-invasive Surgeries Over Traditional Surgeries
4.2.2 Rising Prevalence of Lifestyle-related and Chronic Disorders
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.3 Electrosurgical Devices
5.1.4 Endoscopic Devices
5.1.5 Robotic Assisted Surgical Systems
5.1.6 Ablation Devices
5.1.7 Other MIS Devices
5.2 By Application
5.2.1 Aesthetic
5.2.2 Cardiovascular
5.2.3 Gastrointestinal
5.2.4 Gynecological
5.2.5 Orthopedic
5.2.6 Urological
5.2.7 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 GE Healthcare
6.1.3 Koninklijke Philips NV
6.1.4 Medtronic PLC
6.1.5 Olympus Corporation
6.1.6 Siemens AG
6.1.7 Smith & Nephew PLC
6.1.8 Stryker Corporation
6.1.9 Zimmer Biomet
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security