India Minimally Invasive Surgical Instruments Market to Surpass $ 880 Million by 2026
Growing technological advancements in healthcare sector to
drive India minimally invasive surgical instruments market
According
to TechSci Research report, “India Minimally Invasive Surgical Instruments Market By Type, By
Application, By End-User, By Region, Competition, Forecast & Opportunities,
FY2026”, India minimally invasive surgical instruments market is forecast
to reach $ 880 million by FY 2026. Key
factor behind the growth of India minimally invasive surgical instruments
market is lower cost than conventional open surgeries. Moreover, these kinds of
surgeries involve minimal cuts or stitches, which enables patients to stay in
hospital for a shorter period. Additionally, minimally invasive surgeries cause
less damage to the tissues, which is anticipated to boost the growth of market
in the years to come. However, surgeons need special training before they can
perform minimally invasive surgeries. Along with this, reimbursement challenges
and uncertain regulatory framework in medical devices market are some major
factors that might act as major impediments to the growth of India minimally
invasive surgical instruments market in the coming years.
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The India minimally invasive
surgical instruments market is segmented based on type, application, end-users, and region. Based on end-user, the minimally invasive surgical devices market is
segmented into hospitals and surgical centers. Out of these, the hospitals
segment held the majority share in the market until FY2019 and the segment is
further forecast to maintain its leading position over the next five years as
well, which can be attributed to the fact that large number of minimally
invasive surgical procedures are performed in hospitals owing to the presence
of highly skilled healthcare professionals. Moreover, Hospitals, whose
reimbursement are being increasingly impacted by quality measures and
episode-of-care payments prefer minimally invasive surgical devices because of
their significant benefits. Based on type, the market is segmented into
endoscopes, laparoscopy instruments, electrosurgery, and others. Among them,
the endoscopes segment dominated the market in FY2019 and is anticipated to hold
its leading position over the coming years as well due to technological
innovations and rapid adoption in minimally invasive surgeries. Additionally,
these kinds of devices provide easier access during surgeries thereby reducing
the risk of potential mistakes.
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India Medtronic Pvt. Ltd., Johnson
& Johnson Private Limited, Stryker India Pvt. Ltd, B.Braun Medical India
Pvt.Ltd., Abbott India Limited, Smith & Nephew Healthcare Pvt Ltd, Zimmer
Biomet India, Boston Scientific India Pvt Ltd, Becton Dickinson Private Limited,
and Conmed Linvatec India Pvt Ltd are some of the leading players
operating in India minimally invasive surgical instruments market. “India minimally invasive surgical
instruments market is forecast to register growth until FY2026 as the key
market players are trying to capture the untapped market segments by
introducing innovative products such as surgical robots, etc. Moreover, rising
medical tourism in the country is expected to positively influence the market
growth in the coming years. Furthermore, rising geriatric population is further
anticipated to positively boost market growth through FY2026.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based India management consulting firm.
“India Minimally Invasive Surgical Instruments
Market By Type, By Application, By End-User, By Region, Competition, Forecast
& Opportunities, FY2026” has
evaluated the future growth potential of India minimally invasive surgical
instruments 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 instruments market.
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