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India Minimally Invasive Surgical Devices Market to Grow at a steady CAGR of 5.59% During the Forecast Period

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the India Minimally Invasive Surgical Devices Market.

 

According to TechSci Research report, “India Minimally Invasive Surgical Devices Market - By Region, Competition, Forecast & Opportunities, 2029F”, the India Minimally Invasive Surgical Devices Market stood at USD 704.17 Million in 2023 and is anticipated to witness a steady growth in the forecast period with a CAGR of 5.59% through 2029. This can be due to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market. The treatment of urological and gynecological conditions is a significant driver of the demand for Minimally Invasive Surgical (MIS) Devices. Urological conditions are relatively common, affecting both men and women. These conditions include kidney stones, benign prostatic hyperplasia (BPH), urinary incontinence, urologic cancers, and more. Patients and healthcare providers often prefer less invasive treatment options for urological conditions. MIS techniques, such as endoscopic procedures, laparoscopy, and robot-assisted surgery, offer minimal scarring, shorter recovery times, and less pain. Gynecological conditions, such as uterine fibroids, endometriosis, pelvic organ prolapse, and abnormal uterine bleeding, are common among women of all ages. Many women facings gynecological conditions desire to preserve their fertility. Minimally invasive gynecological surgeries offer procedures like myomectomy (fibroid removal) and fertility-sparing options that allow for the preservation of reproductive health. Advancements in MIS have expanded the range of gynecological procedures that can be performed using less invasive techniques. These include laparoscopic and robotic-assisted surgeries for conditions like endometriosis.

 

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In December 2022, Abbott, the global healthcare company, has introduced its latest generation transcatheter aortic valve implantation (TAVI) system, NavitorTM, in India. This minimally invasive device is designed for individuals with severe aortic stenosis who are at high or extreme surgical risk. The Navitor valve is a significant advancement in TAVI (or TAVR) therapies and incorporates innovative features to prevent blood leakage around the valve. It expands Abbott's comprehensive portfolio of structural heart transcatheter solutions, providing less invasive options for heart disease treatment. Notably, Navitor includes a unique fabric cuff (NaviSeal) that works in harmony with the heart's cycle to reduce or eliminate paravalvular leak (PVL), a common complication after TAVI procedures. Navitor is the only self-expanding TAVI system with intra-annular leaflets within the native valve and large frame cells, improving access to coronary arteries for future interventions to address coronary artery disease (CAD). Furthermore, this new design enhances hemodynamics, optimizing blood flow.

Market competition is a challenge in the India Minimally Invasive Surgical (MIS) Devices Market. The MIS market in India is populated by multiple domestic and international companies, each offering a range of products and technologies. This diversity creates a highly competitive environment. Companies are continually investing in research and development to introduce newer and more advanced MIS devices. Staying competitive requires a commitment to innovation and the ability to adapt to evolving technology. Many international companies have a global presence and compete in multiple countries, including India. They often have substantial resources and a broad product portfolio. MIS devices are used in various medical specialties, such as urology, gynecology, orthopedics, and cardiology. Competition exists within each specialty area as companies strive to provide specialized solutions. Price competition is common in the MIS market. Companies may reduce prices to gain market share, which can put pressure on profit margins and create challenges for companies with higher production costs. India Minimally Invasive Surgical Devices Market is segmented based on Type, Surgery Type, End-user, and by region.

Based on the Type, India Minimally Invasive Surgical Devices Market is segmented into Handheld Instruments, Surgical Scopes, Cutting Instruments, Guiding Devices, Electrosurgical Devices, Others. Cutting instruments in Minimally Invasive Surgical (MIS) Devices are specialized tools used by surgeons to make precise incisions, dissect tissues, and remove pathological structures during minimally invasive procedures. These cutting instruments are designed to be small, precise, and often feature advanced technology to ensure accuracy and safety. Cutting instruments in MIS are chosen based on the specific procedure, the type of tissues being cut, and the surgeon's preferences. Their precise and controlled cutting capabilities are essential for minimizing tissue trauma, reducing blood loss, and achieving surgical objectives while leaving minimal scarring. These instruments are a crucial component of the toolkit used in minimally invasive surgical procedures, offering significant benefits to patients in terms of reduced post-operative pain and faster recovery.

Based on Region, North India held the largest share in the India Minimally Invasive Surgical Devices Market. North India has a concentration of specialized healthcare providers that offer a wide range of minimally invasive surgeries, including those for cardiac, gastrointestinal, urological, and orthopedic conditions. The region attracts skilled and experienced healthcare professionals, including surgeons and specialists, who are well-versed in performing MIS procedures. Some state governments in North India have initiated healthcare programs and policies to improve healthcare delivery and infrastructure. These initiatives can boost the adoption of MIS techniques. There is a growing awareness among the population about the benefits of minimally invasive surgeries, such as reduced scarring, shorter hospital stays, and faster recovery. This awareness has increased patient demand for MIS procedures. North India's geographical proximity to countries like Nepal and Bhutan makes it a convenient choice for patients from these neighboring nations, contributing to the region's prominence in medical tourism.

 

Some of the major companies operating 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

 

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“Certain areas, particularly in North America, are projected to exert significant demand for Minimally Invasive Surgical Devices. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the India Minimally Invasive Surgical Devices Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

India Minimally Invasive Surgical Devices  Market 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, By Competition Forecast & Opportunities, 2019-2029F 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 innovative 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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