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
Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, India Minimally Invasive
Surgical Devices Market has valued at USD 704.17 million in 2023 and is
anticipated to witness an impressive 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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