India Minimally Invasive Surgery Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Minimally Invasive Surgery Devices Market Analysis
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
This section covers the major market trends shaping the India Minimally Invasive Surgery Devices Market according to our research experts:
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 Industry Overview
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.
India Minimally Invasive Surgery Devices Market Leaders
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Olympus Corporation
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GE Healthcare
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Medtronic PLC
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Siemens AG
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Smith & Nephew PLC
*Disclaimer: Major Players sorted in no particular order
India Minimally Invasive Surgery Devices Market News
- June 2022: Medtronic India launched a CE-marked fourth-generation flow diverter, Pipeline Vantage, with Shield Technology for the endovascular treatment of brain aneurysms in India.
- May 2022: Argon Medical, the market leader in specialty medical devices such as guide wires, IVC filters and retrievals, bone and soft tissue biopsy needles, and other products, and Terumo India, the Indian division of Terumo Corporation, signed a collaboration agreement.
India Minimally Invasive Surgery Devices Market Report - Table of Contents
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
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4.3 Market Restraints
- 4.3.1 Lack of Skilled Professionals
- 4.3.2 Stringent Regulatory Framework
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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)
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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
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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
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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
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIndia Minimally Invasive Surgery Devices Industry Segmentation
Minimally-invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment used during minimally-invasive procedures.
The Indian market for minimally invasive surgery devices is segmented by product (handheld instruments, guiding devices, electrosurgical devices, endoscopic devices, robotic-assisted surgical systems, ablation devices, and other MIS devices) and application (aesthetic, cardiovascular, gastrointestinal, gynecological, orthopedic, urological, and other applications). The report offers the values (in USD million) for the above segments.
| By Product | Handheld Instruments |
| Guiding Devices | |
| Electrosurgical Devices | |
| Endoscopic Devices | |
| Robotic Assisted Surgical Systems | |
| Ablation Devices | |
| Other MIS Devices | |
| By Application | Aesthetic |
| Cardiovascular | |
| Gastrointestinal | |
| Gynecological | |
| Orthopedic | |
| Urological | |
| Other Applications |
India Minimally Invasive Surgery Devices Market Research FAQs
What is the current India Minimally Invasive Surgery Devices Market size?
The India Minimally Invasive Surgery Devices Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)
Who are the key players in India Minimally Invasive Surgery Devices Market?
Olympus Corporation, GE Healthcare, Medtronic PLC, Siemens AG and Smith & Nephew PLC are the major companies operating in the India Minimally Invasive Surgery Devices Market.
What years does this India Minimally Invasive Surgery Devices Market cover?
The report covers the India Minimally Invasive Surgery Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Minimally Invasive Surgery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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