Indian Laparoscopy Devices Market - Growing Government Investments and Technological Advancements in Laparoscopy Surgeries Are Increasing the Market Growth
Laparoscopy is a minimally invasive surgical procedure that helps to diagnose a variety of abdominal and pelvic conditions, including cysts, adhesions, fibroids in the uterus, and infections in the female pelvic organs. Laparoscopy is also known as keyhole surgery and is performed by creating small incisions.
A laparoscope is inserted through a small incision in the abdomen to take a picture of the abdomen. This procedure helps to perform tissue and surgical biopsy such as cholecystectomy (laparoscopic cholecystectomy), appendectomy (removal of appendix) and reflux surgery, acid reflux therapy (also called GERD).(Gastroesophageal reflux disease).
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The Indian laparoscopic device market is on the rise with increasing disposable incomes and an increase in minimally invasive procedures. In addition, the growth of obesity population, the growth of laparoscopic-based bariatric surgery for weight loss will complement the growth of the Indian laparoscopy device market.
However, lack of awareness and adverse reimbursement policies for newly developed laparoscopic products will inhibit market growth. In addition, with increased investments in healthcare and funding, there will be opportunities to earn significant revenues from key local customers in various markets in the market.
The report provides a comprehensive analysis of the key players operating in the Indian laparoscopic devices market such as
• Johnson & Johnson (Ethicon Inc.)
• Olympus Corporation
• Medtronic PLC. (Covidien)
• Boston Scientific Corporation
• Stryker Corporation
• Karl Storz GmbH & Co.KG
• Smith & Nephew PLC.
• Richard Wolf GmbH
• B. Braun Melsungen AG (Aesculap Inc.)
• Dolphin Surgicals
The other players in the value chain of the Indian laparoscopy devices market include Medical Equipment India (MEI), Universe Surgical Equipment Co., Xcellance Medical Technologies Pvt Ltd., Hospiinz International, INDIA PRIVATE LIMITED, Bharat Surgical Co, Masppo Medical Devices, Hib Surgicals, SI Surgical Pvt. Ltd, and Jay Shakti Industries.
The robotic surgery sector is expected to grow at a CAGR of 8.1% over the forecast period. This is due to the fact that robot-assisted laparoscopic surgery is becoming the preferred method of open surgery. This is because previous surgery has excellent visual effects, high dexterity and high accuracy.
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Bariatric surgical applications account for approximately two-ninths of the total share in 2016, driven by increased number of surgeries such as gastric bypass, sleeve gastrectomy and gastric banding. The growth of obese patients is expected to increase the likelihood of related diseases such as cardiovascular disease, cancer, osteoarthritis and diabetes, and increase demand for laparoscopic-based obesity surgery in India.
Key Findings of the Indian Laparoscopy Devices Market:
• The access devices segment holds significant share in the Indian laparoscopy devices market accounting for one-seventh share of the total Indian market in 2016.
• The hernia repairs segment is expected to grow with a high CAGR of 7.1% during the forecast period.
• Cholecystectomies segment dominated the Indian laparoscopy devices market accounting for two-third share of the total Indian market in 2016.
• Gastric bypass segment dominated the Indian laparoscopy devices market accounting for half share of the total Indian market.
• Sleeve gastrectomies segment is expected to grow at highest rate, registering a CAGR of 9.0% from 2017-2023.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain
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