Indian Laparoscopy Devices Market Value to hit $811 million by 2023 | Boston Scientific Corporation, Stryker Corporation

The laparoscopy devices market is expected to register a significant growth rate, owing to the increase in demand for minimally invasive surgeries coupled with high precision offered by these devices. In addition, rise in preference for medical tourism, India has become an attractive destination to perform laparoscopic surgery at economical cost. In addition, technologically advanced laparoscopy devices supplement the market growth.

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The Indian laparoscopy devices market was valued at $490 million in 2016, and is projected to reach $811 million by 2023, growing at a CAGR of 7.3% from 2017 to 2023. The energy devices segment accounted for one fourth share of the total market in 2016.

Covid-19 scenario:

• Some of the laparoscopic and surgical services have been postponed during the coronavirus pandemic. The services will be made available for patients who are suffering from life threatening conditions.
• The rules and regulations have been tightened by the government regarding working of medical staff. The staff is advised to offer training through online resources.
• Manufacturing of devices has been stopped to avoid the social gathering during the lockdown.

Laparoscopy is a minimally invasive surgical procedure that assists in the diagnosis of various abdominal and pelvic disorders, such as cysts, adhesions, fibroids, and infection that occurs in the female pelvic organs. Laparoscopy is also known as keyhole surgery, and it is performed by creating a small incision. Laparoscopes are inserted through a small incision in the abdomen, which captures pictures of the abdominal organs. This procedure also assists in performing a biopsy of tissues and surgeries, such as cholecystectomy (laparoscopic gallbladder surgery), appendectomies (removal of appendix) and anti-reflux surgery, treatment for acid reflux, also known as GERD (gastroesophageal reflux disease).

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Indian laparoscopic devices market is fueled by the growing number of minimally invasive procedures along with the rising disposable income. In addition, rise in the number of obese population, growth in laparoscopic-based bariatric surgeries for weight reduction will supplement the growth of Indian laparoscopy devices market. However, lack of awareness regarding newly developed laparoscopy products along with unfavorable reimbursement policies will restraint market growth. Moreover, the growing investments and funding in healthcare sector will certainly create many lucrative opportunities for various regional key players in this market.

The robot-assisted surgeries segment is anticipated to grow with a high CAGR of 8.1% during the forecast period. This is attributed to the fact that robot-assisted laparoscopic surgeries are becoming a preferred modality over open surgeries as the former offers greater visualization, enhanced dexterity, and greater precision.

Bariatric surgery application accounts for about two-ninths of the total share in 2016, driven by the growth in number of surgeries, such as gastric bypass, sleeve gastrectomy, and gastric banding. The growth in obese patients is expected to increase chances of related diseases, such as cardiovascular diseases, cancer, osteoarthritis, and diabetes, in turn increasing the demand for laparoscopic based bariatric surgery in India.

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The Major Key Players Are:

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.), and Dolphin Surgicals.

The other Key players Are:

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.

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