by The global India Electrosurgical Devices Market is estimated to be valued at US$ 200.1 million in 2021 and is expected to exhibit a CAGR of 7.2% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Electrosurgical devices are widely used in surgical procedures to cut, coagulate, desiccate, and fulgurate tissue. These devices use high-frequency electrical energy to perform various surgical procedures with precision and minimal blood loss. The India Electrosurgical Devices Market is witnessing significant growth due to the increasing number of surgical procedures in the country and advancements in technology. The use of electrosurgical devices offers numerous benefits such as reduced risk of infection, shorter hospital stays, and faster recovery times, which are driving their adoption in the healthcare sector.
Market Dynamics:
The India Electrosurgical Devices Market is driven by two primary factors: increasing number of surgical procedures and technological advancements.
1. Increasing Number of Surgical Procedures:
The rising prevalence of chronic diseases, such as cardiovascular diseases, cancer, and gastrointestinal disorders, has led to an increase in surgical interventions. Electrosurgical devices are extensively used in various surgical procedures, such as laparoscopic surgeries, cardiovascular surgeries, and cosmetic surgeries, among others. The demand for these devices is expected to increase due to the growing geriatric population, which is more susceptible to chronic diseases and requires surgical interventions.
For example, according to the National Cancer Registry Program of India, the number of cancer cases in the country is expected to increase to around 17.3 lakh by 2020. This rise in the number of cancer cases will drive the demand for electrosurgical devices for cancer surgeries.
2. Technological Advancements:
Technological advancements in electrosurgical devices have improved surgical outcomes and patient safety. The introduction of advanced energy systems, such as radiofrequency ablation, ultrasonic energy, and advanced bipolar devices, has enhanced surgical precision and reduced the risk of complications. These devices provide better tissue dissection, improved hemostasis, and reduced thermal damage to surrounding tissues.
For instance, Medtronic’s LigaSure technology uses a combination of pressure and thermal energy to create vessel fusion, resulting in faster healing, reduced blood loss, and less scarring. Such advancements in technology are driving the adoption of electrosurgical devices in surgical procedures.
SWOT Analysis:
Strength: Rising demand for surgical procedures and advancements in technology.
Weakness: High cost of electrosurgical devices and lack of skilled professionals.
Opportunity: Untapped market potential in rural areas and increasing medical tourism.
Threats: Stringent regulations and increasing competition among key players.
Key Takeaways:
– The India Electrosurgical Devices Market Growth is expected to witness high growth, exhibiting a CAGR of 7.2% over the forecast period, due to the increasing number of surgical procedures and technological advancements.
– Regional Analysis: South India is expected to dominate the market due to the presence of a large number of hospitals and healthcare infrastructure. However, North India is projected to be the fastest-growing region due to the rising medical tourism and investments in healthcare infrastructure.
– Key players operating in the India Electrosurgical Devices Market include Medtronic plc., CONMED Corporation, Ethicon, Inc., Symmetry Surgical Inc., B. Braun Melsungen AG, Olympus Corporation, Erbe Elektromedizin GmbH, Innoblative Designs, Inc., Stryker Corporation, OmniGuide Inc., and PENTAX Medical. These players are focusing on product innovations, partnerships, and mergers to strengthen their market presence and expand their product offerings.
In conclusion, the India Electrosurgical Devices Market is poised for significant growth in the coming years due to the increasing number of surgical procedures and advancements in technology. The market offers lucrative opportunities for key players, especially in rural areas and medical tourism. However, the market also faces challenges such as high costs and the need for skilled professionals. Overall, the market presents a promising outlook for stakeholders in the healthcare industry.
