May 25, 2024
India Electrosurgical Devices Market

India Electrosurgical Devices Market is Estimated to Witness High Growth Owing to Increasing Healthcare Expenditure

The electrosurgical devices market in India has witnessed significant growth over the past few years. Electrosurgical devices are used in surgical procedures for the coagulation and cutting of tissues and vessels. The increasing volume of surgeries like cardiac, cosmetic, orthopedic, and gastrointestinal procedures have fuelled the demand for electrosurgical devices in India. These devices provide benefits like minimal blood loss, reduced operation time, and less need for sutures or staples. With the growing healthcare expenditure in India and expansion of medical tourism, the demand for electrosurgical devices is expected to rise substantially during the forecast period.

The Global India Electrosurgical Devices Market is estimated to be valued at US$ 264.91 Mn in 2024 and is expected to exhibit a CAGR of 2.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the India electrosurgical devices are First Care Products, TyTek Group., PerSys Medical, IBC, and H&H Medical Corporation.

The market provides various opportunities for manufacturers like development of advanced bipolar devices, portable electrosurgical units and devices integrated with robotics. With rising medical tourism and investment in healthcare infrastructure, India is emerging as a major destination for elective surgeries. This will drive increased adoption of electrosurgical devices in the country.

Many global players are strengthening their presence in India through acquisitions and partnerships with local players. This allows them to gain access to India’s large population and growing medical needs. International suppliers are also expected to expand their product portfolio suited for Indian hospitals and clinics.

Market Drivers

The rising healthcare expenditure in India is one of the major drivers of the India Electrosurgical Devices Market Size. Both public and private healthcare spending in India is increasing at a robust pace which is enabling more people to afford quality surgical treatments. This expands the potential consumer base for electrosurgical products. Growing medical tourism is also boosting the surgical procedures volume in India, thereby augmenting the demand for electrosurgical devices over the forecast period.

PEST Analysis

Political: Medical device industry regulations in India are governed by the Drugs and Cosmetics Act. The government supports the healthcare sector through public funding which positively impacts market growth.

Economic: Rising patient disposable incomes, government initiatives to increase healthcare spending, and increasing insurance coverage are driving the growth of the electrosurgical devices market in India.

Social: Increase in lifestyle diseases like cancer due to changing dietary patterns and prevalence of risk factors like smoking and alcohol consumption are contributing to the demand for electrosurgical procedures in India.

Technological: Advancements in monopolar and bipolar devices allow for precise surgery with minimal scarring and reduced pain and recovery time. Developments in plasma surgery technique provide enhanced visualization and control over conventional electrosurgery.

Around 45% of the market value is concentrated in Southern India primarily due to higher healthcare infrastructure and accessibility in states like Telangana, Karnataka, and Tamil Nadu. With improving healthcare facilities in rural areas, the market is witnessing faster growth in Eastern India states like Bihar and West Bengal.

The North Indian states comprising Delhi, Uttar Pradesh, Rajasthan, Haryana and Punjab account for around 30% share of the overall market value. This region presents significant opportunities for growth driven by increasing medical tourism and rising healthcare expenditures.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it