Market Size of India Endoscopy Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.38 Billion |
| Market Size (2029) | USD 1.93 Billion |
| CAGR (2024 - 2029) | 6.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Endoscopy Devices Market Analysis
The India Endoscopy Devices Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 1.93 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).
Endoscopes are minimally-invasive devices that can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. The endoscopic surgeries are performed for imaging procedures and minor surgeries as well.
The COVID-19 outbreak negatively impacted the Indian healthcare sector as it decreased the number of surgeries performed, international patient visits, and outpatient department (OPD) footfall. The country's imported consumables, disposables, and capital equipment, including endoscopy devices, are negatively affected due to supply chain issues. Additionally, the devices were not used at their 100% capacity. For instance, in July 2020, a paper published in the National Library of Medicine titled 'Impact of COVID-19 on gastrointestinal endoscopy practice in India: a cross-sectional study' stated that, in India, the endoscopy units are performing fewer than 10% of their usual volumes due to the limited resources during the pandemic, such as negative pressure rooms. Similarly, in May 2020, another paper titled 'COVID-19 testing before every endoscopy: Is India ready for prime time?' stated that the cost of an average upper GI endoscopy in India is between INR 2000 and INR 4000 (USD 30 - USD 60). However, PCR testing costs are higher than endoscopy, thus reducing the footfall for endoscopy services. However, with the increased vaccination programs and other initiatives, the Indian market is growing.
The increasing prevalence of endoscopy surgeries for treatment and diagnosis and technological advancements are leading to enhanced applications, augmenting the market's growth. In October 2020, Olympus Corporation, in cooperation with the Ministry of Internal Affairs and Communications (MIC), conducted a study titled " Survey Study for International Expansion of AI Diagnosis Support System Using Ultra-High Magnifying Endoscopes in India". The study aims to develop advanced endoscopy diagnostics in India, where there are relatively few endoscopists. In collaboration with Cybernet Systems Co. Ltd, Olympus established an AI diagnostic support system at a major medical institution, the Asian Institute of Gastroenterology (AIG), based in Hyderabad, India. Also, the growing awareness among the elderly population about minimally-invasive procedures and the rising prevalence of chronic diseases boost the demand for endoscopy devices further.
However, the lack of skilled technicians in the country is likely to hinder the market's growth.
