Market Trends of India General Surgical Devices Industry
This section covers the major market trends shaping the India General Surgical Devices Market according to our research experts:
Orthopedic Segment is Expected to Register a Significant Market Share Over The Forecast Period
The orthopedic segment is expected to hold a significant market share owing to the increasing prevalence of orthopedic diseases, like arthritis and knee injury, a rise in the geriatric population, and strategic initiatives by key market players.
As per an article published in the National Library of Medicine in August 2022, more than 63 million people in India are affected with osteoarthritis in the current year. In India, osteoarthritis has a substantial and growing burden and impact, which is estimated to boost surgical procedures, boosting the segment's growth during the forecast period.
The high burden of various orthopedic conditions like fractures, arthritis, osteoarthritis, and rheumatoid arthritis requires general surgery propels the utility of general surgical products such as bone-cutting forceps, bone levers, bone rongeurs, and others.
The strategic initiatives by key market players, like launches, approvals, and partnerships, are estimated to fuel the segment's growth. For instance, in July 2021, Smith+Nephew launched its real intelligence suite of enabling technology solutions, including its next-generation robotics platform, the CORI Surgical System, in India. Robotics-assisted orthopedic surgery has been gaining momentum in India, which is expected to grow at a CAGR of 20% over the coming years. Such launches are estimated to propel the segment's growth during the forecast period.
Increasing Prevalence of Chronic Diseases is Expected to Propel The Market Growth During The Forecast Period
Diseases such as breast cancer, endocrine cancer, other types of cancer, gall bladder inflammation, and stones, hernia are treated using general surgery.
As per an article published in the PloS One Journal, the prevalence of obesity among Indian adults aged 20-69 years is rapidly increasing. The prevalence of obesity is estimated to reach 9.5% among men and 13.9% among women by 2040. Since bariatric surgery is a commonly used procedure for obese people, the high burden of obesity is expected to propel market growth.
Furthermore, as per an article published in the World Journal of Surgery in January 2021, a total of 3,646 surgeries were estimated annually to meet the surgical needs of the Indian population as compared to the global estimate of 5000 surgeries per 100,000 people. Cesarean section, cataracts, surgeries for fractures, and hernias are the major contributors to surgical needs. The country's high burden of surgical procedures is estimated to propel the market growth.
