India Minimally Invasive Surgery Devices Market Size

India Minimally Invasive Surgery Devices Market Analysis

The Indian market for minimally invasive surgery devices is expected to register a CAGR of 7.6% over the forecast period.

The market has been impacted by the pandemic, and various research studies have provided insight into the effects on several surgical procedures. According to the study published in the African Journal of Urology, in July 2021, during the COVID-19 lockdown, the number of urology patients admitted indoors dropped by 93.86% in India. Stone disease, hematuria, and malignancy accounted for 53.65%, 15.85%, and 9.75% of indoor admissions. The drop in stone disease patients during the pandemic led to decreased adoption of minimally invasive devices, which hindered the market's growth. However, initiatives such as product launches by key market players are expected to boost the market's growth. For instance, in January 2021, SSI Innovations launched its SSI multi-arm novel telerobotic assistance surgical system in India. Such product launches are expected to increase surgical success, which is expected to increase its adoption, thereby boosting the market's growth during the forecast period.

The increasing prevalence of lifestyle-related and chronic disorders is one of the key factors boosting the market growth. For instance, as per the ICMR 2021 Report, it has been observed that the number of cancer patients in India was expected to rise from 26.7 million in 2021 to 29.8 million in 2025. Increasing cancer cases are expected to increase the demand for its treatment which may involve surgical treatment for patients which is expected to increase the market growth over the forecast period. Increasing road accidents are also another factor in market growth. For instance, the article published in Europe PMC in June 2021 stated that pertrochanteric fractures were observed in 72.8% of the patients, while neck femur fractures were observed in 27%. The report also mentioned that 21.2% were injured because of road traffic accidents. Such a prevalence of hip fractures is expected to drive the demand for surgeries, thereby contributing to the growth of the market during the forecast period. Initiatives by key market players are another factor in market growth. For instance, in September 2021, Hugo's robotic-assisted surgery (RAS) system's first clinical procedure in Asia-Pacific by Medtronic PLC was carried out on the robotic prostatectomy at Apollo Hospitals in Chennai, India. Such factors are expected to augment the market growth.

However, the lack of skilled professionals and stringent regulatory frameworks are expected to hinder the market growth.