Electrosurgical devices find wide usage in surgeries like laparoscopic, gynecological, cardiovascular and cosmetic surgeries due to benefits like minimal blood loss, reduced hospital stay and quick wound healing. These devices generate high-frequency alternating current for cauterizing, coagulating and cutting of tissue with the help of electric current.
The 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 market are First Care Products, TyTek Group., PerSys Medical, IBC, H&H Medical Corporation. These players collectively account for a share of over 60% of the market.
The growing preference for minimally invasive surgeries in India is fueling the demand for electrosurgical devices. As per industry estimates, over 1.4 million laparoscopic procedures were performed in India in 2019. Factors like less pain, fewer complications and faster recovery have increased the adoption of minimally invasive techniques.
Government efforts to boost healthcare infrastructure and initiatives like Ayushman Bharat are contributing to the global expansion of the Indian electrosurgical devices market. Increasing medical tourism and rising per capita healthcare spend are creating new growth avenues for players.
Market key trends
One of the key trends gaining traction is the increasing preference for bipolar India Electrosurgical Devices Market Demand over monopolar devices. These devices involve reduced risks of collateral tissue damage and perform more precise surgeries. Many leading players have expanded their bipolar device portfolio which is driving the growth of the segment.
Porter’s Analysis
Threat of new entrants: High capital requirements and strict regulations make entry difficult for new players.
Bargaining power of buyers: Large hospitals can negotiate lower prices but individual doctors have limited negotiating power.
Bargaining power of suppliers: The market has many device manufacturers so suppliers have limited power over price setting.
Threat of new substitutes: Though several alternatives exist, electrosurgical devices still remain the standard option for majority procedures.
Competitive rivalry: Large players compete intensely on product features while smaller ones target specific niches and geographical regions.
Geographically, North India accounts for the largest share of the electrosurgical devices market in value terms due to high population density and availability of major hospitals. States like Maharashtra, Delhi, and Uttar Pradesh see considerable demand.
The southern region, led by Telangana, Karnataka and Tamil Nadu, is witnessing the fastest market growth on account of increasing healthcare infrastructure, rising medical tourism and greater awareness among practitioners regarding advanced electrosurgery systems. This trend is anticipated to continue in the forecast period.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it