Electrosurgical devices are extensively used in various surgical procedures such as laparoscopy, neurosurgery, gynecology, and otolaryngology to perform coagulation, cutting, and fulguration of tissues. They offer benefits such as easy operation, minimal blood loss, reduced risk of infection, shorter hospital stay, and faster recovery time when compared to traditional surgical equipment. The growing prevalence of chronic disorders and rising healthcare expenditure is accelerating the demand for electrosurgical devices in India.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased healthcare expenditure is one of the major trends driving the growth of the India electrosurgical devices market. India's spending on healthcare sector as a percentage of its GDP has grown steadily over the past few years. As per WHO, healthcare expenditure in India is expected to reach USD 372 billion by 2022 from USD 6.6% of GDP in 2017. This rising healthcare expenditure is encouraging public and private hospitals to invest in new technologies including electrosurgical devices to offer better treatment outcomes. The growing affluence is increasing healthcare needs in India. This will propel the demand for electrosurgical devices for various minimally invasive surgeries across the country.
Segment Analysis
In the India electrosurgical devices market, bipolar electrosurgical devices are dominating the market with a share of over 35%. Bipolar electrosurgical devices offer improved precision and safety as compared to monopolar devices since in bipolar devices, both current dispersion and return electodes are located in close proximity to each other. This reduces the chance of current straying to other tissues.
Key Takeaways
The India Electrosurgical Devices Market Growth is expected to witness high growth over the forecast period of 2024-2031. With the rapid growth of medical tourism and increase in healthcare expenditure, demand for electrosurgical devices is set to rise substantially in India. 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.
Regional analysis
The western region of India currently dominates the electrosurgical devices market with over 30% share. This is owing to the high concentration of hospitals and specialty clinics located in major cities of Mumbai, Pune and Ahmedabad. However, the northern region is expected to witness the fastest growth during the forecast period supported by development of healthcare infrastructure and rising medical tourism in Delhi NCR and other cities.
Key players
Key players operating in the India electrosurgical devices market are First Care Products, TyTek Group., PerSys Medical, IBC, and H&H Medical Corporation. First Care Products leads the bipolar electrosurgery devices segment with diverse product offerings. TyTek Group has a strong presence in the laparoscopy electrosurgical equipment market.
For more insights, read- https://www.newsstatix.com/india-electrosurgical-devices-market-size-and-share-analysis-growth-trends-and-forecasts/
For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/luxury-travel-market-is-estimated-to-witness-high-growth-owing-to-increased-adventurism
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