by Electrosurgical devices are widely used in surgical procedures for cutting or coagulation of tissues and blood vessels. The devices generate heat through the principle of thermal conduction or rather electromagnetically induced heat generation and vaporization allowing for effective hemostasis and tissue welding. Some common devices offered are electrosurgical generators, electrodes, and accessories. The market is witnessing increased demand for minimally invasive surgical procedures that promise quicker recovery times, less post-surgical trauma, and greater accuracy.
The global India Electrosurgical Devices Market is estimated to be valued at US$ 229.95 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the India electrosurgical devices market growth is the rising geriatric population. As per WHO, India’s geriatric population which was 103 million in 2011 is expected to reach 323 million by 2050. The aged population is more susceptible to chronic diseases like cancer which is a major application of electrosurgery during treatment procedures. Additionally, emergence of advanced electrosurgical generators with features like adjustable power outputs, instant coagulation and ability to seal vessels up to 7mm in diameter is supporting complex surgeries among older patients. Manufacturer focus on innovative product development is expanding applications of electrosurgical devices beyond conventional uses. However, risks of patient safety due to electrosurgical smoke exposure and equipment malfunctions needs to be addressed through stringent quality standards and training to optimize performance of these systems.
SWOT Analysis
Strength: The India electrosurgical devices market is growing at a high rate. The Indian healthcare sector is booming which is increasing the demand for electrosurgical devices in hospitals and clinics. The increasing incidence of chronic diseases is also propelling the growth of the market. The government is taking initiatives to enhance healthcare infrastructure which will drive the adoption of technologically advanced electrosurgical devices.
Weakness: Lack of awareness about advanced electrosurgical devices in some parts of the country. Limited healthcare budget of some consumers restricts the purchase of high-end electrosurgical devices.
Opportunity: Growing medical tourism industry in India is an opportunity for players. Rising disposable incomes will increase the affordability of electrosurgical devices. Untapped rural areas present huge growth potential.
Threats: Stringent regulatory framework increases compliance costs. Threat from alternative technologies used in surgeries. Intense competition among existing players.
Key Takeaways:
The India Electrosurgical Devices Market Size is expected to witness high growth. The market size for India electrosurgical devices was valued at US$ 229.95 Mn in 2023 and is projected to reach US$ 384.26 Mn by 2030, expanding at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2030.
Regional analysis:
Southern region dominates the India electrosurgical devices market accounting for over 30% share due to higher healthcare infrastructure and healthcare spending. Western region is the fastest growing region expanding at a CAGR of 8% driven by increasing medical tourism and healthcare upgrades in major cities.
Key players:
Key players operating in the India electrosurgical devices are Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Kohler Co., MTU Onsite Energy Corporation, Himoinsa S.L., Atlas Copco AB, Mitsubishi Heavy Industries Ltd., Briggs & Stratton Corporation, Schneider Electric SE, Eaton Corporation, Aggreko plc, Wärtsilä Corporation, Yanmar Co. Ltd., Doosan Corporation.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
