The India Electrosurgical Devices Market Is Expected To Driven By Rising Surgical Procedures

 
Electrosurgical Devices Market 

Electrosurgical devices are medical devices utilized in surgery to cut, coagulate, desiccate, and fulgurate tissue. These devices utilize high-frequency electric current to cut through tissue and control bleeding. They offer benefits such as minimal blood loss, less pain, reduced scarring, and faster healing time. With the increasing prevalence of chronic diseases and rising number of surgical procedures in India, the demand for electrosurgical devices is surging. According to the World Health Organization (WHO), chronic diseases accounted for 60% of total reported deaths in India in 2020.

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 key trends:
Product innovation is one of the key trends gaining traction in the India electrosurgical devices market. Manufacturers are developing advanced electrosurgical devices with improved technology and features to fulfil the unmet needs of end users. For instance, in January 2022, Medtronic launched the Valleylab FT10 electrosurgical generator, featuring Rapid Steam Resection technology designed for fast, effective hemostasis in laparoscopic procedures. Similarly, in October 2021, Olympus Corporation launched the THUNDERBEAT electrosurgical system platform, featuring advanced energy modalities. It provides ultrasonic, bipolar, and monopolar advanced energy technologies designed for improved precision and efficiency. Such innovative product launches are expected to support the growth of the India electrosurgical devices market over the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate in India electrosurgical devices market as it requires high investment for R&D and distribution network. However, opportunities exist for innovating cost-effective devices for the economically weaker section of the population.
Bargaining power of buyers: The bargaining power of buyers is high as many local and global players offer a variety of electrosurgical device options. Buyers can negotiate on price and demand after-sales service.
Bargaining power of suppliers: Companies procuring raw materials from global suppliers have moderate bargaining power due to established supply relationships and contracts. However, domestic component suppliers have low bargaining power.
Threat of new substitutes: The threat of new substitutes is low as electrosurgical devices have established use in various surgical specialties with no viable alternatives.
Competitive rivalry: The competitive rivalry is high among leading global players and local manufacturers catering to price-sensitive segments. Players compete on product innovation, quality, and expansion of product portfolio.

Key Takeaways

The India Electrosurgical Devices Market Size is expected to witness high growth over the forecast period owing to rising healthcare expenditure, increasing surgical procedures, and growing medical tourism. 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.

Regional analysis: Western and Southern regions dominate the India electrosurgical devices market due to higher density of healthcare facilities. States like Maharashtra, Karnataka, and Tamil Nadu account for over 40% market share. Meanwhile, Northern and Eastern regions offer lucrative opportunities with improving healthcare infrastructure and rising medical tourism.

Key players: Key players operating in the India electrosurgical devices market 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.Players are focusing on technology advancements, portfolio expansion, and manufacturing locally to tap the rural segment.

Get more insights on this topic:

https://www.marketwebjournal.com/india-electrosurgical-devices-market-market-size-and-share-analysis/

Comments

Post a Comment

Popular posts from this blog

Eyewear Market Is Estimated To Witness High Growth Owing To the Growing Demand for Prescription Eyewear

Image
  Eyewear Market The global Eyewear Market is estimated to be valued at US$ 273.4 billion in 2018 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023-2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: The Eyewear Market includes products such as prescription glasses, contact lenses, and sunglasses. These products offer vision correction and protection from harmful ultraviolet (UV) rays. The increasing prevalence of eye disorders and the growing awareness about the importance of eye health are driving the demand for eyewear products. Furthermore, the rising use of digital devices and exposure to blue light is also contributing to the need for prescription eyewear to reduce eye strain and prevent vision problems. Market Key Trends: One key trend in the Eyewear Market is the increasing demand for fashionable and luxury eyewear. Consumers are not only seeking vision correction but also looking for eyewear that complements
Read more

The Mobile Computed Tomography Is The Fastest Growing Segment Fueling The Growth Of Computed Tomography Market

Image
  Computed Tomography Market The global Computed Tomography Market is estimated to be valued at US$ 7.9 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview : Computed tomography, commonly known as CT or CAT scan, is a medical imaging technique used for clinical diagnosis and interventional procedures. CT imaging provides cross-sectional views of the internal organs to accurately detect medical conditions such as cancer, blood clots, lung nodules, or bone fractures. CT scans generate three-dimensional images or slices of the bones, blood vessels, and soft tissues inside the body. Market key trends: One of the key trends in the computed tomography market is the growing adoption of mobile CT systems. Mobile CT systems are CT devices that can be transported to various locations within a hospital campus or healthcare facility. Mobile CT scanners provide versat
Read more

The Electronic Warfare Market Will Grow At Highest Pace Owing To Rising Adoption Of Advanced Electronic Warfare Systems In Defense Sector

Image
  Electronic Warfare Market The electronic warfare market involves technologies, processes and tactics to dominate, disrupt and deny the electromagnetic spectrum that supports mission-critical functions which include communications, command and control, sensors, targeting and surveillance. Effective electronic warfare systems play an important role in modern warfare by minimizing risks and maximizing operational effectiveness. They help to suppress enemy use of electromagnetic spectrum and keep friendly spectrum available for own use. Some key functions of electronic warfare systems include electronic attack, electronic protection and electronic support. The growing use of technologically advanced aircraft, ships and weapons systems has increased the demand for sophisticated electronic warfare capabilities to counter emerging electromagnetic threats and stay ahead in the battlefield. The Global Electronic Warfare Market is estimated to be valued at US$ 18.45 Bn in 2024 and is expected
Read more