Technological Innovations and Enhanced Healthcare Access Propel India's Surgical Market: Report
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Synopsis
According to a recent report, technological advancements and enhanced healthcare access are significantly boosting India's surgical market, highlighting key trends and challenges facing the sector.
Key Takeaways
- India conducts 3 crore surgeries annually.
- Robotic-assisted surgeries are growing at an 18% CAGR.
- The surgical market is valued at approximately $55 billion.
- Wound management is the fastest-growing segment.
- 80% of rural India suffers from a shortage of specialized surgeons.
New Delhi, Feb 20 (NationPress) Technological innovations and broader healthcare access are significantly influencing the surgical market in India, as revealed in a report published on Thursday.
The analysis by 1Lattice indicates that the healthcare landscape in India is undergoing a noteworthy transformation, with rapid evolution in its surgical domain, driven by the increasing demand for high-quality and affordable procedures.
Currently, India conducts approximately 3 crore surgeries annually, with general surgery and obstetrics and gynecology being the leading specialties.
The report points out several crucial trends, such as the growing use of robotic-assisted surgeries (RAS), a shift towards minimally invasive techniques, and the expansion of healthcare services into Tier II cities and beyond.
These advancements, along with a rise in medical tourism and improvements in surgical consumables, are anticipated to further propel growth in India's surgical market. The report indicates a significant increase in surgical procedures, with around 82 percent being conducted in small and medium-sized hospitals.
Valued at approximately $55 billion, the Indian surgical market continues to grow due to medical innovations and improved healthcare access. Additionally, the report noted a substantial rise in the adoption of robotic-assisted surgery, which is expanding at a CAGR of 18 percent, with the RAS market expected to reach $680 million by FY29.
The market for surgical implants and disposables is projected to grow at a CAGR of 9.6 percent, reaching Rs 88,700 crore by 2030, with wound management identified as the fastest-growing segment.
“India is on the verge of a surgical revolution, with an estimated 5.1 crore surgeries needed annually to meet healthcare demands. The rapid rise of robotic-assisted surgeries, growing at an 18 percent CAGR, and the surgical consumables market projected to reach Rs 88,700 crore by 2030 are enhancing patient outcomes and improving access to quality care,” stated Sanjay Sachdeva, Director – Healthcare and Lifesciences at 1Lattice.
Furthermore, the report highlighted that despite robust growth, the sector faces several challenges, including pricing pressures, regulatory complexities, and an uneven distribution of specialized surgeons, particularly in rural regions.
“Infrastructure gaps remain, with 80 percent of rural India lacking specialized surgeons. Addressing these hurdles through investments in technology and capacity building is crucial for maintaining this growth trajectory. Our report offers actionable insights for stakeholders to navigate this evolving landscape,” Sachdeva added.
As India solidifies its role as a global leader in medical innovation and surgical care, the insights from this report provide valuable direction for industry participants seeking to leverage emerging opportunities while confronting existing challenges.
