Report ID: 10009577 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
India Surgical Staplers Market
Surgical stapling is a technological advancement in medical wound closure methods and is often used as an alternative to traditional methods like suturing. The India surgical staplers market is expected to grow at a high CAGR through the forecast period.
India is essentially a young and populous country. Rapid urbanization is leading to an increase in the number of diseases like obesity, cardiovascular problems, and cancers in India and is contributing to the rise in the number of surgeries of the open as well as minimally invasive type are raising the demand for surgical staplers.
Cardiovascular diseases is one of the leading causes of mortality in India. The estimated age-standardized CVD death rate of 272 per 1,00,000 population in India is higher than the global average of 235 per 1,00,000 population. Also, obesity in India has almost reached an epidemic stage with morbid obesity affecting 5% of the country's population. Consumption of processed food has become widespread in India due to its continued integration with global food markets. It is estimated that the incidence of cancer in India is to grow by 25% by 2020 (according to the cancer registry released by the Indian Council of Medical Research). These factors are readily driving the surgical stapling market since they often necessitate undergoing surgeries.
India is a growing market for surgical staplers. Indian companies like Meril Life Sciences have come up with a range of surgical staplers for various types of surgeries. Manual skin staplers are widely used to close wounds post-surgery, and more people are opting for stapling for the management of haemorrhoids.
o The India surgical staplers market is segmented by product into manual and powered surgical staplers and by type into reusable and disposable surgical staplers. The reusable surgical stapler segment is expected to grow at a higher CAGR during the forecast period (2018-2023).
o The India surgical staplers market is further segmented based on its applications- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries.
Key growth factors:
o The launch of public healthcare programs, clubbed with increasing private wealth is expected to boost the country's healthcare spending. The government in the National Health Policy 2017, has proposed to increase public health spending to 2.5% of the GDP, which is expected to boost the demand for advanced medical technologies and devices like surgical staplers.
o The Central Drugs Standard Control Organisation (CDCO) has recognised surgical staplers as a drug recently so that they can strictly regulate the import, manufacture and sale of this class of products as drugs under the Drugs and Cosmetics Rules. This will boost the development of the surgical staplers market.
Threats and key players:
o Affordability is an issue in India, and that is why hospitals are more focused on providing low-cost medical care. Thus, under such conditions, focus on advanced medical devices like surgical staplers remain low, mainly when hand suturing (stitching) is still a popular method for wound closure.
o Health insurance penetration is quite low in India. It has 3.2% insurance penetration, as compared to the U.S. at 7.8% as of 2015. This might therefore, act as a challenge to the growth of surgeries and adoption of surgical staplers.
o The key players in the India surgical staplers market are Ethicon (Johnson & Johnson), Covidien (Medtronic), 3M, B.Braun, Meril Lifesciences, Lotus Surgical, etc.
What's covered in the report?
1. Overview of the India surgical staplers market
2. Analysis of the value chain of surgical staplers
3. Historical, current and forecasted market size data for the India surgical staplers market
4. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by product - manual and powered surgical staplers market
5. Historical, current and forecasted market size data for India surgical staplers market segmentation- by type - disposable and reusable surgical staplers market
6. Historical, current and forecasted market size data for the India surgical staplers market segmentation- by application - abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries
7. Market trends in the India surgical staplers market
8. Qualitative analysis of the key drivers and challenges affecting the India surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopaedic surgery, general surgery and other surgeries)
9. Analysis of the competitive landscape and profiles of major players operating in the market
Why buy?
1. Get a broad understanding of the India surgical staplers market
2. Get an understanding of how the surgical staplers reach end users from the manufacturers
3. Get specific drivers and challenges for the surgical staplers market and its segmentations (by product- manual and powered, by type -reusable and disposable, by application- abdominal surgery, cardiac surgery, orthopedic surgery, general surgery and other surgeries)
4. Recognize major competitors' business and market dynamics, and respond accordingly
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Report ID: 10009577 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
