Market Dynamics
India surgical equipment market drivers:
Rise in healthcare expenditure
Several states in India have increased their healthcare expenditures to improve the quality of patient care, access to medical services, and healthcare infrastructure. According to the India Union Budget 2022–2023, the Ministry of Health and Family Welfare was allocated INR 86,200 crores (approximately USD 10.6 million), a nearly 16.5% increase from INR 73,932 crores (approximately USD 10.4 billion) in 2021. This increase was primarily attributable to increased allocations to centrally sponsored public health schemes to continue constructing a sustainable healthcare infrastructure and assure system readiness to meet the country's rising healthcare requirements. Increased healthcare expenditure and financing are anticipated to stimulate market growth during the forecasted period.
India surgical equipment market restraints:
Regulatory framework
The regulatory framework in India, administered by organizations such as the Central Drugs Standard Control Organization (CDSCO), can be intricate and time-consuming. The regulatory approval procedure for surgical equipment, which includes product registrations and clinical trials, can be protracted, resulting in market entry delays and limited availability of sophisticated surgical equipment. India's medical device industry has struggled to obtain regulatory approvals for novel surgical apparatus promptly. The regulatory procedure, including acquiring required licenses and certifications, can delay and hinder manufacturers' market entry. This may restrict the availability of sophisticated surgical equipment in the nation.
India surgical equipment market opportunities:
Government initiatives and investment
Governments in the Asia-Pacific area have made various efforts and changes to enhance healthcare services. As the Indian government invests and supports more in health and welfare, the market for surgical equipment expands, allowing hospitals and healthcare systems to buy and purchase more surgical instruments. For example, the India Union Budget 2022-2023 proposed a new allocation of INR 404 crores (about USD 49 million) to establish hospital-based or stand-alone blood facilities to boost blood transfusion services. According to the same source, INR 5,156 crores (approximately USD 625.6 thousand) have been allocated as part of the PM Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) announced in October 2021 to strengthen health infrastructure at the mission mode approach and improve primary, secondary, and tertiary care services.
Segmental Analysis
The Indian surgical equipment market is segmented into type, application, end-user, and products.
The market is segmented by type into disposable and reusable.
Reusable surgical equipment controlled the market and is expected to register a CAGR of 7.6% over the forecast period.
Reusable surgical equipment
Surgery equipment that can be used more than once before needing to be reprocessed or sanitized are examples of reusable surgical devices. These devices are often constructed from long-lasting materials such as high-quality plastics or stainless steel. Examples of reusable surgical equipment include forceps, scissors, retractors, surgical tools, and laparoscopic instruments.
It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.
Wound Closure drives the market and is expected to register a CAGR of 10.3% over the forecast period.
Wound closure
Surgical wounds are sealed using wound closure. Sutures, staples, adhesive tapes, and dressings are among the wound closure disposable surgical equipment. These devices help cure incisions by stopping bleeding and protecting them.
It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.
Others topped the market and are expected to register a CAGR of 10.3% over the forecast period.
Others
The "others" group of end-users includes hospitals and clinics that may also employ disposable surgical equipment. Some healthcare providers and facilities, such as those that perform surgery at home, research hospitals that use disposable surgical equipment for experimental or investigative purposes, and others fall into this category.
It is further segmented by product into surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and surgical kits.
Surgical sutures and staplers are the highest contributor to the market and are expected to register a CAGR of 9.6% over the forecast period.
Sutures and staplers
Sutures and staplers are two instruments that are necessary for the process of closing wounds in surgical operations. Disposable sutures, such as absorbable and non-absorbable, are typically utilized for stitching or holding together tissues or surgical incisions. Using sterile staples, wounds may be closed quickly and effectively using disposable staplers. Staples can also be used to bind tissues together.
It is further segmented by application into neurosurgery, plastic and reconstructive surgery, wound closure, obstetrics, gynecology, cardiovascular, trauma, orthopedic, ophthalmic, and others.
Cardiovascular influenced the market and is expected to register a CAGR of 5.7% over the forecast period.
Cardiovascular
Examples of reusable surgical equipment for cardiovascular operations include retractors, clamps, and cannulas. These devices provide precise and regulated access to the cardiovascular system during heart and blood vessel-related surgical procedures.
It is further segmented by end-user into hospitals, clinics, ambulatory centers, and others.
Hospitals and Clinics led the market and are expected to register a CAGR of 8.4% over the forecast period.
Hospitals and clinics
The majority of surgical equipment used in hospitals and clinics is reusable. These establishments include medical centers, private practices, specialty clinics, and outpatient centers. They use sterilized, reusable surgical equipment to carry out various surgical procedures. Medical devices such as surgical instruments and drapes help keep healthcare services sterile and affordable.
It is further segmented by product into surgical sutures and staplers, handheld surgical devices, electrosurgical devices, and surgical kits.
Handheld Surgical Devices hold the major share of the market and are expected to register a CAGR of 8.0% over the forecast period.
Handheld surgical devices
Surgeons employ reusable handheld surgical devices for numerous treatments. These surgical devices include forceps, scissors, retractors, clamps, and scalpels. Handheld surgical devices can be sterilized and reused.
