India Thoracic Surgical Devices Market to Grow with a CAGR of 5.88% through 2029
Growing preference for minimally invasive surgical procedures and rising
prevalence of cardiovascular diseases is expected to drive the India Thoracic
Surgical Devices Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “India Thoracic
Surgical Devices Market -Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029”, the India Thoracic Surgical Devices
Market stood at USD
550.41 Million in 2023 and is anticipated to grow with a CAGR of 5.88% in the forecast
period, 2025-2029. An increase in the
prevalence of thoracic diseases, such as lung cancer and esophageal cancer, has
led to a higher demand for thoracic surgical devices.
Additionally, advancements in medical technology and
the increasing adoption of minimally invasive procedures are contributing to
the market growth. The government's efforts to improve healthcare
infrastructure and accessibility, coupled with a growing middle class that can
afford advanced medical treatments, are also significant factors in this trend.
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India's thoracic surgical devices market is
experiencing rapid and dynamic growth, fueled by various factors. Advancements
in medical technology have paved the way for innovative surgical procedures,
while the prevalence of thoracic diseases and an aging population have
increased the demand for effective treatments. The market reflects a broader
trend in the healthcare sector, with a shift towards less invasive surgical
techniques gaining popularity. Video-assisted thoracic surgery (VATS), for
instance, has emerged as a preferred option for both doctors and patients due
to its advantages over traditional open surgery. VATS offers reduced surgery
time, decreased blood loss, and shorter hospital stays, contributing to its
rising adoption.
Within this market, devices associated with less
invasive procedures, including stapling devices and energy devices, play a
significant role. These devices offer improved patient outcomes and are in high
demand among thoracic surgeons.
To further emphasize the potential of the Indian
market, it is essential to consider the country's vast population of over 1.3
billion. The prevalence of factors such as smoking and rising pollution levels
has led to an increase in respiratory diseases, creating a greater need for
thoracic surgeries. In fact, India currently has the highest number of chronic
obstructive pulmonary disease (COPD) patients in the world, a condition that
often requires thoracic intervention.Recognizing this immense potential,
medical device manufacturers are eager to tap into the Indian market. However,
challenges such as the high cost of devices and the shortage of skilled
healthcare professionals trained in advanced surgical procedures pose obstacles
to market growth. Despite these challenges, the growing healthcare
infrastructure, government initiatives, and private sector investments in the
healthcare sector are expected to fuel further growth in the thoracic surgical
devices market.
The Indian market is characterized by the presence of
both local and global players, leading to intense competition. To stay ahead,
companies in this sector constantly strive to innovate and provide
technologically advanced solutions. Mergers, acquisitions, and partnerships are
common strategies employed by these companies to expand their product offerings
and strengthen their market position.The thoracic surgical devices market in
India is a rapidly evolving space with significant growth potential. Factors
such as the increasing prevalence of thoracic diseases, an aging population, advancements
in technology, and the shift towards less invasive surgical procedures are
driving market expansion. Despite challenges related to device costs and
skilled professional shortages, the Indian market offers lucrative
opportunities for medical device manufacturers willing to navigate these
hurdles.
The India Thoracic Surgical Devices Market is
segmented into product, indication, end user, regional distribution, and
company.Based on end user, hospitals and clinics in India are leading the Thoracic
Surgical Devices Market for several key reasons. One primary factor is the
significant rise in the prevalence of thoracic diseases, such as lung cancer
and esophageal cancer, which has resulted in a higher demand for thoracic
surgical interventions. Furthermore, advancements in thoracic surgical
procedures and technology have not only enhanced patient outcomes but also
increased the adoption of these procedures in hospitals and clinics nationwide.
Additionally, the availability of experienced and specialized professionals in
these healthcare settings further drives market growth as patients seek
high-quality care from skilled practitioners. The increase in healthcare
infrastructure, combined with government initiatives for healthcare
improvement, has created a favorable environment for the expansion of the
thoracic surgical devices market in India, positioning it as a dominant player
in the industry.
Based on region, In the Indian Thoracic Surgical
Devices market, the Northern region is anticipated to hold a dominant position.
This can be attributed to its robust healthcare infrastructure, which includes
state-of-the-art medical facilities and well-trained healthcare professionals.
Additionally, there is an increasing awareness about thoracic surgeries among
the population in this region, leading to a higher demand for thoracic surgical
devices. Moreover, the Northern region has witnessed a rise in the prevalence
of thoracic diseases, such as lung cancer and tuberculosis, which further
drives the demand for these devices.
On the other hand, the Southern region is expected to
show significant growth in the coming years. This can be attributed to the
increasing healthcare expenditure in this region, which enables the adoption of
advanced thoracic surgical technologies. With a focus on improving healthcare
facilities and services, the Southern region has been able to attract skilled
surgeons and invest in innovative surgical techniques. These advancements in
thoracic surgical technologies have led to better patient outcomes and
increased patient satisfaction. As a result, the demand for thoracic surgical
devices is expected to witness substantial growth in the Southern region.
Major companies operating in India Thoracic Surgical
Devices Market are:
- India Medtronic Pvt. Ltd.
- Olympus Medical Systems India Pvt Ltd.
- Richard Wolf India Private Limited
- Boston Scientific India Private Limited
- Johnson & Johnson Ltd
- CONMED DEVICES PVT. LTD.
- Philips India Limited
- Biolitec India Pvt. Ltd.
- Genuine Medica Pvt. Ltd.
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“The future of the Thoracic Surgical Devices Market in
India looks promising due to the increasing prevalence of thoracic diseases and
the continuous advancements in surgical techniques. The market is anticipated
to witness significant growth, driven by factors such as the rising geriatric
population, the expanding healthcare sector, and the increasing awareness about
early disease detection and treatment. Moreover, the introduction of minimally
invasive thoracic surgical devices in India is expected to further spur market
growth, offering efficient solutions with shorter recovery times and lower risk
of complications.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Thoracic Surgical
Devices Market By Product (Endoscope, Electrosurgery, Hand Instruments, Access
Instrument, Surgical Stapling Devices, Robotic Surgical System, Stents Graft,
Thoracic Surgery Devices, Vessel Sealing Devices, Accessories), By Indication
(Lung Cancer, Lymphoma, Mediastinal Tumors, Others), By End User (Hospitals
& Clinics, Ambulatory Surgery Centers, Others), By Region, Competition,
Forecast & Opportunities, 2018-2018F”, has evaluated the future growth potential of India Thoracic Surgical
Devices Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Thoracic Surgical
Devices Market.
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