Endoscopic Devices - India | Statista Market Forecast

Revenue in the Endoscopic Devices market market in India is projected to reach US$390.80m in 2024.
Revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 8.65%, leading to a market volume of US$591.70m by 2029.
In a global context, the highest revenue will be generated the United States, which is expected to achieve US$10.39bn in 2024.
India's burgeoning healthcare sector is significantly driving the innovative adoption of endoscopic devices, enhancing minimally invasive procedures and improving patient outcomes nationwide.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in India is witnessing moderate growth, influenced by factors such as technological advancements, increasing prevalence of chronic diseases, and the rising demand for minimally invasive procedures among healthcare providers and patients alike.

Customer preferences: In India, there is a growing preference for advanced medical technologies, particularly endoscopic devices, as patients and healthcare providers prioritize minimally invasive procedures for quicker recovery and reduced hospital stays. Cultural attitudes towards health are shifting, with an increasing awareness of preventive care, further fueling demand for diagnostic endoscopy. Additionally, the rising middle-class demographic is more willing to invest in innovative medical solutions, reflecting changing lifestyle factors and a broader acceptance of modern healthcare practices.

Trends in the market: In India, the Endoscopic Devices Market is experiencing significant growth, driven by the increasing adoption of minimally invasive surgical techniques among healthcare providers. This trend is underscored by a surge in diagnostic endoscopy procedures, as patients seek quicker recovery times and reduced hospital stays. The expanding middle-class population is fueling demand for advanced medical technologies, highlighting a shift towards preventive healthcare. Industry stakeholders, including manufacturers and healthcare facilities, must adapt to these evolving consumer preferences and invest in innovative solutions to stay competitive in this dynamic market.

Local special circumstances: In India, the Endoscopic Devices Market is thriving, influenced by a unique blend of cultural and regulatory factors. The emphasis on traditional healing practices coexists with a growing acceptance of modern medical technologies, prompting patients to seek less invasive treatment options. Additionally, the government’s efforts to streamline regulatory approvals for medical devices have accelerated market entry for innovative solutions. Geographically, the diversity of the population necessitates tailored approaches to address varying healthcare needs, driving demand for specialized endoscopic procedures in urban and rural settings alike.

Underlying macroeconomic factors: The Endoscopic Devices Market in India is significantly influenced by macroeconomic factors such as increasing healthcare expenditure, urbanization, and rising disposable incomes. As the national economy continues to grow, there is a greater emphasis on advanced healthcare technologies, fostering demand for minimally invasive procedures. Moreover, supportive fiscal policies aimed at enhancing healthcare infrastructure and public-private partnerships are accelerating innovation in medical devices. Additionally, the growing prevalence of gastrointestinal disorders and cancers in the population drives the need for specialized endoscopic solutions, further propelling market growth.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.