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India Endoscopy Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

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  • 80 Pages
  • February 2024
  • Region: India
  • Mordor Intelligence
  • ID: 5572669
The India Endoscopy Devices Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 1.93 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).

Endoscopes are minimally-invasive devices that can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. The endoscopic surgeries are performed for imaging procedures and minor surgeries as well.

The COVID-19 outbreak negatively impacted the Indian healthcare sector as it decreased the number of surgeries performed, international patient visits, and outpatient department (OPD) footfall. The country's imported consumables, disposables, and capital equipment, including endoscopy devices, are negatively affected due to supply chain issues. Additionally, the devices were not used at their 100% capacity. For instance, in July 2020, a paper published in the National Library of Medicine titled 'Impact of COVID-19 on gastrointestinal endoscopy practice in India: a cross-sectional study' stated that, in India, the endoscopy units are performing fewer than 10% of their usual volumes due to the limited resources during the pandemic, such as negative pressure rooms. Similarly, in May 2020, another paper titled 'COVID-19 testing before every endoscopy: Is India ready for prime time?' stated that the cost of an average upper GI endoscopy in India is between INR 2000 and INR 4000 (USD 30 - USD 60). However, PCR testing costs are higher than endoscopy, thus reducing the footfall for endoscopy services. However, with the increased vaccination programs and other initiatives, the Indian market is growing.

The increasing prevalence of endoscopy surgeries for treatment and diagnosis and technological advancements are leading to enhanced applications, augmenting the market's growth. In October 2020, Olympus Corporation, in cooperation with the Ministry of Internal Affairs and Communications (MIC), conducted a study titled " Survey Study for International Expansion of AI Diagnosis Support System Using Ultra-High Magnifying Endoscopes in India". The study aims to develop advanced endoscopy diagnostics in India, where there are relatively few endoscopists. In collaboration with Cybernet Systems Co. Ltd, Olympus established an AI diagnostic support system at a major medical institution, the Asian Institute of Gastroenterology (AIG), based in Hyderabad, India. Also, the growing awareness among the elderly population about minimally-invasive procedures and the rising prevalence of chronic diseases boost the demand for endoscopy devices further.

However, the lack of skilled technicians in the country is likely to hinder the market's growth.

India Endoscopy Devices Market Trends

Gastroenterology in Application is Expected to Dominate the Market During the Forecast Period

Gastrointestinal endoscopy allows doctors to see the inside lining of the digestive tract. This examination is performed using an endoscope, a flexible fiber-optic tube with a TV camera at the end. The camera is connected to either an eyepiece for direct viewing or a video screen that displays the images on a color TV. This procedure is used for the diagnosis and treatment of gastrointestinal conditions.

In 2020, a GLOBOCAN report stated that colorectum cancer is the fifth most prevalent cancer in India, with around 65,608 cases. The rising number of colorectum cases will require a higher number of diagnoses. Hence, the rising prevalence of cancer may boost the endoscopy market in India. Increasing investments and launches of better care facilities are driving the market's growth. For instance, in August 2021, Jehangir Hospital, located in Pune, India, launched an upgraded Endoscopy Center for early diagnosis of GI cancers, empowered by Endosonography. Collaborations and product launches are other growth in the country. For instance, in October 2020, Olympus Corporation collaborated with Cybernet Systems Co. Ltd to establish an AI diagnostic support system at the Asian Institute of Gastroenterology (AIG), based in Hyderabad, India. With the rising developments in several end-user facilities and increasing collaborations and product launches, the market is likely to grow in the future.

India Endoscopy Devices Industry Overview

The Indian endoscopy devices market is fragmented and consists of several major players. A few of the major players are currently dominating the market in terms of share. The majority of the global players have their presence in India in the form of branches, partnerships, subsidiaries, or third-party distribution. As the Indian market is becoming more lucrative due to the increased population and augmented standard of living, more companies are expected to invest and operate in India. Some of the companies currently dominating the market are Boston Scientific Corporation, KARL STORZ SE & Co. KG, Medtronic PLC, Olympus Corporation, and Stryker Corporation.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Endoscopy for Treatment and Diagnosis
4.2.2 Technological Advancements Leading to Enhanced Applications
4.3 Market Restraints
4.3.1 Lack of Skilled Technicians
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type of Device
5.1.1 Endoscopes Rigid Endoscope Flexible Endoscopes Other Endoscopes
5.1.2 Endoscopic Operative Device
5.1.3 Visualization Equipment Endoscopic Camera SD Visualization System HD Visualization System
5.2 By Application
5.2.1 Gastroenterology
5.2.2 Pulmonology
5.2.3 Orthopedic Surgery
5.2.4 Cardiology
5.2.5 ENT Surgery
5.2.6 Gynecology
5.2.7 Other Applications
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 Conmed Corporation
6.1.3 Ethicon Inc (Johnson & Johnson)
6.1.4 KARL STORZ SE & Co. KG
6.1.5 Fujifilm Holding Corporation
6.1.6 Medtronic PLC
6.1.7 Olympus Corporation
6.1.8 Richard Wolf GmbH
6.1.9 Shaili Endoscopy
6.1.10 Stryker Corporation

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Boston Scientific Corporation
  • Conmed Corporation
  • Ethicon Inc (Johnson & Johnson)
  • Fujifilm Holding Corporation
  • Medtronic PLC
  • Olympus Corporation
  • Richard Wolf GmbH
  • Shaili Endoscopy
  • Stryker Corporation