India's Robotic Surgery Service market size was valued at $78 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 22.3% % from 2022-30 and will reach $390 Mn in 2030. The robotic surgery service market will grow due to the development of new and improved robotic surgical systems is making these procedures more accessible and affordable, and helping to increase awareness about their benefits among healthcare providers and patients. The market is segmented by product and service type, application type, and end user. Some of the major players are Transasia Bio-Medicals Ltd, Medtronic India, Wipro GE Healthcare, Apollo Hospitals Enterprise Ltd, Fortis Healthcare Ltd (IND), and others
India's Robotic Surgery Service market size was valued at $78 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 22.3% % from 2022-30 and will reach $390 Mn in 2030. Healthcare spending in India has been steadily increasing over the years, driven by factors such as a growing population, increasing prosperity, and a rising burden of non-communicable diseases. According to recent estimates, the total healthcare spending in India is expected to reach approximately $372 Bn in 2022.
The field of robotic surgery services is rapidly growing in India. Over the past decade, there has been an increasing interest in the use of surgical robots in India, driven by factors such as advances in technology, growing prosperity, and increasing demand for high-quality medical services.
Robotic surgical systems are used in a wide range of procedures, including minimally invasive surgeries for conditions such as cancer, heart disease, and gynecological disorders. They offer several advantages over traditional surgical techniques, including improved precision, reduced risk of complications, and shorter recovery times. The robotic surgery service market for robotic surgery services in India is expected to grow rapidly in the coming years, driven by increasing investment in the healthcare sector, growing demand for high-quality medical services, and advances in technology. This growth is expected to bring new opportunities for both established players and new entrants in the market and to help improve access to high-quality, affordable healthcare for people in India.
Market Growth Drivers
The growth of the market for robotic surgery services in India is driven by several factors, including:
As India's economy continues to grow and people become more prosperous, there is an increasing demand for high-quality medical services, including advanced surgical procedures. This is driving demand for robotic surgery services in India.
Moreover, the development of new and improved robotic surgical systems is making these procedures more accessible and affordable, and is helping to increase awareness about their benefits among healthcare providers and patients.
Additionally, the Indian government has been making efforts to improve access to healthcare for all citizens, including initiatives such as the launch of the Ayushman Bharat program, which provides health insurance coverage to a significant portion of the population. This is expected to drive demand for robotic surgery services in India.
Market Restrains
The high cost of robotic surgical systems is a significant barrier to the adoption of these services in India. This is due to the high cost of the systems themselves, as well as the need for specialized training and expertise, and the high costs associated with setting up a robotic surgery program.
Furthermore, there is still limited awareness about the benefits of robotic surgery services in India, particularly among healthcare providers and patients in rural and underserved areas. This is a significant challenge that must be overcome in order to increase the adoption of these services in India.
Additionally, there are several regulatory barriers that are constraining the growth of the market for robotic surgery services in India, including a lack of clear guidelines and standards for the use of these systems, and a lack of reimbursement for these procedures.
Key Players
In 2019, Johnson & Johnson announced the acquisition of Medical Robotics, a US-based company that develops robotic surgical systems. The acquisition is expected to enhance Johnson & Johnson's presence in the Indian market for robotic surgery services.
Policy changes and Reimbursement scenario
In India, the regulation of medical devices, including robotic surgical systems, is the responsibility of the Central Drugs Standard Control Organization (CDSCO), which is a part of the Ministry of Health and Family Welfare. The CDSCO is responsible for the approval, registration, and monitoring of medical devices in India.
For robotic surgical systems, the CDSCO requires pre-market clearance or approval based on clinical data and technical information submitted by the manufacturer. The regulatory process is designed to ensure that the devices are safe and effective for use in India, and that they meet the standards set by the CDSCO.
In addition to the regulatory requirements set by the CDSCO, there are also guidelines and standards set by professional medical organizations in India, such as the Indian Medical Association (IMA), that provide recommendations for the safe and effective use of robotic surgical systems.
In India, the reimbursement for these services is typically provided by private health insurance companies, which cover the costs of medical procedures performed in private hospitals. However, the coverage and reimbursement policies of these companies can vary widely, and the extent to which they cover the costs of robotic surgery services can depend on a number of factors, such as the type of procedure, the patient's individual insurance policy, and the specific terms of the policy.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Product and Services (Revenue, USD Billion):
The surgical robotics market volume data has been covered for all the major surgical robotics systems. In terms of value, the surgical systems market is anticipated to expand at a CAGR of 11.22% from 2018 to 2025.
By Application (Revenue, USD Billion):
Gynecology accounted for the largest market share in 2017 and is anticipated to expand at a CAGR of 7.0% from 2018 to 2025. This is explained by the rising prevalence of gynecological complications in women worldwide and the ongoing development of robotic technologies.
By End User (Revenue, USD Billion):
The hospitals' segment had the largest market value in 2017 and experienced a CAGR of 13.20% from 2018 to 2025. However, during the projected period of 2018–2025, the ambulatory surgical center's income is predicted to rise at the highest CAGR of 18.20%.
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