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Indian Endoscopy Market Set to Grow at a CAGR of 6.8 Percent from 2010 to 2016 Finds Frost & Sullivan - The Indian urology endoscopy market is expected to grow, fuelled by the increasing number of hospitals being set up with a urology specialty
Indian Endoscopy Market Set to Grow at a CAGR of 6.8 Percent from 2010 to 2016 Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mumbai, India, 2011/01/11 - The Indian urology endoscopy market is expected to grow, fuelled by the increasing number of hospitals being set up with a urology specialty.

   
 
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To meet the healthcare demands of a burgeoning population, the Indian Government is expected to build 30 tertiary care and 115 secondary care hospitals by 2012. Large hospital groups are likely to build another 37 tertiary care and 36 secondary care hospitals during the same period. Another major driver for the endoscopy market in India is the patient preference for minimally invasive surgeries that are increasingly being covered by insurance.

New analysis from Frost & Sullivan (medicaldevices.frost.com), Endoscopy Products for Urology Procedures in the Indian Market, finds that the market earned revenues of $ 4.1 million in 2010 and estimates this to reach $6.2 million in 2016, growing at a compound annual growth rate (CAGR) of 6.8 percent.

If you are interested in more information on this study, please send an email to Anish Charles / Nimisha Iyer, Corporate Communications, at anishc[.]frost.com / niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"Due to the rising middle-class population with high spending power, there has been an increase in the number of insurance policies issued in India," says Frost & Sullivan Research Analyst Jennifer Lau. "Private health insurance allows policy holders to access urology endoscopy procedures offered in private hospitals."

Further, state-of-the-art private hospitals, diagnostic facilities, and the relatively low cost – in come cases, less than one-tenth of the cost incurred in the United States – are encouraging medical tourism in India.

"Cystoscopy was the most common procedure performed among all other urology endoscopy procedures in 2009," notes Lau. "However, it was the rigid cytoscope segment that generated the highest revenues in the total urology endoscopy market."

Lack of urologists in the country may prove to be a dampener preventing hospitals and medical centers from readily offering this specialty. Most large healthcare facilities are also based in major cities due to which, awareness about urology endoscopy procedures is limited. Hence, revenues from rural areas remain low.

"The Government is increasingly taking efforts to find potential employees and train them through continuous medical educations (CMEs) and class room programs in endoscopy procedure," observes Lau. "This is to prepare for the increasing demand of the Indian population aged above 65, which will need more tertiary care."

The demand for tertiary care services by this population cohort will see Indian private hospitals competing to provide high-quality healthcare, which includes minimally invasive surgeries/procedures such as urology endoscopy services.

Endoscopy Products for Urology Procedures in the Indian Market is part of the Medical Devices Growth Partnership Services program, which also includes research in the following markets: End-user Study on the Wound Care Management Market in Australia, Endoscopy Products for Respiratory Tract in the Indian Market, Endoscopy Products for Gastrointestinal (GI) and General Surgery (GS) Procedures in the Vietnamese Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Endoscopy Products for Urology Procedures in the Indian Market / P4A0

Contact:
Tanu Chopra, Corporate Communications –Middle East
P: +91 22 4001 3437 / F: +91 22 2832 4713 / E: tanu.chopra[.]frost.com.

 
 
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Indian Endoscopy Market Set to Grow at a CAGR of 6.8 Percent from 2010 to 2016 Finds Frost & Sullivan

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Publisher Contact: Anish Charles / Nimisha Iyer 
+91.22.4001 3419 / +91 98200 50519 anishc[.]frost.com / niyer[.]frost.com
 
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