Increasing Prevalence of Oncology Population, Emerging Technologies in Oncology Testing in the market are major factors contributing towards development of Next-Generation Oncology Devices and Solutions in India.
Increasing Cancer Incidence: With rising cancer incidence rates, cancer remains top five causes of deaths in India. The market is primarily driven by an increase in the number of patients and the continuous strive to improve patient outcomes though innovations. Early screening increases the success rate of treatment regimens. As a result, healthcare agencies and market players, through various awareness programs, are promoting routine check-ups, next-gen screening NGS and diagnostics.
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Rising Preference for Minimally Invasive Techniques: While in the earlier times open surgeries were performed to treat cancer, Cancer Diagnosis and Treatment has been evolving towards the minimally invasive approaches with the rising demand, acting as a driving force which is expected to positively support the growth of next-gen oncology devices
Government Regulations: The CDSCO has created a list of oncology Medical Devices that are classified based on their risk, and as of October 2022, all devices with the Risk Class A or B label will require a license from the CDSCO. Importer of these oncology medical devices would need to get permission from the CDSCO in order to sell them in India.
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Price Sensitivity among the Masses: India is a price sensitive market leading to a stiff competition between companies basis the pricing of their products. Refurbished and Pre-owned equipment’s cost usually 35-45% less than a brand new equipment. The demand for Refurbished and pre-owned equipment’s is generated by Healthcare facilities with low budgets for new equipment’s which is posing a major challenge for sales of new equipment’s in the country. Also, government controls prices of various medical devices by either fixing a selling price or by restricting the ability of the marketer of the medical device to increase its price by more than a prescribed percentage at any given time. This is one of the biggest challenge for manufacturers. Analysts at Ken Research in their latest publication “India Next-Generation Oncology Devices and Solutions Market Outlook to FY’2027 – Driven by Increasing Prevalence of Oncology Population, Emerging Technologies in Oncology Testing and Treatment and Increasing Disease Awareness to drive the Market” by Ken Research observed that India Next-Generation Oncology Devices and Solutions Market has entered its growing phase. Entry of Global Manufacturers, Rising technology advancements are some of the factors that will contributed to the India Next-Gen Oncology market growth over the period of FY’2022-2027F. It is expected that India Oncology Devices and Solutions Market will grow at a CAGR of 23.1% for the above forecasted period.
Key Segments Covered in the report
Next-Gen Oncology Devices and Solutions Market
- By Type
- By Devices
- By Solutions
- By Type
- North India
- West and Central India
- East and North East India
- South India
- By Clinical Application
- Cervical Cancer
- Blood Cancer
- Prostate Cancer
- Liver Cancer
Segmentation of India Next-Gen Oncology Devices
- By Application
- Treatment and Monitoring
- Diagnosis
- By End Users
- Hospitals
- Academic and Research Institutes
- Others
Segmentation of India Oncology Solutions
- By Test Type
- Laboratory Tests
- Imaging Tests
- Others
Key Target Audience
- Hospitals
- Diagnostic Centers
- Research and Adademic Instiutions
- Government and Institutions
- Medical Equipment Companies
- Medical Equipment Service Providers
- Global Oncology devices Players
- New Market Entrants
- Investors
- Medical Associations
Time Period Captured in the Report:
- Historical Period: FY’2017-FY’2022
- Base Period: FY’2022
- Forecast Period: FY’2023F-FY’2027F
Companies Covered:
Oncology Solutions
- Public and Private Hospitals (Fortis, Apollo, Max healthcare, AIIMS, Regional cancer centre, HCG, TATA)
- Labs and Diagnostic Centres Dr Lal Path labs
Oncology Devices Companies
- Elekta
- Accuray
- IBA
- Philips
- GE
Key Topics Covered in the Report
Next-Gen Oncology Devices and Solutions Market Overview
Ecosystem of India Oncology Devices and Solutions Market
India Oncology Devices and Solutions Market Evolution
India Oncology Devices and Solutions Market by type,
India Oncology Devices and Solutions market by Region,
India Oncology Devices and Solutions Market Segmentation,
SWOT Analysis of India Oncology Devices and Solutions Industry
Infrastructure Development Overview of INDIA
Trends and Developments in India Oncology Devices and Solutions industry
Trends and Development in India Oncology Devices and Solutions industry
Decision Making Parameters for Selecting Car Loan Vendor
Operational Strategies for India Oncology Devices and Solutions Services Market
Issues and Challenges in India Oncology Devices and Solutions Industry
Government policies affecting the India Oncology Devices and Solutions Industry
Government Initiatives for Automotive Industry
Growth Drivers of India Oncology Devices and Solutions Market
COVID Impact on the India Oncology Devices and Solutions Industry
India Oncology Devices and Solutions Market Competition Overview
Cross Comparison of Major Players in India Oncology Devices and Solutions Market
Strengths and Weakness of Major Players in India Oncology Devices and Solutions market
Future Outlook and Market Projections, 2027F
Case Study on Major Oncology Devices Players
Growth strategies for India Oncology Devices and Solutions market
For more insights on the market intelligence, refer to the link below:-
India Next-Gen Oncology Devices Market
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India Medical Device Market Outlook to 2023