India Coronary Stents Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Cardiovascular Diseases

 


Coronary stents are tiny tubes inserted into blocked coronary arteries to keep them open and improve blood flow to the heart. The increasing number of patients suffering from cardiovascular diseases such as coronary artery disease, myocardial infarction and others has fueled the demand for coronary stents in India. As per the World Health Organization, cardiovascular diseases were the leading cause of deaths in India with over 1.5 million death in 2019. Additionally, the rising healthcare expenditure, growing medical tourism and increasing focus of government on providing affordable medical care are some major factors driving the growth of coronary stents market in India.

The Global India Coronary Stents Market is estimated to be valued at US$ 1501.64 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the India Coronary Stents are Allflex, Datamars, Zee Tags, Leader Products, Fitbit, SCR Dairy, Animana, Cainthus, Connecterra, CowManager, HerdInsights, Moocall, Quantified AG, BouMatic, IdentiGEN, Ceres Tag, Ardes, LAIPSON, Kupsan, Stockbrands. These players capture a significant share of the market owing to their focused efforts on developing advanced stents.

Key opportunities in the market include rising medical tourism, increasing healthcare investments by the government and private players and growing awareness about cardiovascular diseases treatment options. The governments focus on providing affordable healthcare is positively impacting the market growth.

The major players in the market are focusing on global expansion by establishing manufacturing facilities in emerging economies and strengthening their distribution networks. Favorable government policies in countries like India make it an attractive market for coronary stents manufacturers. Investments in R&D to develop advanced bioresorbable stents with lower risk of complications also provide new growth opportunities.

Market Drivers
Rising burden of cardiovascular diseases: The increasing incidence of conditions like coronary artery disease, myocardial infarction, and congenital heart disease has boosted demand for coronary stents.

Increasing healthcare expenditure: Growing domestic healthcare spending coupled with rising medical tourism is fueling market growth.

Market Restraints
High cost of drug eluting stents: Drug eluting stents are relatively more expensive than bare metal stents which hampers their adoption.

Lack of reimbursement: Absence of comprehensive health insurance in rural areas makes stent procedures unaffordable for many patients.


Segment Analysis
The India coronary stents market growth is dominated by the drug eluting stents sub segment. Over 80% of the total market constitutes drug eluting stents as they help prevent restenosis post angioplasty as compared to bare metal stents. They elute anti-proliferative drugs to prevent excessive cell growth that causes reblockage of arteries. This property makes them a preferred choice for doctors for treating coronary artery disease.

Global Analysis
Asia Pacific region is expected to witness the fastest growth in the India coronary stents market during the forecast period. This is attributed to large patient pool suffering from cardiovascular diseases, increasing healthcare expenditure, growing medical tourism industry and rising awareness regarding heart diseases in the region. Countries like India and China are anticipated to be the major revenue contributors to the Asia Pacific market owing to presence of developing healthcare infrastructure and improving reimbursement scenario. North America currently dominates the global market; however developing countries of Asia Pacific offer huge growth opportunities for market players.

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