The Indian Coronary Stent Market, which once held out the hope of better cardiac care, today faces a dizzying array of difficulties that cast doubt on its prospective advantages. Although coronary stents revolutionised the way that cardiovascular disorders are treated, current research has revealed a number of problems that are impeding its development in the nation. In this blog article, we shine light on the problems plaguing the Indian coronary stent market that have a negative influence on patient welfare and business expansion.
The high cost of cardiac stents in India is one of the biggest problems. Despite the better outcomes that new technology promise, many patients are unable to finance these life-saving gadgets. Patients, especially those from low-income families, now face a considerable financial burden as a result of the absence of an effective price regulating system, which may jeopardise their access to timely and high-quality healthcare.
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The Indian coronary stent market is anticipated to grow at a CAGR of 14% by 2032, reaching a value of US$ 4.45 billion. The Indian coronary stent market is projected to grow to a US$1.2 billion market in 2022. There have been ongoing problems with insufficient regulation and quality control on the Indian coronary stent market. Patient safety issues were previously raised by instances of subpar stents being inserted. In spite of efforts to make laws more severe, there are still many obstacles to overcome.
In many areas of India, there is still a lack of knowledge regarding cardiac stents, their advantages, and where they might be found. Many times, residents of rural areas and smaller towns lack access to proper healthcare services, such as modern hospitals and skilled medical personnel. The treatment outcomes for patients in these areas are severely impacted by this discrepancy in access to healthcare.
Some key points about the India Coronary Stent Market are:
- Growing Market: The Indian coronary stent market has witnessed significant growth over the years, driven by a rising prevalence of coronary artery disease, increased awareness about heart health, and improved healthcare infrastructure.
- Market Players: Several domestic and international companies are active in the Indian coronary stent market. Some of the major players include Abbott Laboratories, Medtronic, Boston Scientific, and Terumo Corporation, among others.
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- Types of Stents: The market offers different types of coronary stents, including bare-metal stents (BMS), drug-eluting stents (DES), and bioresorbable stents. DES, which releases drugs to prevent restenosis (re-narrowing of arteries), has gained popularity due to its effectiveness.
- Regulatory Environment: In recent years, there have been some regulatory changes in India concerning the pricing and distribution of medical devices, including coronary stents. These changes aimed to improve access to essential medical devices and make them more affordable for patients.
- Challenges: The Indian coronary stent market also faces challenges, such as the need to strike a balance between providing quality healthcare and managing costs. Additionally, there might be challenges related to access to healthcare in rural areas.
It’s important to keep in mind that the medical industry is continually evolving, and the information provided here may not be up to date. For the latest and most accurate insights into the India Coronary Stent Market, I recommend referring to industry reports, market research publications, or consulting with relevant experts in the medical field.
Key Players:
Some key players in the global infusion pumps market identified in this report are Abbott Laboratories, Medtronic, Inc., Biosensors Inc., and Boston Scientific Inc. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats.
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Key Segments:
Product Type
- Drug Eluting Stent
- Bare Metal Stent
- Bioresorbable Vascular Stent
Raw Material Type
- Cobalt Chromium
- Stainless Steel
- Platinum Chromium
- Polymer
End User
- Hospitals
- Ambulatory Surgical Centres
- Cardiac Catheterization Laboratories
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