The industrial analysis of coronary stent in india has achieved a notable milestone, with a valuation of USD 843.8 million in 2023. This growth highlights a major transition towards less invasive medical treatments, driven by the increasing prevalence of cardiovascular diseases and a rising demand for sophisticated healthcare solutions.
The market’s growth trajectory is set to continue, with projections indicating a potential market value of over USD 1,213.5 million by 2033. This anticipated expansion is supported by a steady compound annual growth rate (CAGR) of 3.7%, underscoring the robust development and promising investment opportunities within the sector.
The advancement of India’s healthcare infrastructure, particularly through a comprehensive reimbursement framework, has been crucial in driving this growth. The coronary stent industry has evolved rapidly, marked by significant innovations in product development and cost-effectiveness. These advancements have enabled manufacturers to stay competitive while addressing the increasing demand for effective cardiovascular treatments.
“Amidst the rising incidence of diabetes, acute coronary syndromes, and hypertension, the coronary artery stent industry in India is witnessing substantial growth,” said FMI. “Drug-eluting stents, known for their efficacy and global acceptance, have emerged as the leading product type in 2023.”
As the coronary stent market in India continues to expand, there is a strong emphasis on innovation and improving patient outcomes. With ongoing advancements and a dedicated focus on meeting the country’s healthcare needs, the industry is poised for a promising future.
Key Takeaways:
- In patients with percutaneous coronary interventions (PCI) at high risk of bleeding, balloon stents covered with paclitaxel and iopromide are preferred over bare metal stents in India.
- Drug-eluting stents are leading the market in 2023, favored for their proven effectiveness and global acceptance.
- Abbott Laboratories stands as the industry leader for coronary stents in India, followed by Biotronik SE & Co., Boston Scientific, and Medtronic.
Coronary Stent in India Trends Unveiled: Get a Complete Overview with Insights from Our Full Report!
Competitive Landscape:
The coronary stent market is characterized by a competitive landscape, with numerous players vying for market share. Dominant leaders are joined by smaller regional players, contributing to a fragmented market environment. Manufacturers are investing heavily in research and development and have adjusted pricing models to enhance competitiveness while maintaining high product quality.
Key Industry Players:
- Abbott Laboratories
- Medtronic, Inc.
- Biosensors Inc.
- Boston Scientific Inc.
Recent Developments:
- Opto Eurocor Healthcare Limited (OEHL), a division of Bangalore-based Opto Circuits (India) Ltd., has introduced the E-MAGIC Plus Sirolimus Drug-Eluting Stent. The launch follows approval from the Drug Controller General of India (DCGI) and positions Opto Circuits among the select international companies offering DES devices with dual drug coatings.
- Sahajanand Medical Technologies (SMT) has received CE certification for its Infinnium paclitaxel-eluting coronary stent system, a locally designed innovation that delivers exceptional clinical outcomes and safety for treating coronary artery disease (CAD).
Market Segmentation:
By Product Type:
- Drug-eluting Stent
- Bare Metal Stent
- Bioresorbable Vascular Stent
By Raw Material Type:
- Cobalt Chromium
- Stainless Steel
- Platinum Chromium
- Polymer
By End User:
- Hospitals
- Ambulatory Surgical Centres
- Cardiac Catheterization Laboratories
The coronary stent market in India is set for sustained growth, driven by medical advancements and proactive healthcare measures. As the industry continues to evolve, it remains well-positioned to meet the increasing demands of a growing population and contribute to improved cardiovascular care.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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