The estimated Industrial Analysis of Coronary Stent in India in 2023 is USD 843.8 million. The need for less invasive methods to treat the growing number of cardiovascular disease cases is the reason for this increase. This paves the way for substantial growth, as estimates suggest that adoption may surpass USD 1,213.5 million by 2033. A slow CAGR of 3.7% supports this upward trend, highlighting the adoption landscape’s stable potential over the next 10 years.
A Comprehensive Look at the Top Factors Driving the Adoption of Coronary Stent in India
Rising Cardiovascular Disorders are Fueling Surge in Coronary Stent Sales in India: One of the primary variables propelling coronary stent sales in India is the increased incidence of cardiovascular disorders. The prevalence of non-communicable diseases (NCDs), such as cardiovascular disease (CVD), is an increasing threat to public health in India. Analysis of India’s stent industry by current state officials shows that more than 63% of fatalities in the country are now associated with NCDs. The greater prevalence of heart-related illnesses is attributed to factors including poor lifestyles, stress, and shifting food patterns.
India’s Aging Population Drives Surge in Coronary Stent Application: Cardiovascular disorders are more common in India’s aging population. As the senior population is rapidly growing, the greater risk of coronary heart disease among them bolsters the demand for coronary stents in India. The increase in percutaneous coronary interventions and angioplasty operations in India is directly associated with the adoption of coronary stents. Medical professionals prefer using them since these stents significantly reduce angina and increase patient survival chances. These trends in Indian interventional cardiology ensure the arteries remain open throughout the treatment.
Bioresorbable and Drug-eluting Stents Revolutionize Cardiac Care in India: The recent innovations in stent technology, like the development of bioresorbable stents and drug-eluting stents in India, are leading to a substantial demand. The improved patient outcomes, safety, and efficacy of these novel devices are precisely driving the demand for coronary stents. Stents that address the acute problem and also reduce long-term consequences are preferred by patients and medical professionals more frequently. For instance, bioresorbable stents provide an interim solution that parallels the body’s natural healing process.
Government Initiatives are Making Coronary Stent More Accessible: Given the inclusion of coronary stent on the Indian government’s list of essential medicines, the adoption of coronary stents in India is predicted to increase significantly. For instance, the Union Health Ministry of India stated in November 2022 that cardiac stents are going to be included in the National List of Essential Medicines 2022, causing them to be more inexpensive in India. Moreover, patients now have more access to and affordability for cardiac stents because of programs like Ayushman Bharat. The use of stents has increased by 30–40% as a result of better stent affordability.
World-class Cardiac Care and Affordable Coronary Stent Attract Global Medical Tourists: For cardiac care solutions in the India industry, like the implantation of coronary stents, the country has developed into a hotspot for medical tourism. India’s status as a sought-after location for cardiac treatments has been cemented by the country’s combination of top-notch medical facilities, knowledgeable healthcare experts, and affordable prices. The National Pharmaceutical and Pricing Authority (NPPA) of India made the historic choice in February 2017 to set pricing limitations for coronary stents at U$ 108 for bare metal stents and US$ 444 for drug-eluting stents. This has assisted in the industry’s expansion. The cost-effectiveness of coronary artery blockage treatment in India has become a powerful magnet for visitors from around the globe.
Key Highlights
- Given the rising frequency of diabetes, acute coronary syndromes, and hypertension, significant expansion is evident in the coronary artery stent industry in India.
- India’s robust healthcare system, coupled with a well-structured reimbursement framework, has created a surge in the adoption of coronary stents.
- The adoption of coronary stents in India is categorized by product type, with drug-eluting stents taking the lead in 2023 due to their proven efficacy and widespread acceptance in the global medical community.
- Coronary stent manufacturers in India have evolved by prioritizing innovation and cost-effectiveness to thrive in a competitive industry.
Competitive Landscape
The coronary stent industry is characterized by a degree of fragmentation, with several players vying for industry share. While there are dominant leaders, there is also a significant presence of smaller and regional players, contributing to a competitive landscape. Manufacturers have allocated substantial resources to research and development. They have strategically adjusted pricing models to remain competitive, targeting a broader customer base without compromising product quality.
Recent Developments Related to Coronary Stent in India
- Translumina, an Indian business, revealed that VIVO ISAR is going to be available in several international countries. It is an advanced dual-drug polymer-free coated stent (DDCS). A significant development in drug-eluting stent technology, VIVO ISAR, shows that synthetic polymers can be eliminated from DESs without sacrificing their effectiveness.
- With the same cutting-edge platinum chromium (PtCr) alloy, Boston Scientific introduced its Promus Element everolimus-eluting stent system and Taxus Element paclitaxel-eluting coronary stent system in India. Additionally, they share the same sophisticated catheter delivery method and stent design.
- To improve the management of coronary artery disease and lay the groundwork for future advancements in stent technology, Medtronic introduced the Resolute OnyxTM Drug-eluting Stent (DES) in India. The Resolute Onyx DES establishes a new benchmark for robust polymer DES with the help of the innovative Core Wire technology.
A Full Report Overview
Key Industry Players Profiled in the India Coronary Stent Report
- Abbott Laboratories
- Medtronic, Inc.
- Biosensors Inc.
- Boston Scientific Inc.
Key Segments
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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