India Coronary Stents Market Is Anticipated To Witness High Growth Owing To Rising Prevalence Of Cardiovascular Diseases

India Coronary Stents Market

Coronary stents are small, mesh-like tubes used to treat narrow or weakened arteries that supply blood to the heart. They are inserted into the coronary arteries during a procedure called percutaneous coronary intervention (PCI) or coronary angioplasty to improve blood flow to the heart. The rising prevalence of cardiovascular diseases (CVDs) such as heart attacks, strokes, and others have increased the demand for coronary stents in India. Percutaneous coronary intervention (PCI) procedures which commonly deploy coronary stents are minimally invasive procedures compared to open-heart bypass surgery. The availability of advanced stents including drug eluting stents (DESs), bioabsorbable stents, and others have made PCI procedures more effective in treating arterial blockages. Their effectiveness in treating complex lesions as well as improving clinical outcomes have made them the preferred mode of treatment.

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. India represents a lucrative growth opportunity for coronary stent manufacturers given the rising burden of CVDs, growing healthcare expenditure, and initiatives by the government and healthcare organizations to spread awareness about heart diseases. The increasing demand for minimally invasive procedures, advancement of stent technologies, and presence of medical reimbursements are fueling the adoption of India Coronary Stents Market Demand. Leading international players are expanding their footprint in India organically and through acquisitions to gain a larger share in the fast growing market.

Market drivers and restrain

Market drivers - Rising prevalence of cardiovascular diseases, growing geriatric population, availability of reimbursements for PCI procedures, increasing healthcare expenditure are some of the major drivers of the India coronary stents market. As per the India Council of Medical Research, cardiovascular diseases contributed to about 28% of total deaths in India in 2016. According to estimates, cardiovascular deaths in India are anticipated to increase from 2.7 million in 2000 to 4.77 million by 2020. The increasing risk factors such as changing lifestyles, unhealthy dietary habits, lack of physical activity, smoking, obesity, diabetes etc have significantly increased the burden of heart disease in the country.

Market restraints - High costs of drug-eluting stents, shortage of skilled cardiologists, stringent regulatory landscape are some of the major challenges in the India coronary stents market. Nearly 70-80% of Indian population do not have health insurance and have to bear high medical costs out-of-pocket. While bare metal stents are much cheaper, drug-eluting stents that offer better clinical outcomes are unaffordable for many patients. Further, there is a shortage of skilled interventional cardiologists in India to perform PCI procedures involving use of coronary stents. Manufacturers also face strict regulatory processes for new product approvals.

Segment Analysis

The India coronary stents market is dominated by metallic stents which holds around 85% market share. Metallic stents are preferred more as they provides better scaffolding of the artery as compared to bioabsorbable stents. However, bioabsorbable stents segment is emerging at fast pace and expected to witness significant growth during forecast period. Bioabsorbable stents gets absorbed in the body after scaffolding of artery which eliminates need for lifelong medications. This is the major factor driving demand of bioabsorbable stents in the country.

Global Analysis

Asia Pacific region dominates the India coronary stents market and is expected to continue its dominance during forecast period. Within Asia Pacific, India holds major share of coronary stents market due to increasing patient population of cardiovascular diseases. Favorable government initiatives to create awareness about heart diseases and availability of stents at affordable prices supports the market growth. North America is second largest regional market attributable to availability of advanced medical facilities and reimbursement schemes for costly stents. Growing aging population susceptible to heart risks further drives the demand of coronary stents in North America.

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