Industrial Analysis of Coronary Stent in India Poised for Remarkable Growth, Set to Reach USD 1,213.5 Million by 2033

The industrial analysis of coronary stent in india has surged to a valuation of USD 843.8 million in 2023, driven by the increasing demand for minimally invasive procedures amid a rising incidence of cardiovascular diseases. This growth trajectory positions the industry for significant expansion, with projections indicating potential adoption exceeding USD 1,213.5 million by 2033. The sector’s steady upward trend is underscored by a compound annual growth rate (CAGR) of 3.7%.

India’s healthcare landscape, fortified by a robust infrastructure and structured reimbursement framework, has fostered this growth in coronary stent adoption. The industry’s evolution has been marked by advancements in product innovation and cost-effectiveness strategies, enabling manufacturers to thrive in a competitive market environment.

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“Amidst the backdrop of increasing cases of diabetes, acute coronary syndromes, and hypertension, the coronary artery stent industry in India is witnessing significant expansion,” said FMI. “The preference for drug-eluting stents, owing to their efficacy and global acceptance, has positioned them as the leading product type in 2023.”

The adoption of coronary stents is not only driven by medical advancements but also by the proactive measures taken within India’s healthcare sector to meet the growing demands of its population. This trend underscores the industry’s potential for sustained growth in the coming decade.

Key Takeaways:

• In patients with PCI with a high risk of bleeding, a balloon stent covered with paclitaxel and iopromide is preferable over bare metal stents in India.
• In 2023, drug-eluting stent is leading the adoption of coronary stents in India, favored for their proven effectiveness and global acceptance in the medical community.
• Abbott Laboratories is India’s industry leader for coronary stents as of 2023, followed by Biotronik SE & Co, Boston Scientific, and Medtronic.

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Competitive Landscape:

In the coronary stent industry, one can observe a certain level of fragmentation, marked by numerous contenders vying for a slice of the industry pie. Alongside dominant leaders, there exists a significant presence of smaller regional players, contributing to a competitive landscape. As part of their strategic approach, manufacturers have invested substantial resources into research and development. They have also adeptly adjusted pricing models to maintain competitiveness, with a focus on reaching a broader customer base without compromising product quality.

Key Industry Players Profiled in the India Coronary Stent Report:

• Abbott Laboratories
• Medtronic, Inc.
• Biosensors Inc.
• Boston Scientific Inc.

Recent Developments:

• The E-MAGIC Plus Sirolimus Drug-Eluting Stent was introduced by Opto Eurocor Healthcare Limited (OEHL), a division of Bangalore-based Opto Circuits (India) Ltd., a medical equipment manufacturer. The launch occurred after receiving permission from the Drug Controller General of India (DCGI) to sell and advertise the medicine in India. With the introduction of E-MAGIC Plus, Opto Circuits has joined a select group of international companies that provide DES devices with two drug coatings.
• For eligibility to sell Infinnium in the European Union and numerous other countries across the world, Sahajanand Medical Technologies (SMT) has been granted CE certification, a certificate of authorization. The Infinnium paclitaxel-eluting coronary stent system is a first-of-its-kind locally designed coronary stent for treating coronary artery disease (CAD) and provides unparalleled clinical outcomes with an outstanding safety profile.

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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

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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