Coronary Stent Adoption in India Set to Reach USD 1,213.5 Million by 2033 at a 3.7% of CAGR

The coronary stent market in India is experiencing significant growth, with an estimated valuation of USD 843.8 million in 2023. This surge is primarily driven by the growing demand for minimally invasive procedures to treat cardiovascular diseases, which are on the rise due to an aging population and changing lifestyle factors. As a result, projections indicate that the adoption of coronary stents in India could exceed USD 1,213.5 million by 2033, reflecting a steady compound annual growth rate (CAGR) of 3.7% over the forecast period.

The demand for coronary stents has been propelled by the increasing incidence of cardiovascular diseases (CVDs), a leading cause of death in India. The preference for minimally invasive surgeries is expected to further contribute to the market’s growth, as patients and healthcare providers seek less invasive, more effective solutions for heart disease management.

Advancements in stent technologies, including drug-eluting stents, have also played a crucial role in the market’s expansion by improving patient outcomes and reducing complications. Additionally, the growing accessibility to modern healthcare infrastructure in urban and rural India is expected to drive wider adoption in the coming years.

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Key Takeaways:

• Market Growth: The coronary stent market in India is projected to grow from USD 843.8 million in 2023 to USD 1,213.5 million by 2033, at a steady CAGR of 3.7%.
• Increasing CVD Incidence: The rise in cardiovascular diseases is a significant driver of coronary stent adoption in India.
• Minimally Invasive Procedures: A growing preference for less invasive heart treatments is boosting demand for coronary stents.
• Technological Advancements: Innovations in stent technology, such as drug-eluting stents, are improving patient outcomes and encouraging wider usage.

Market Dynamics

1. Rising Cardiovascular Diseases: The increasing prevalence of cardiovascular conditions, particularly among the aging population and those with sedentary lifestyles, is driving demand for coronary stents.
2. Minimally Invasive Procedures: There is a growing preference for minimally invasive surgical techniques, which are associated with shorter recovery times and reduced hospital stays.
3. Technological Advancements: Innovations in stent technology, including drug-eluting and bioresorbable stents, are enhancing treatment outcomes and patient safety.

Regional Insights

• The adoption of coronary stents is particularly high in urban areas where healthcare facilities are more advanced.
• North America and Europe are leading markets globally, but India is experiencing significant growth due to improvements in healthcare access and affordability.

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.

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)

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