India Coronary Stent Market is projected to surpass USD 1,213.5 Million by 2033 Amid Healthcare Innovations | FMI

The coronary stent market in India has reached a crucial milestone, with a valuation of USD 843.8 million in 2023, reflecting a transformative shift in the country’s approach to cardiovascular treatment. This growth signals a rising reliance on minimally invasive procedures and highlights the evolving landscape of India’s healthcare sector, which is increasingly focused on advanced and accessible medical solutions.

According to a recent market study by Future Market Insights (FMI), the Indian coronary stent industry is projected to surpass USD 1,213.5 million by 2033, expanding at a steady compound annual growth rate (CAGR) of 3.7% over the next decade. This upward trend underlines not only the growing burden of cardiovascular diseases (CVDs) but also the strides India is making in healthcare infrastructure, affordability, and technological innovation.

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Cardiovascular Disease Prevalence Fueling Market Expansion

The rising incidence of cardiovascular conditions—including diabetes, acute coronary syndromes, and hypertension—has become a key concern for public health in India. As one of the leading causes of mortality, cardiovascular disease has created a pressing need for effective, reliable, and accessible treatment solutions. Coronary stents, particularly drug-eluting stents (DES), are playing a pivotal role in addressing this challenge.

“Drug-eluting stents have emerged as the top-selling product in 2023,” notes the FMI report, citing their proven clinical efficacy and widespread adoption. These stents, which release medication to prevent restenosis, have significantly improved patient outcomes and reduced the risk of artery re-narrowing post-procedure. Their success has solidified their position as the preferred choice in the Indian interventional cardiology landscape.

Reimbursement Reforms Boosting Accessibility and Innovation

A major catalyst behind the market’s growth is the expansion and refinement of India’s reimbursement framework, which has enhanced the affordability and accessibility of coronary stent procedures for a broader segment of the population. Public health initiatives and insurance coverage under schemes such as Ayushman Bharat are helping bridge the gap between advanced medical technology and patient affordability.

The implementation of these reforms has not only benefitted patients but also encouraged manufacturers to invest in cost-effective, high-quality stent solutions. By reducing the financial burden on patients and hospitals, these policies are fostering an ecosystem of innovation, competition, and value-based care.

Healthcare Infrastructure and Technological Advancement

India’s healthcare sector is undergoing a robust transformation, with significant investments being channeled into infrastructure development, digital health integration, and medical device manufacturing. The coronary stent market is benefitting directly from these initiatives, especially through Make in India efforts that support localized production and reduce dependency on imports.

Additionally, the growth of catheterization labs, tertiary care centers, and specialized cardiac hospitals across Tier 2 and Tier 3 cities is making interventional cardiology more accessible across the country. These improvements are driving demand for coronary stents and creating new opportunities for market participants.

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Key Takeaways

• Dominance of Drug-Eluting Stents (DES):

Drug-eluting stents accounted for 77.9% of coronary stent adoption in India in 2023, making them the most widely used product type due to their proven effectiveness in preventing restenosis and reducing the need for repeat procedures.

• Proven Efficacy and Affordability:

DES have become the preferred choice not only because of their clinical benefits but also due to cost-effectiveness in the long run, especially relevant in India’s cost-sensitive healthcare landscape.

• Polymer Leads in Raw Materials:

Among raw material types, polymer-based stents led the market with a 33.5% share in 2023. Their biocompatibility and improved mechanical performance have made them increasingly popular.

• Biocompatibility Driving Polymer Preference:

Polymer-coated stents are well-tolerated by the body and offer smoother implantation, reducing complication risks. Advances in polymer tech are enhancing stent flexibility and deliverability.

• Healthcare Evolution Supporting Growth:

Improved infrastructure and surgical expertise in India are facilitating more widespread and successful use of advanced stents, including DES and polymer-coated options.

A Promising Outlook for Stakeholders

With its current growth trajectory and a decade of strong projections ahead, the Indian coronary stent market offers promising investment opportunities for both domestic and international stakeholders. Medical device companies, healthcare investors, and policymakers are aligning their efforts to support sustainable growth, patient-centric innovations, and regulatory compliance.

The future of the industry hinges on the continuous evolution of stent technologies, including next-generation biodegradable stents, bioresorbable scaffolds, and polymer-free drug coatings. These innovations are poised to redefine standards of care, reduce complications, and improve long-term clinical outcomes.

Moreover, strategic collaborations between private healthcare providers, public health agencies, and med-tech companies will be critical in scaling operations, expanding product reach, and promoting awareness about cardiovascular health and early intervention.

Competitive Landscape

The coronary stent market demonstrates a moderately fragmented structure, marked by the presence of both established global leaders and numerous regional and emerging players. This diverse mix fosters intense competition within the industry. To maintain a competitive edge, manufacturers continue to invest significantly in research and development while also refining their pricing strategies to attract a wider customer base—without compromising on product efficacy or safety.

Recent Developments in the Coronary Stent Market – India

• Translumina, a homegrown Indian company, has announced the international rollout of VIVO ISAR, an innovative dual-drug, polymer-free coated stent (DDCS). This next-generation drug-eluting stent (DES) highlights a pivotal advancement in the field—demonstrating that synthetic polymers can be excluded from DES without affecting performance or patient outcomes.
• Boston Scientific has introduced its Promus Element Everolimus-Eluting Stent System and Taxus Element Paclitaxel-Eluting Stent System in the Indian market. Both stents are built using state-of-the-art platinum chromium (PtCr) alloy and share a sophisticated catheter delivery system and optimized stent design for enhanced clinical outcomes.
• Medtronic launched the Resolute Onyx Drug-Eluting Stent (DES) in India. Featuring its proprietary Core Wire Technology, the Resolute Onyx sets a new standard for durability and performance in polymer-based DES, aiming to advance coronary artery disease treatment and pave the way for future innovations in stent technology.

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Key Industry Players Featured in the India Coronary Stent Market Report:

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

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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