India Coronary Stent Market Reaches USD 1,213.5 Million by 2033, Poised for Continued Growth

Posted on 2024-09-30 by Future Market Insights in Healthcare, Internet & Online // 0 Comments

The coronary stent market in India has reached a significant milestone, valued at USD 843.8 million in 2023, marking a pivotal shift towards minimally invasive medical treatments. This growth reflects the increasing prevalence of cardiovascular diseases (CVDs) and a rising demand for advanced healthcare solutions.

The market is expected to maintain its upward trajectory, with projections indicating a market value surpassing USD 1,213.5 million by 2033. With a compound annual growth rate (CAGR) of 3.7%, the coronary stent industry in India presents robust development and promising investment opportunities for healthcare stakeholders.

One of the key drivers of this growth is the advancement in India’s healthcare infrastructure, particularly through the implementation of a comprehensive reimbursement framework. This has played a crucial role in making coronary stents more accessible to patients and fostering innovation in product development. As a result, manufacturers are delivering more cost-effective, high-quality stents, addressing the growing demand for cardiovascular treatments.

In light of the increasing incidence of diabetes, acute coronary syndromes, and hypertension, the coronary stent industry is witnessing substantial expansion. “Drug-eluting stents, recognized for their efficacy and global acceptance, have become the leading product in 2023,” according to a report by Future Market Insights (FMI). These stents have been instrumental in improving patient outcomes, offering enhanced treatment options for those suffering from CVDs.

As the market continues to evolve, there is a strong emphasis on ongoing innovation, ensuring improved patient care. With the dedication to meeting the country’s healthcare needs and the continuous improvement in coronary stent technologies, the future of the industry looks promising.

Key Takeaways:

In patients with percutaneous coronary interventions (PCI) at high risk of bleeding, balloon stents covered with paclitaxel and iopromide are preferred over bare metal stents in India.
Drug-eluting stents are leading the market in 2023, favored for their proven effectiveness and global acceptance.
Abbott Laboratories stands as the industry leader for coronary stents in India, followed by Biotronik SE & Co., Boston Scientific, and Medtronic.

Coronary Stent in India Trends Unveiled: Get a Complete Overview with Insights from Our Full Report!

Competitive Landscape:

The coronary stent market is characterized by a competitive landscape, with numerous players vying for market share. Dominant leaders are joined by smaller regional players, contributing to a fragmented market environment. Manufacturers are investing heavily in research and development and have adjusted pricing models to enhance competitiveness while maintaining high product quality.

Key Industry Players:

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

Recent Developments:

Opto Eurocor Healthcare Limited (OEHL), a division of Bangalore-based Opto Circuits (India) Ltd., has introduced the E-MAGIC Plus Sirolimus Drug-Eluting Stent. The launch follows approval from the Drug Controller General of India (DCGI) and positions Opto Circuits among the select international companies offering DES devices with dual drug coatings.
Sahajanand Medical Technologies (SMT) has received CE certification for its Infinnium paclitaxel-eluting coronary stent system, a locally designed innovation that delivers exceptional clinical outcomes and safety for treating coronary artery disease (CAD).

Market Segmentation:

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

The coronary stent market in India is set for sustained growth, driven by medical advancements and proactive healthcare measures. As the industry continues to evolve, it remains well-positioned to meet the increasing demands of a growing population and contribute to improved cardiovascular care.

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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