by Coronary stents are tiny mesh tubes used to treat narrow or weak arteries that supply blood to the heart. They are deployed via a minimally invasive procedure called percutaneous coronary intervention (PCI) or balloon angioplasty to reopen clogged arteries and improve blood flow. The demand for coronary stents in India is driven by the increasing incidence of lifestyle diseases such as diabetes, obesity, and hypertension that contribute to cardiovascular complications. Cardiovascular diseases are currently the leading cause of death in India, accounting for approximately 26% of total deaths annually.
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 Market are Allflex, Datamars, Zee Tags, Leader Products, SCR Dairy, Animana , Cainthus, Connecterra, CowManager, HerdInsights, Moocall, Quantified AG, BouMatic, IdentiGEN, Ceres Tag, Ardes , LAIPSON, Kupsan, Stockbrands. The major players are investing aggressively in R&D to develop advanced stents such as drug-eluting and bioresorbable stents. The government is also taking initiatives to create awareness about CVDs and promote preventive healthcare, which will drive the demand for coronary stents in India.
With rising medical infrastructure and healthcare expenditure, major global players see immense opportunities to establish their manufacturing units and distribution networks in India. Several international companies have entered strategic partnerships with domestic players to cater to the growing needs of the Indian India Coronary Stents Market The increasing penetration of health insurance is also expected to boost adoption of coronary stent procedures in the country.
Market Driver
The increasing prevalence of risk factors such as smoking, obesity, physical inactivity and an unhealthy diet in urban India is a major driver for the India Coronary Stents Market Demand Rising life expectancy and growing geriatric population susceptible to cardiac diseases also contribute to the demand. Favorable government policies regarding health insurance coverage for cardiac interventions, Import tariff reductions on stents, and efforts to curb outdated bare-metal stents in favor of advanced drug-eluting variants are fueling market growth. Initiatives to spread awareness about heart health and promote PCI facilities especially in tier 2/3 towns will further support the adoption of coronary stent procedures.
PEST Analysis
Political: The government policies and regulations play an important role in the development and growth of the coronary stents market in India. The government aims to increase healthcare spending which will boost investment and innovation in this sector.
Economic: Rising disposable incomes, growing healthcare expenditure, and increasing incidence of lifestyle diseases like diabetes and obesity are driving the demand for coronary stents in India. The growing economy is also encouraging private sector participation and investment in healthcare infrastructure and facilities.
Social: Growing awareness about heart diseases and availability of treatment options is positively impacting the market. People are more willing to spend on healthcare to treat cardiovascular conditions. Adoption of unhealthy dietary and lifestyle habits has increased risk of heart attacks among younger population as well.
Technological: Advancements in material sciences and manufacturing technologies help launch newer generations of drug-eluting stents and bioresorbable stents with better efficacy and safety profiles. Integration of IT solutions and e-health services facilitates remote monitoring of patients and streamlines supply chain operations of market players.
Geographical regions where market in terms of value is concentrated:
The coronary stents market remains concentrated in major metropolitan cities of India like Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Ahmedabad due to availability of high-end private healthcare facilities and cardiac specialists. The National Capital Region (NCR) and states of Maharashtra and Tamil Nadu account for around 40% of the total market value due to advanced medical infrastructure and large patient pools.
Fastest growing region for the market:
North-Eastern parts of India consisting of West Bengal, Odisha, Assam, etc. are expected to witness highest growth in demand for coronary stents over the forecast period. Significant government initiatives to strengthen rural healthcare systems, increase health insurance penetration, and set up networks of diagnostic labs and clinics are positively impacting the market expansion in this region. Economic growth and lifestyle transitions in Eastern India are also leading to surge in coronary artery diseases.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
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