The India Coronary Stents Market is estimated to be valued at US$ 1,303.5 Mn in 2023 and is expected to exhibit a CAGR of 13. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 
Coronary stents are tubular mesh structures inserted permanently into the coronary arteries to keep them open in the treatment of coronary artery disease. They are needed for restoring blood flow in narrowed or blocked coronary arteries and preventing arteries from reclosing after angioplasty. Coronary stents reduces the risk of restenosis and improves clinical outcomes in patients with coronary artery diseases.

Market key trends:
The India coronary stents market is driven by the rising prevalence of cardiovascular diseases such as coronary artery disease in India. As per World Health Organization estimates, cardiovascular diseases accounted for 28.1% of total deaths in India in 2016. The rising risk factors such as growing geriatric population, increasing stress levels, unhealthy diet, lack of exercise, diabetes, hypertension etc. have contributed significantly to the increased burden of cardiovascular diseases in India. Moreover, favorable government policies for improvement of healthcare infrastructure and increasing healthcare expenditure is also expected to boost the India coronary stents market growth over the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as it requires large capital investments and established distribution channels. Bargaining power of buyers: The bargaining power of buyers is high given the presence of numerous players and substitutes. Bargaining power of suppliers: Suppliers have moderate bargaining power given the intellectual property on product designs. Threat of new substitutes: Substitutes like balloon angioplasty pose a threat. Competitive rivalry: Intense competition exists among existing players.

SWOT Analysis

Strengths: Large product portfolio and R&D investments by key players. Weaknesses: High pricing of drug eluting stents and less adoption in rural areas. Opportunities: Rising cardiovascular diseases and government schemes. Threats: Price controls and presence of local manufacturers.

Key Takeaways

The Global India Coronary Stents Market Size is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing prevalence of cardiovascular diseases and rising healthcare spending. Regionally, the market is dominated by North India and is expected to grow the fastest during the forecast period attributed to growing awareness and procedural volume.

Key players operating in the India Coronary Stents Market are Abbott Laboratories, Medtronic, Inc, Biosensors Inc, Terumo Corporation, Boston Scientific Inc.,  Cook medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products, Invent Bio-med Private Limited, Nano therapeutics pvt ltd, MIV therapeutics. Abbott Laboratories holds the major market share owing to its diversified product portfolio.

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