Coronary stents are small mesh tubes used to treat narrowed arteries of heart. They help improve blood flow and relieve symptoms of coronary artery disease. They provide better outcomes than balloon angioplasty alone in patients with narrowed arteries.
Market key trends:
Increasing use of bioresorbable stents over bare metal stents and drug eluting stents is one of the major trends witnessed in the market. Bioresorbable stents overcome limitations of permanent metal stents such as inability of the vessel to enlarge after the stent is implanted and risk of late stent thrombosis. They dissolve once artery is healed post implantation. This removes need for long term dual antiplatelet therapy which is required with permanent metal stents. As bioresorbable stents address unmet needs, their demand is increasing at a higher rate which is fueling growth of overall coronary stents market.
Segment Analysis
The India coronary stents market is segmented by product type into bare metal stents, drug-eluting stents, and bioabsorbable stents. The drug-eluting stents segment dominates the market owing to the capability of drug eluting stents to prevent renarrowing of arteries effectively in comparison to bare metal stents. The major factors favoring growth of drug eluting stents include technological advancements leading to the introduction of newer generations of drug eluting stents having better safety and efficacy profiles.
Key Takeaways
The Global India Coronary Stents Market Size is expected to witness high growth, exhibiting a CAGR of 13% over the forecast period, due to increasing prevalence of cardiovascular diseases and growing aging population in the country.
Regional analysis
Regionally, Southern India dominates the India coronary stents market due to growing medical tourism industry in the region coupled with rising awareness regarding cardiovascular interventions. States like Karnataka, Tamil Nadu, Kerala, Telangana are prominent markets.
Key players
Key players operating in the India coronary stents market are Abbott Laboratories, Medtronic, Inc, Biosensors Inc, Terumo Corporation, Boston Scientific Inc., Dickinson and Company, Cook medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products, Invent Bio-med Private Limited, Nano therapeutics pvt ltd, MIV therapeutics.
The global India coronary stents market size was valued at US$ 1,303.5 Mn in 2023 and is expected to reach over US$ 2,000 Mn by 2030, expanding at a compound annual growth rate (CAGR) of 13% from 2023 to 2030. Growth will be driven by increasing prevalence of coronary artery diseases and growing geriatric population in India.
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