Coronary stents are medical devices used to treat coronary heart diseases such as acute myocardial infarction and coronary artery diseases. Stents help in opening of blocked arteries and restoring normal blood flow to the heart. Increasing incidence of cardiovascular diseases such as heart attacks and strokes has boosted the demand for coronary stents in India. For instance, according to an estimate by the World Health Organization, cardiovascular diseases account for around 25% to 30% of all deaths in India each year.
The global India Coronary Stents Market is estimated to be valued at US$ 1303.5 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the India coronary stents market is the increasing preference for bioresorbable stents over traditional metallic stents. Bioresorbable stents gradually disappear or dissolve after performing their intended function of opening the blocked arteries. This eliminates the need for lifelong medications usually required with conventional stents. They provide structural support to the arteries for around 6 to 24 months and thereafter get absorbed by the body. With no permanent metal implant left behind in the body, bioresorbable stents help minimize complications such as restenosis. The development of innovative bioresorbable stents is expected to boost the growth of the India coronary stents market over the forecast period.
Segment Analysis
The India coronary stents market is segmented into bare-metal stents, and drug-eluting stents. Drug-eluting stents dominate the market as they lessen the chances of renarrowing of arteries and reduce the need for repeated procedures. As these stents slowly release drugs to prevent narrowed arteries, they are preferred by doctors and patients.
Key Takeaways
The Global India Coronary Stents Market Demand is expected to witness high growth. The global India Coronary Stents Market is estimated to be valued at US$ 1303.5 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.
Regional analysis related content comprises India accounts for over half the market share in South Asia due to growing cases of coronary artery disease and rising healthcare expenditure in the country. The huge patient population and improving healthcare infrastructure will drive market growth.
Key players related content comprises Key players operating in the India coronary stents market are Allflex, Datamars, Zee Tags, Leader Products. Allflex is a global leader in products for animal identification and traceability. Datamars manufactures RFID tags for animal identification and livestock tracking.
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