Coronary stents are small mesh tubes used to treat narrowed or blocked coronary arteries found in conditions like heart attacks and coronary heart disease. Made of metal mesh like stainless steel or polymer coatings, stents help open blocked arteries and improve blood circulation to the heart. The demand for coronary stents in India is increasing due to the rising prevalence of cardiac ailments like hypertension, diabetes and obesity. Rapid urbanization and changing lifestyles have contributed to higher cholesterol levels and cigarettes smoking over the years.
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 are Allflex, Datamars, Zee Tags, Leader Products, Fitbit, SCR Dairy, Animana, Cainthus, Connecterra, CowManager, HerdInsights, Moocall, Quantified AG, BouMatic, IdentiGEN, Ceres Tag, Ardes, LAIPSON, Kupsan, Stockbrands. The increasing incidence of cardiac conditions like heart attacks, atherosclerosis and coronary artery disease has fueled the demand for coronary stents in India. Technological advancements like drug eluting stents and bioabsorbable stents have improved treatment outcomes for patients with blocked arteries.
Market Trends
Growing preference for minimally invasive procedures: There is an increased adoption of minimally invasive India Coronary Stents Market Demand procedures like balloon angioplasty and coronary stenting over traditional open-heart bypass surgeries. Minimally invasive methods provide faster recovery times and less post-surgery complications.
Development of drug coated stents: Pharmaceutical and medical device companies are extensively researching polymer coatings and drug elution technologies to develop advanced drug-eluting stents. Some of the drugs being tested include paclitaxel, sirolimus and zotarolimus which can control cell proliferation and prevent re-stenosis.
Market Opportunities
Untapped rural areas: Most cardiovascular treatment facilities are concentrated in tier 1 and tier 2 cities in India. There is scope to increase awareness about heart diseases and expand stent availability in rural and remote areas.
Medical tourism: India has emerged as a top destination for medical tourism due to availability of talented cardiac surgeons and lower treatment costs compared to Western nations. This presents opportunities for stent manufacturers.
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Impact of COVID-19 on India Coronary Stents Market
The outbreak of COVID-19 pandemic has significantly impacted the growth of India coronary stents market. During the initial months of pandemic between March to May 2020, the procedures of angioplasty and coronary stenting declined drastically due to restrictions imposed by the government to contain the spread of virus. Hospitals shifted their focus on handling COVID-19 patients which led to postponement of non-emergency procedures. The patients also postponed their treatment due to fear of contracting infection from hospitals. This negatively impacted the demand for coronary stents during 2020.
However, as the restrictions were gradually lifted and healthcare facilities resumed their normal operations, the procedures of angioplasty and stent implantation picked up pace. The focus shifted from only treating COVID-19 patients to other non-COVID patients as well. The demand for coronary stents increased during the latter half of 2020 and continued in 2021. The doctors are more focused on minimizing hospital visits and treatment duration for cardiac patients to reduce infection risk. This is expected to drive the adoption of drug eluting stents which have better clinical outcomes and require lesser rehospitalization. The government initiatives to spread awareness about resuming important healthcare services and expanding healthcare infrastructure would further support the market growth in the coming years.
In India, the states of Maharashtra, Tamil Nadu, Karnataka and Delhi account for over 50% share of total coronary stent market in terms of value. This is due to concentration of major private and public hospitals, medical device companies, availability of trained physicians and higher disease prevalence rates in these states. The states with Tier 1 and Tier 2 cities have emerged as highest revenue generating regions for coronary stent market.
The Northeastern region of India comprising of states like West Bengal, Bihar, Jharkhand, Odisha is expected to show fastest growth in adoption of coronary stents during forecast period. This is attributed to ongoing government efforts to strengthen healthcare infrastructure, expanding coverage of health insurance, improving accessibility in rural areas and growing economic activity in these states. The increasing awareness about heart diseases, lifestyle changes and discounted pricing of stents would drive its higher adoption growth in Northeastern region of India.
Expansion of Healthcare Infrastructure in India's Northeastern Region
The Northeastern region comprising eight states is home to over 45 million people but lags behind other parts of the country in terms accessibility and quality of healthcare services. However, in recent years the government has taken several initiatives to strengthen medical infrastructure in this region through schemes like North East Special Infrastructure Development (NESID) and North East Century Development Project (NECDP).
New medical colleges are being set up, district and rural hospitals are being upgraded, telemedicine services are connecting remote areas, diagnostics facilities are being modernized. The government health insurance schemes like Ayushman Bharat and state-run programs are improving affordability of treatments. This is increasing awareness as well as enabling higher number of patients to undergo angiography, angioplasty and stent procedures. Supported by growing road and air connectivity, more trained cardiologists and critical care teams are getting attracted towards opportunities in Northeast states. The influx of private investment in healthcare delivery is further augmenting the capacity expansion. All these factors are expected to drive fastest growth in adoption of coronary stents from Northeast India in the forecast period.
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