Coronary heart disease prevalence has been rising in India. For instance, according to a 2020 article in the Medical Journal of the Indian Armed Forces, the age-standardized mortality rate from cardiovascular disease in India is substantially higher (272 per 100,000 people) than the global average (235 per 100,000 people). According to data on "Accidental Deaths & Suicides in India" (ADSI) compiled by the National Crime Records Bureau (NCRB) and published in 2021, the number of deaths in India from heart attacks has consistently exceeded 25,000 in the years 2020–2021 and over 28,000 in the previous three years, with 70% of heart attack deaths occurring in the 30–60 age group. Due to the inclusion of coronary stents on the Indian government's list of essential medicines, the market for coronary stents in India is predicted to increase significantly. For instance, the Union Health Ministry of India stated in November 2022 that cardiac stents would be included to the National List of Essential Medicines, 2022, making them more inexpensive in India.The Ministry of Health and Family Welfare published a list called the National List of Essential Medicines (NLEM).
According to Coherent Market Insights, The market for Coronary Stents in India is anticipated to reach an estimated value of US$ 1,303.5 million in 2023 and to grow at a CAGR of 13.2% from 2023 to 2030.
Key Competitors in the India Coronary Stents Industry:
1. Abbott Laboratories
The company was started in 1888 and is based in Chicago, Illinois, United States. The business finds, creates, produces, and markets a diverse range of healthcare goods and services. Pharmaceuticals, nutritional, diagnostic, and vascular items are among the offerings of the company. Lingo, a series of consumer bio wearable sensors that collects a variety of biological measurements to optimise exercise and dietary plans, was released by Abbott in January 2022.
2. Becton, Dickinson and Company
The company was established in 1897 and has its headquarters in New Jersey, U.S. The business produces and markets reagents, instrument systems, and medical equipment. BD receives FDA 510(k) clearance in March 2023 for the first-ever high-throughput diagnostic test for infectious vaginitis. BD will launch a High-Throughput Single-Cell Multiomics Platform in February 2023 to broaden the scope of scientific discovery.
3. Medtronic Plc
The company is headquartered in Dublin, Ireland, and was established in 1949. Medical diagnostic and therapeutic products are produced by Medtronic, PLC. In April 2022, the company declared that it would collaborate with GE Healthcare to address the care needs at ambulatory surgery centres. The purchase of Affera, Inc. was announced by the business in January 2022. The company announced its intent to purchase Stimgenics, LLC and their core treatment in January 2020.
4. Boston Scientific
The company was established in 1979 and has its US headquarters in Marlborough, Massachusetts. The company designs, fabricates, and markets equipment for minimally invasive medical procedures. In January 2021, Boston made the announcement that it would spend up to $1.2 billion to purchase Minneapolis-based Preventice Solutions, Inc. and its portfolio of mobile heart health products.
5. Biosensors Inc.
The company was started in 1990 and is based in Singapore. The business specializes on creating, producing, and licensing technologies for use in critical care and interventional cardiology procedures. The fifth test to be made available on the Sentia wine testing platform, the Acetic Acid biosensor test, was launched by the company in February 2023.
6. B Braun Melsungen AG
The company was founded in 1839 and is based in Melsungen, Germany. The company provides a variety of products for surgical core procedures, emergency care, extracorporeal blood therapies, and critical care units. B. Braun purchased Intermedt Medizin & Technik GmbH, an expert in the creation of dialysis concentrates, in March 2022.
7. Terumo Corporation
The firm was founded in 1921 and is based in Tokyo, Japan. The business is a producer and seller of pharmaceuticals, medical supplies, and apparatus. The company sells artificial organs, clinical testing systems, health foods, electronic thermometers, disposable medical supplies, and transfusion and infusion equipment.
*Definition: The introduction of expandable tubular metallic implants known as coronary stents (CS) into blocked coronary arteries caused by the underlying atherosclerotic disease. Percutaneous coronary intervention (PCI) or coronary angioplasty with stent implantation are the terms used to describe this revascularization treatment.
