INDIA CORONARY STENTS MARKET ANALYSIS

India Coronary Stents MarketSize and Trends

India Coronary Stents Market is estimated to be valued at US$  1,303.5 million in 2023 and is expected to exhibit a CAGR of 13.2 % during the forecast period (2023-2030).

Figure 1. India Coronary Stents Market Value (US$ Mn) & Y-o-Y Growth (%), 2018-2030

India Coronary Stents Market Segmentation:

The India Coronary Stents Market report is segmented into by Product Type, by material and end user.

By Product Type, the market is segmented into drug eluting stents, bare metal stents, bioreabsorbable vascular scaffold. Out of which, drug eluting stent is expected to hold a dominant position in the India Coronary Stents Market during the forecast period and this is attributed to the constant research advancements in drug eluting stents in the field of coronary stent market.

By material, the market is segmented into Cobalt Chromium, Stainless Steel, Platinum Chromium, Nickel Titanium, Polymer. Out of which, cobalt chromium expected to hold a dominant position in the India Coronary Stents Market during the forecast period and this is attributed to the increasing development of new stents.

By end user, the market is segmented into Hospitals, Ambulatory Surgical Centers, Cardiac Catheterization Laboratories.  Out of which, hospitals are expected to dominate the market over the forecast period and this is attributed to the increasing number of surgeries in the hospitals as compared to other sectors.

Among all the segmentations, the product type has the highest potential due to the increasing technological advancement and continuous launch of new products in the field of drug eluting stents. For instance, in August 2022, Medtronics, an U.S. based medical device company, launched a new drug eluting stent, the Onyx Frontier, which improves deliverability by 16%.

India Coronary Stents Market: Key Trends

In 2022, Health Ministry of India  notified the inclusion of coronary stent in the National list of Essential medicines. The prices of coronary stents have decreased significantly in India, owing to capping of the sale price of coronary stents by the Government of India. This has changed market dynamics in last few years. Improved affordability of stents has resulted in 30-40 % increase in usage of stents.