India Coronary Stents Market Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

India Coronary Stents Market
India Coronary Stents Market

The Indian healthcare industry is growing rapidly and is expected to continue to do so in the coming years. One of the key areas within this industry is the coronary stents market, which plays a crucial role in the treatment of heart diseases. Coronary stents are tiny mesh tubes that are used to treat narrowed or blocked arteries in the heart. They are placed during a procedure called percutaneous coronary intervention (PCI), which involves the insertion of a catheter through an artery in the arm or leg and up to the heart.

The coronary stents market in India has witnessed significant growth over the years, owing to several factors such as increasing prevalence of heart diseases, rising awareness about minimally invasive procedures, and favorable government policies. According to a report by Research and Markets, the Indian coronary stents market was valued at around $485 million in 2020 and is expected to reach $766 million by 2026, growing at a CAGR of around 7.6% during the forecast period.

There are three types of coronary stents available in the Indian market - bare-metal stents (BMS), drug-eluting stents (DES), and bioresorbable vascular scaffolds (BVS). BMS are the most basic type of stents and are made of metal. DES, on the other hand, are coated with a drug that helps prevent the formation of scar tissue inside the stent. BVS are the latest type of stents and are made of a material that dissolves over time, leaving behind only the natural artery tissue.

Among these three types, DES are the most commonly used in India, owing to their superior efficacy and safety compared to BMS. DES accounted for over 70% of the total coronary stents market share in India in 2020. However, the market share of BVS is expected to increase in the coming years, owing to the growing demand for minimally invasive procedures and the advantages offered by BVS such as reduced risk of late stent thrombosis and the ability to restore natural vessel function.

In terms of players in the Indian coronary stents market, there are several multinational companies such as Abbott Laboratories, Boston Scientific Corporation, and Medtronic, as well as domestic players such as Meril Life Sciences and Sahajanand Medical Technologies. Abbott Laboratories is the leading player in the market, owing to its wide product portfolio and strong distribution network. Other key players in the market include Boston Scientific Corporation, Medtronic, Meril Life Sciences, and Sahajanand Medical Technologies.

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