India Coronary Stents Market – Insights

Coronary stents are small interventional devices used for opening blocked arteries. These stents are also used to prevent re-narrowing of the arteries. The procedure used to reduce blockages is known as Percutaneous Transluminal Coronary Angioplasty (PTCA).

India coronary stents market is estimated to account for US$ 671.3 Mn in terms of value in 2018 and is expected to reach US$ 2,049.9 Mn by the end of 2027.

India Coronary Stents Market: Drivers

Increasing prevalence of coronary heart disease is a major factor boosting growth of India coronary stents market over the forecast period. For instance, according to the study ‘Divergent trends in ischaemic heart disease and stroke mortality in India from 2000 to 2015: a nationally representative mortality study’, published in the journal Lancet in August 2018, heart ailments caused more than 2.1 million deaths in India in 2015 at all ages. Moreover, 0.9 million deaths were caused by coronary heart disease and 0.4 million by stroke in the year.

Moreover, high adoption of stents in treatment of cardiovascular blockage is also expected to aid in growth of the market. Stents implantation is highly preferred as compared to more invasive bypass surgeries, owing to non-invasive nature, which offers less discomfort and shorter recovery time for patients.

India Coronary Stents  | Coherent Market Insights

India Coronary Stents Market: Restraints

Lack of centers offering PCI and primary PCI procedures, especially in tier II and tier III cities, and low accessibility to healthcare facilities in rural areas in India is expected to inhibit growth of the market.

Moreover, ischemic adverse events related to coronary stenting including ischemia-driven target lesion revascularization and stent thrombosis are also expected to hamper growth of the market.

Drug Eluting Stents segment in India coronary stents market was valued at US$ 571.4 Mn in 2018 and is expected to reach US$ 1,846.5 Mn by 2027 at a CAGR of 14.0%% during the forecast period.

India Coronary Stents  | Coherent Market Insights

Market Trends/Key Takeaways

The market is witnessing increasing adoption of PCI. For instance, according to a report by National Intervention Council , India, and Apollo Health City, India, published in April 2019, a total of 3,87,416 PCI procedures were performed in 705 centers in India in 2017, which accounted for a 3.7% growth compared to that in 2016.

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 in February 2017. The market witnessed 80% decrease in prices of coronary stents. However, in April 2019, National Pharmaceutical Pricing Authority (NPPA) approved hike in prices of cardiac stents by 4.2% in-line with the wholesale price index (WPI) of 2018.

The use of a balloon coated with paclitaxel and iopromide is preferred over bare-metal stents in patients with high bleeding risk undergoing PCI. According to the results of the single-blind, randomized, noninferiority DEBUT trial conducted by researchers from Harvard Medical School and published in The Lancet in May 2019, PCI with drug-eluting balloons is noninferior to PCI with bare-metal stents for treatment of de novo coronary artery lesions in patients with high bleeding risk.

Value Chain Analysis

India Coronary Stents  | Coherent Market Insights

India Coronary Stents Market: Competitive Landscape

Major players operating in India coronary stents market include, Abbott Laboratories, Medtronic, Inc., Biosensors Inc., Terumo Corporation, and Boston Scientific Inc.

India Coronary Stents Market: Key Developments

Major players in the market are focused on gaining regulatory approvals to expand their product portfolio. For instance, in May 2018, Abbott received the U.S. FDA approval for XIENCE Sierra, the new generation of everolimus-eluting coronary stent. XIENCE received approval from the Japan’s regulatory body in April 2018.

In April 2018, Terumo Corporation, a Tokyo-based medical device company, received CE mark for Ultimaster TANSEI drug-eluting stent.

Stents are medical devices intended to use for the treatment of blocked vascular paths and the procedure used to reduce the blockages is known as percutaneous transluminal coronary angioplasty (PTCA). The stents used for arterial blockage are known as coronary stents or heart stents. There are three types of stents such as drug eluting stents, bare metal stents, and Bioresorbable Vascular Scaffold. Drug eluting stents are small expandable mesh tube made up of medical-grade stainless steel or cobalt alloy metal, that are inserted into the coronary arteries of patients suffering with atherosclerosis. Stent helps to hold the artery open, to release a drug that prevents blockage in artery and improves blood flow in artery.

Restraints of the India Coronary Stents Market

Lack of centers offering PCI and primary PCI procedures, especially in tier II and tier III cities, and low accessibility to healthcare facilities in rural areas in India is expected to inhibit growth of the market.  

Key features of the study:

  • This report provides in-depth analysis of the India coronary stents market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the India coronary stents market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Abbott Laboratories, Medtronic, Inc., Biosensors Inc., Terumo Corporation, and Boston Scientific Inc.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The India coronary stents market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • India Coronary Stents Market, By Product Type:
    • Drug Eluting Stents
    • Bare Metal Stents
    • Bioresorbable Vascular Scaffold
  • India Coronary Stents Market, By Material:
    • Cobalt Chromium
    • Stainless Steel
    • Platinum Chromium
    • Nickel Titanium
    • Polymer
  • India Coronary Stents Market, By End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Cardiac Catheterization Laboratories
  • Company Profiles
    • Abbott Laboratories *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Medtronic, Inc.
    • Biosensors Inc.
    • Terumo Corporation
    • Boston Scientific Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product
      • Market Snippet, By Material
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. India Coronary Stents Market, By Product Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Drug Eluting Stents
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Bare Metal Stents
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Bioresorbable Vascular Scaffold
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
  5. India Coronary Stents Market, By Material, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Cobalt Chromium
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Stainless Steel
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Platinum Chromium
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Nickel Titanium
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Polymer
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  6. India Coronary Stents Market, By End User, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Cardiac Catheterization Laboratories
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  7. Competitive Landscape
    • Company Profiles
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medtronic, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Biosensors Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Terumo Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Boston Scientific Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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