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Coronary stents are small mesh tubes used to treat narrowed coronary arteries and blood flow to the center. The coronary arteries supply oxygenated blood to the core muscles. Stents act as scaffolds to keep arteries open and symptoms.
Burlingame, January 11, 2024 (GLOBE NEWSWIRE) — Coherent Market Insights recently released a report titled India Coronary Stent Market, via Product Type (Drug-Eluting Stents, Bare Metal Stents, Bioresorbable Vascular Scaffold), Through Material (Drug-Eluting Stents). Stents, bare metal stents, bioresorbable vascular scaffin), through the material (drug-eluting stents, bare metal stents, bioresorbable vascular scaffin). Chromium, Stainless Steel, Platinum Chrome, Nickel Titanium, Polymer), to End-User (Hospitals, Ambulatory Surgery) Centers, Cardiac Catheterization Laboratories: Global Opportunity Analysis and Industry Forecast, 2024-2031″. According to the report, the coronary stent market generated $1,303. 5 million in 2023 and is expected to generate $3,104. 8 million through 2031, developing at a CAGR of 13. 2%. from 2024 to 2031.
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The increasing prevalence of cardiovascular disease creates the need and demand for the use of coronary stents to identify their severity. For instance, on September 29, 2022, according to the study conducted by the Indian Council of Medical Research and the Registrar General of India, India accounted for about 60% of the global burden of central diseases. The study by the British giant Biobank, published in the journal Heart, linked COVID-19 to an increased risk of core diseases, especially in people with severe infection. , a peak prevalence of cardiovascular diseases is projected to increase the need for surgery to reduce the severity, which would increase the expansion of the coronary stent market in India during the forecast period.
Key Market Takeaways:
The drug-eluting stents segment is expected to undergo significant expansion due to declining coronary stent costs in India. For example, the National Pharmaceutical Pricing Authority (NPPA) approved a 4. 2% increase in central stent costs, in line with the April 2019 Price Index (MPI).
Among the curtain segments, cobalt chromium held a dominant position in the Indian coronary stent market, followed by platinum chromium and polymer, respectively. Cobalt-chromium alloy offers benefits such as decreased stent thrombosis rates, cobalt alloy is more potent and more compatible with MRI. than other curtains.
The key players operating in the India coronary stent market are Abbott Laboratories, Medtronic, Inc, Biosensors Inc, Terumo Corporation, Boston Scientific Inc. , Becton, Dickinson and Company, Cook Medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products. , Invent Bio-med Private Limited, Nano Therapeutics pvt ltd, MIV Therapeutics.
Key Market Developments:
NPPA reimbursement is awarded to products that meet certain key criteria, such as progression of new and cutting-edge medicines, researched and manufactured locally, as well as patented under the Indian Patents Act 1970. For instance, on February 29, 2020, the National Pharmaceutical Pricing Authority granted an exceptional exemption to an Indian-made stent, the MeRes100, the bioresorbable vascular structure stent, manufactured by Vapi-based medical generation company Meril Life Sciences. The stent was approved by the Central Organization for Standard Control of Medicines in 2017 and is awaiting government approval for an exemption from the value limit.
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Market Driver:
Increasing use of coronary stents in cardiac surgeries
Increasing Percutaneous Coronary Intervention (PCI) surgeries and use of coronary stentsis expected to propel growth of India coronary stents market over the forecast period. For instance, A report published in Indian heart journal in April 2019 regarding Indian coronary intervention data for the year 2017, it was seen that a total of 3,87,416 percutaneous coronary intervention (PCI) procedures were performed in 705 centers. This equates to a 3.7% growth as compared to data obtained in 2016.
Market Opportunity:
Manufacture of stents and expansion of cardiovascular facilities
Market players operating in India in the coronary stents sector are focusing on expanding the coronary stents portfolio in India, which is expected to create more opportunities for the market in the future. For example, on April 16, 2022, Sahajanand Medical Technologies, an India-based cardiac stent manufacturer, debuted its stent production and cardiac device installation at Hyderabad, India Medical Device Park.
Market Restraint:
Side effects of coronary stent
For instance, according to report published on May 1, 2022, at Harvard heart letter, main two side effects associated with prolonged use of stents are gradual renarrowing of the area inside the stent, known as restenosis and the formation of clots inside the stent, called stent thrombosis. Apart from these, reactions to the dye used in the procedure, blood clotting, chest pain, stent failure can also be observed in patients.
Read complete market research report,”India Coronary Stent Market, By Product Type, By Material, By End User, By Geography, Market Size And Share Analysis – Growth Trends And Forecasts 2024-2031″, Published by Coherent Market Insights.
Detailed segmentation:
India Coronary Stents Market , By Product Type:
Drug eluting stents
Bare steel stents
Bioabsorbable vascular scaffold
Indian Coronary Stent Market, Through Material:
Cobalt chromium
Stainless steel
Platinum Chromium
Nickel Titanium
Polymer
India Coronary Stent Market, Via End-User:
hospitals
Ambulatory Surgical Centers
Cardiac Catheterization laboratories
India Coronary Stent Market, by Region:
North America
WE.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Europe’s
Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Middle East & Africa
South Africa
GCC countries
Rest of the Middle East and Africa
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