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INDIA CORONARY STENTS MARKET ANALYSIS India Coronary Stents Market,By Product Type (Drug Eluting Stents, Bare Metal Stents, Bioresorbable Vascular Scaffold), By Material (Cobalt Chromium, Stainless Steel, Platinum Chromium, Nickel Titanium, Polymer), By End User (Hospitals, Ambulatory Surgical Centers, Cardiac Catheterization Laboratories) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
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.
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.
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.
Market Trends • 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.
Fig1.Value Chain Analysis
Competitive Section Major players operating in India coronary stents market include, Abbott Laboratories, Medtronic, Inc., Biosensors Inc., Terumo Corporation, and Boston Scientific Inc.
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 drugeluting stent.
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Reference: https://www.coherentmarketinsights.com/market-insight/in dia-coronary-stents-market-3484
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