India, being the second most populous country in the world and with rising burden of cardiovascular diseases, has emerged as one of the major markets for coronary stents globally. With rapidly increasing elderly population and changing lifestyle leading to higher risk factors like diabetes, hypertension etc., the demand for minimally invasive procedures like percutaneous coronary intervention (PCI) using coronary stents is on the rise in the country.
Coherent Market Insights analyses the current market landscape of coronary stents in India, major players, regulations and future growth potential in India Coronary Stents Market.
Types of Coronary Stents Available
There are primarily two major types of coronary stents available in the Indian market – Bare Metal Stents (BMS) and Drug Eluting Stents (DES). While BMS are plain metallic stents used to help reopen blocked arteries, DES are coated with medications which are slowly released to prevent renarrowing of arteries. Some of the commonly used DES include sirolimus-eluting stents, paclitaxel-eluting stents and zotarolimus-eluting stents.
In terms of volumes, DES have captured a major share of over 75% in the Indian coronary stents market due to better clinical outcomes compared to BMS. However, BMS still have their importance in certain patient groups and clinical settings due to lower cost. There are also newer generation stents being introduced like bioabsorbable stents which dissolve in the body over time.
Key Players and Market Shares
The coronary stents market in India is dominated by multinational medical device giants with strong local presence and distribution. Some of the major players include Abbott Vascular, Boston Scientific, Medtronic, Terumo and B. Braun. Domestic players are also emerging but have relatively lower market shares currently.
As per industry reports, Abbott Vascular leads the market with over 35% share followed by Boston Scientific with around 25% share. Other major players like Medtronic and B. Braun have shares of 15-20% range. The competitive landscape continues to evolve with new product launches and market expansion strategies by key brands.
Regulatory Environment and Guidelines
Being a medical device, Coronary Stentsfall under the regulatory purview of Central Drugs Standard Control Organization (CDSCO), which is the National Regulatory Authority for pharmaceuticals and medical devices in India. Stents need to be endorsed by FDA (USA) or CE (Europe) before they can be marketed in India.
In 2016, CDSCO came up with stringent regulatory guidelines for stents including requirement of local clinical data for new stent models. This was aimed at ensuring quality and safety of implanted stents. Since then stents approvals have become more robust based on outcomes demonstrated in Indian population as well. More recently,CDSCO has also initiated steps for post-market surveillance of implanted stents.
Future Market Growth Drivers
Rising Prevalence of Heart Disease: Cardiovascular diseases have emerged as the leading cause of death in India contributing to over 25% of total deaths annually. With aging population and lifestyle transitions in the country, the burden of coronary artery diseases, heart attacks is projected to further increase in coming years. This will directly translate to greater demand for angiography and percutaneous coronary intervention procedures using coronary stents.
Growing Healthcare Infrastructure and Access: Government initiatives like Ayushman Bharat, expansion of health insurance schemes, increase in number of cardiac care hospitals and centres especially Tier 2/3 cities are helping improve accessibility to cardiac treatments in India. This will boost utilization of life-saving devices like coronary stents.
New Innovation and Product Launches: With a huge potential, India is attracting significant research and development investments from global medical technology giants. Many new generations of stents tailored for Indian patients as well as value pricing models are being introduced to tap into this important market.
Market Outlook
The coronary stents market represents one of the fastest growing segments within the large medical devices industry. As per reliable market estimates, the global coronary stents market was valued at over USD 8 billion in 2019 and has been witnessing a solid growth of 6-8% annually. Regionally, developed markets in United States and Western Europe accounted for around 60% share but emerging markets like China, India are demonstrating higher growth rates.
Factors like economic expansion, healthcare reforms in India point towards significant prospects for coronary stents sector over the next decade. As living standards and medical capabilities continue rising across smaller cities, further penetration of life-saving therapies could be expected. Top medical device players are well-positioned to tap into this growing market through right pricing models and innovations tailored for Indian patients.
