India Coronary Stent Market

Coronary Stent Market: Driven by Increasing Number of PCI Procedures and Favorable Reimbursement Policies: India Industry Analysis and Opportunity Assessment 2016 - 2026

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Introduction

Coronary stent is an expandable tube device used to keep the artery open during treatment of coronary heart disease. It is placed in arteries that supply blood to the heart during a procedure called percutaneous coronary intervention (PCI) or angioplasty. The procedure helps reduce chest pain (angina) and increase survival rate of patients. Increasing PCI procedure in India is expected to drive demand for coronary stents, as risk of coronary heart disease is higher among elderly individuals, owing to increasing prevalence of diabetes, acute coronary syndromes and hypertension along with relatively fast detection of disease. Furthermore, increasing per capita income, strong healthcare infrastructure and well established reimbursements are soaring demand for coronary stents in India. India coronary stents market is segmented by product type, raw material and end user.

Market Value and Forecast

India coronary stents market is estimated to be valued at US$ 531 Mn by 2016 end and is expected to expand at a CAGR of 14.0% over the forecast period (2016–2026)

Market Dynamics

Demand for coronary stents is currently witnessing robust growth in India, mainly due to FDA approval for new stents and increasing number of PCI procedures in hospitals. The coronary stents market in India is mainly dominated by MNCs, accounting for the largest share of 70%.  Rising health consciousness and increased healthcare expenditure is expected to drive the market in near future. Macroeconomic factors such as favourable government reimbursement policies and increase in FDI in healthcare sector is further projected to drive growth of the market. Other prominent growth drivers include rapidly growing medical technology industry and rising affordability of CHD treatment. However, chances of restenosis after angioplasty is a major factor expected to hamper overall growth of coronary stents market over the forecast period. Moreover, lack of well-established distribution channel associated with stents increases overall cost associated with it, which in turn is negatively impacting overall adoption of stents in the country.

Market Segmentation by Product

On the basis of product type, the market has been segmented into Drug Eluting Stent (DES), Bare Metal Stent (BMS) and Bioresorbable stent (BVS). Drug Eluting Stent product type segment is expected to exhibit the highest growth over the forecast period. BMS segment is expected to exhibit stable growth during the forecast period. This is mainly attributed to emergence of new and effective stents in the market, which are expected to stabilize growth of the BMS segment.

Market Segmentation by Raw Material

On the basis of raw material, the market has been segmented into cobalt-chromium, stainless steel, platinum-chromium, nickel-titanium and polymer. Cobalt-chromium segment is expected to exhibit the highest growth over the forecast period, followed by platinum-chromium segment. Development of new stents owing to increasing investment in the healthcare sector along with high efficacy and safety of raw materials that increase lifespan of stents.

Market Segmentation by End User

On the basis of end user, the market has been segmented into hospitals, ambulatory surgical centres, and cardiac catheterization laboratories. Hospitals segment accounts for the highest revenue share in the India coronary stents market, followed by ambulatory surgical centres and cardiac catheterization laboratories segments, respectively. Increasing patient population seeking effective and efficient treatment at low cost is a key factor driving adoption of new medical devices and technologies in hospitals

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Key Players

Some key players in the global infusion pumps market identified in this report are Abbott Laboratories, Medtronic, Inc., Biosensors Inc., and Boston Scientific Inc. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats.

Future Market Insights (FMI) offers a 10-year forecast of the India coronary stents market between 2016 and 2026. In terms of value, the market is expected to register a CAGR of 14.0% over the forecast period. This study demonstrates market dynamics and trends that influence the current environment and future status of the coronary stents market in India over the forecast period.

Report Description

This Future Market Insights report examines India coronary stents market for the period 2016–2026. The primary objective of the report is to offer insights on various coronary stents market products such as Drug eluting stent (DES), Bare Metal Stent (BMS) and Bioresorbable Vascular Stent (BVS).

This report begins by defining various coronary stents market product types and top brands in the market. It is followed by an overview of market dynamics of the India coronary stents market, which includes FMI analysis of key trends, drivers, restraints and opportunities and key players. It also includes insights into product highlighting regional trends and reimbursement scenario. Impact analyses of key growth drivers and restraints based on the weighted average model have also been included in the report to better equip readers with meaningful insights on ongoing developments in the market.

Primary factors fuelling growth of the global coronary stents market include rapidly ageing population with coronary heart disease indication, strong healthcare consciousness and modified coronary stents. Other factors driving demand for coronary stents market are rising number of PCI procedures and easy access to reimbursement.

Coronary stents products based on advanced technology helps in reducing restenosis after angioplasty. On the contrary, factors such as high cost of stents and regional competition among local players in India are factors expected to hamper market growth in the country in the near future.

Based on product type, the market has been segmented into Drug Eluting Stent, Bare Metal Stent & Bioresorbable Vascular Stent. A detailed analysis has been provided for every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.

Based on raw material type, the market has been segmented into Cobalt Chromium, Stainless Steel, Platinum Chromium, Nickel Titanium and Polymer. A detailed analysis has been provided for every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.

Furthermore, on the basis of end users, hospitals segment is expected to witness significant demand for coronary stents over the forecast period. This trend is expected to be particularly prominent in India, which are increasing access to healthcare services. However, Cardiac Catheterization Laboratories segment is expected to exhibit the highest growth over the forecast period.

The above sections—by product type, raw material and end users—evaluate the present scenario and growth prospects of the India coronary stents market for 2016–2026. We have considered 2015 as the base year and provided data for the forecast period.

In addition, it is imperative to note that in an ever-fluctuating developing economy, we not only conduct forecasts in terms of CAGR, but also provide analysis based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market and to identify the right opportunities across the coronary stents market.

The coronary stents market in terms of product, raw material and end users are analyzed in terms of Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the coronary stents market.

Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the coronary stents market. 

In the final section of the report, competitive landscape of the coronary stents market is included to provide report audiences with a dashboard view, based on categories of providers in the value chain, their respective product portfolios and key differentiators. Key categories of providers covered in the report are coronary stents companies. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the coronary stents market value chain and potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and successes in the coronary stents market.

Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, SWOT analysis and recent developments in the coronary stents market. Key manufacturers included in the report are Abbott Laboratories, Medtronic, Inc., Biosensors International Group Ltd. And Boston Scientific Inc.

Key Segments

  • Product Type
    • Drug Eluting Stent
    • Bare Metal Stent
    • Bioresorbable Vascular Stent
  • Raw Material Type
    • Cobalt Chromium
    • Stainless Steel
    • Platinum Chromium
    • Polymer
  • End User
    •   Hospitals
    • Ambulatory Surgical Centres
    • Cardiac Catheterization Laboratories

Key Companies

  • Abbott Laboratories
  • Medtronic, Inc.
  • Biosensors International Group Ltd.
  • Boston Scientific Inc.

India Coronary Stent Market Reports - Table of Contents

1. Research Methodology

2. Assumptions & Acronyms

3. Executive Summary

4. Coronary Stents Market Overview

4.1. Definition

4.2. Taxonomy

4.3. Parent Market Overview Comparative Analysis

4.4. Market Scenario-Conservative, Likely and Optimistic Outlook

4.4.1. Likely Scenario Factor Analysis

4.5. Value Chain Analysis

4.6. India Coronary Stents Market Overview (US$ Mn), 2015-2026

5. What Makes Coronary stents Market Attractive

6. Market Dynamics

6.1. Macro-Economic Drivers

6.2. Market Opportunity

6.3. Demand Side Drivers

6.4. Supply Side Drivers

6.5. Restraints

6.6. Trends

7. Coronary Stents Market, By Product Type

7.1. Introduction

7.1.1. Y-o-Y Growth Comparison, By Product 

7.1.2. Market Share & Basis Point (BPS) Analysis, By Product 

7.2. Market Forecast, By Product 

7.2.1. Drug Eluting Stent (DES)

7.2.1.1.  Absolute $ Opportunity

7.2.1.2.  Market Value Forecast

7.2.2. Bare Metal Stent (BMS)

7.2.2.1.  Absolute $ Opportunity

7.2.2.2.  Market Value Forecast

7.2.3. Bioresorbable Vascular Stent (BVS)

7.2.3.1.  Absolute $ Opportunity

7.2.3.2.  Market Value Forecast

7.3. Market Attractiveness Analysis, By Product 

7.4. Coronary Stents Market Prominent Trends, By Product 

8. Coronary Stents Market Analysis, By Raw Material

8.1. Introduction

8.1.1. Y-o-Y Growth Comparison, By Material 

8.1.2. Market Share & Basis Point (BPS) Analysis, By Material 

8.2. Market Forecast, By Material 

8.2.1. Metal

8.2.1.1.  Cobalt Chromium

8.2.1.1.1.   Absolute $ Opportunity

8.2.1.1.2.   Market Value Forecast

8.2.1.2.  Stainless Steel

8.2.1.2.1.   Absolute $ Opportunity

8.2.1.2.2.   Market Value Forecast

8.2.1.3.  Platinium Chromium

8.2.1.3.1.   Absolute $ Opportunity

8.2.1.3.2.   Market Value Forecast

8.2.1.4.  Nickel Titanium

8.2.1.4.1.   Absolute $ Opportunity

8.2.1.4.2.   Market Value Forecast

8.2.2. Polymer

8.2.2.1.  Absolute $ Opportunity

8.2.2.2.  Market Value Forecast

8.3. Market Attractiveness Analysis, By Material 

8.4. Coronary Stents Market Prominent Trends, By Material

9. Coronary Stents Market Analysis, By End User

9.1. Introduction

9.1.1. Y-o-Y Growth Comparison, By End User 

9.1.2. Market Share & Basis Point (BPS) Analysis, By End User 

9.2. Market Forecast, By End User 

9.2.1. Hospitals

9.2.1.1.  Absolute $ Opportunity

9.2.1.2.  Market Value Forecast

9.2.2. Ambulatory Surgical Centers

9.2.2.1.  Absolute $ Opportunity

9.2.2.2.  Market Value Forecast

9.2.3. Cardiac Catheterization Laboratories

9.2.3.1.  Absolute $ Opportunity

9.2.3.2.  Market Value Forecast

9.3. Market Attractiveness Analysis, By End User 

9.4. Coronary Stents Market Prominent Trends, By End User 

10.   Competition Landscape

10.1.Competition Dashboard

10.2.Company Profiles

10.2.1. Revenue

10.2.2. Products/Brand Offerings

10.2.3. Key developments

10.2.4. SWOT Analysis

10.2.5. Company Highlights

10.2.5.1.  Abbott Vascular

10.2.5.2.  Medtronic, Inc.

10.2.5.3.  Biosensors Inc.

10.2.5.4.  Boston Scientific Inc.

India Coronary Stent Market Reports - List of Tables

Table 01: India Coronary Stents Market Value Forecast, By Product Type, 2016–2026 (US$ Mn)

Table 02: India Coronary Stents Market Value Forecast, By Raw Material, 2016–2026 (US$ Mn)

Table 03: India Coronary Stents Value Forecast, By End User, 2016–2026 (US$ Mn)

India Coronary Stent Market Reports - List of Figures

Figure 01: Coronary Stents Market Snapshot (2016)

Figure 02: India Coronary Stents Market Value USD $ Mn, 2016–2026

Figure 03: India Coronary Stents Market Value USD $ Mn, 2016–2026

Figure 04: Indication for PCI

Figure 05: India GDP Vs. Healthcare Expenditure Prevalence

Figure 06: India Geriatrics Population Proportion

Figure 07: Coronary Stents Market Share Analysis, by Product Type (%), 2016–2026

Figure 08: India Coronary Stents Market Y-o-Y Growth (%), by Product, 2016–2026

Figure 09: India Coronary Stents Market Attractiveness Index, by Product, 2016–2026

Figure 10: India Coronary Stents Market (Mn) & Y-o-Y Growth (%) By DES, 2016–2026

Figure 11: India Coronary Stents Market Absolute $ Opportunity, by DES Segment, 2016 – 2026 (US$ Mn)

Figure 12: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by BMS Segment, 2016–2026

Figure 13: India Coronary Stents Market Absolute $ Opportunity, by BMS Segment, 2016 – 2026 (US$ Mn)

Figure 14: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by BVS Segment, 2016–2026

Figure 15: India Coronary Stents Market Absolute $ Opportunity, by BVS Segment, 2016 – 2026 (US$ Mn)

Figure 16: India Coronary Stents Market Share Analysis, by Raw Material (%), 2016 & 2026

Figure 17: India Coronary Stents Market Y-o-Y Growth (%), by Raw Material, 2016–2026

Figure 18: India Coronary Stents Market Attractiveness Index, by Raw Material, 2016–2026

Figure 19: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Cobalt Chromium Segment, 2016–2026

Figure 20: India Coronary Stents Market Absolute $ Opportunity, by Cobalt Chromium Segment, 2016–2026 (US$ Mn)

Figure 21: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Stainless Steel Segment, 2016–2026

Figure 22: India Coronary Stents Market Absolute $ Opportunity, by Stainless Steel Segment, 2016–2026 (US$ Mn)

Figure 23: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Platinum Chromium Segment, 2016–2026

Figure 24: India Coronary Stents Market Absolute $ Opportunity, by Platinum Chromium Segment, 2016–2026 (US$ Mn)

Figure 25: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Nickel Titanium Segment, 2016–2026

Figure 26: India Coronary Stents Market Absolute $ Opportunity, by Nickel Titanium Segment, 2016–2026 (US$ Mn)

Figure 27: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Polymer Segment, 2016–2026

Figure 28: India Coronary Stents Market Absolute $ Opportunity, by Polymer Segment, 2016–2026 (US$ Mn)

Figure 29: India Coronary Stents Market Share Analysis, by End User (%), 2016 & 2026

Figure 30: India Coronary Stents Market Y-o-Y Growth (%), by End User, 2016–2026

Figure 31: India Coronary Stents Market Attractiveness Index, by End User, 2016–2026

Figure 32: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Hospitals, 2016–2026

Figure 33: India Coronary Stents Market Absolute $ Opportunity, by Hospitals Segment, 2016–2026 (US$ Mn)

Figure 34: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Ambulatory Surgical Centers Segment, 2016–2026

Figure 35: India Coronary Stents Market Absolute $ Opportunity, by Ambulatory Surgical Centers Segment, 2016–2026 (US$ Mn)

Figure 36: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Cardiac Catheterization Laboratories Segment, 2016–2026

Figure 37: India Coronary Stents Market Value (US$ Mn) and Y-o-Y Growth (%), by Cardiac Catheterization Laboratories Segment, 2016–2026

Figure 38: Competitive Positioning Analysis

Figure 39: Company Market Value Share (%), 2016