Global Coronary Stents Market is Expected to be Worth $8,985.6 Million in 2020, with a 7.7% CAGR During The Forecast Period (2020-2027)

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Coronary Stents
Coronary Stents

Insights into the India Coronary Stents Market

Coronary stents are small interventional devices that are used to open blocked arteries. These stents are also used to keep the arteries from narrowing again. Percutaneous Transluminal Coronary Angioplasty is the procedure used to reduce blockages (PTCA).

Drivers in the India Coronary Stents Market

The rising prevalence of coronary heart disease is a major factor driving growth in the India Coronary Stents Market during the forecast period. 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 diseases killed over 2.1 million people in India in 2015.

Furthermore, the year saw 0.9 million deaths from coronary heart disease and 0.4 million deaths from stroke. Furthermore, the market is expected to grow due to the widespread use of stents in the treatment of cardiovascular blockages. In comparison to more invasive bypass surgeries, stent implantation is highly preferred.

Restriction in the Indian Coronary Stents Market

Lack of centers offering PCI and primary PCI procedures, particularly in tier II and tier III cities, and limited access to healthcare facilities in rural India are expected to Coronary Stents Market Growth. Furthermore, ischemic adverse events associated with coronary stentings, such as ischemia-driven target lesion revascularization and stent thrombosis, are expected to impede the market growth.

Trends in the Market/Key Takeaways

PCI is becoming more popular in the market. For example, according to a report published in April 2019 by National Intervention Council, India, and Apollo Health City, India, a total of 3,87,416 PCI procedures were performed in 705 centres in India in 2017, representing a 3.7 percent increase over 2016. Prices for coronary stents have dropped significantly in India as a result of the Government of India capping the sale price of coronary stents in February 2017. Prices for Coronary Stents Market were reduced by 80% in the market. However, in April 2019, the National Pharmaceutical Pricing Authority (NPPA) approved a 4.2 percent increase in the price of cardiac stents in line with the 2018 wholesale price index (WPI).

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