India Coronary Stent Market Would Continue to Grow in Double Digits and Abbott
Vascular (NYSE:ABT) to Lead the Market
LONDON and NEW YORK, July 1, 2014
LONDON and NEW YORK, July 1, 2014 /PRNewswire/ --
The coronary stent market in India was valued around $450 million in 2012 and
it has grown at an impressive rate of 22% (2005-2012) backed by a rise in PCIs
(Percutaneous Coronary Intervention) which is resulted from a surge in
cardiovascular disease (CVD), an improvement in healthcare infrastructure and
services and an increase in disposable income. An increasing penetration of
DES, which is above 90%, has also boosted the market.
The market is lead by Abbott Vascular (NYSE:ABT), followed by Boston
Scientific (NYSE:BSX). Other key players operating in the segment are
Medtronic, Inc. (NYSE:MDT), Biotronik, Sahajanand Medical Technologies, Meril
Life Sciences and Translumina Therapeutics. Johnson and Johnson's (NYSE:JNJ)
Cordis stopped selling its stents from 20011. Cordis's market was grabbed by
Abbott, Medtronic and other players. Bioabsorbable stent ABSORB, which was
recently launched by Abbott Vascular, has garnered a considerable traction
among the medical fraternity despite its high cost compared with other stents
available in the market. The patients opting for ABSORB are financially sound
or have either health insurance or are entitled for reimbursement. Abbott is
aggressively chasing the market through a direct-to-consumer approach (DTC).
The coronary stent market in the country will continue to grow at a faster
pace due to new and upcoming private hospitals, government initiatives to
improve healthcare access, an increasing number of interventional
cardiologists, an explosion of healthcare insurance and a growth in usage of
high value bioabsorbable stents. The anticipated progression can be attributed
to growth in elderly population, improved life expectancy, lifestyle diseases
and associated complications like diabetes, hypertension and obesity.
The majority of population in need of stents is not covered under health
insurance or do not get reimbursements which limits the market. However,
patients under the poverty line are sponsored for healthcare insurance through
the state government or insurance under public and private partnership. Some
state governments have put a cap on the pricing of stents; though it may limit
the market in terms of value but may help increase penetration of stents. Some
state governments have put a cap on the value of stents; though this may help
increase penetration of stents, it may limit the market in terms of value.
Meanwhile, the market is crowded with local players. Also, Europe-based
mid-sized companies sell stents at almost half the price of international
brands. It makes the market more competitive for MNCs. Further, the reduction
in the reimbursement rates under the Central Government Health Scheme (CGHS)
is likely to force companies to lower prices in the market.
However, the main restraints to market growth are high device and procedure
costs and a lack of skilled interventional cardiologists. Hospitals and
distributors in the supply chain make a killing as the device is mostly used
in patients for emergency treatment.
The recently published strategic market report by ABMRG, " India coronary
stent market-potential and growth forecastto2019 " , analyzes the coronary
stent market in India. It reviews historical trends and forecasts (2005-2019)
the annualized trends for sales in terms of value and volume, market growth,
pricing (Average Selling Price or ASP), competitive landscape and market
share. It outlines coronary pipeline products and highlights findings of the
global clinical studies. It offers a cross-category comparison for the
historical and forecast period. It also provides global industry developments
for the last two years, including M&As, partnerships, clinical studies,
pipeline, product approvals and launches, recalls and litigations, market
dynamics and market drivers.
Reasons to buy:
- Formulate market and business strategies based on market trends, market
drivers, market restraints and challenges in the Indian coronary stent market.
- Frame competitive product launch and product strategies based on competitive
landscape in India and other countries.
- Design capital investment strategies based on forecast high potential
- Capitalize on opportunities in high-growth geographies and attractive
- Identify in-licensing and out-licensing opportunities, and recognize
potential business partners and M&A targets.
- Plan for raw material and inventory in advance.
- Prepare management and strategic presentations using the market data.
The 60 -page report consists of 20 data charts and 20 data tables.
Comprehensive TOC and more details on the report are available at
Other strategic market reports:
3 Catalysts To Catapult Global Coronary Stent Market To $13 Billion
Australia Interventional Cardiology Market Trends Forecast Through 2018
India Cardiovascular Monitoring Systems - Market Size, Growth Rates and
Japan Cardiovascular Devices Market - Trends, Forecast and Outlook To 2018
China Cardiac Catheters and Guidewires Market Outlook, 2005 - 2018
ABMRG (Ace Business and Market Research Group) is a research and consulting
firm focused on medical technology and pharmaceuticals. It offers
comprehensive research and analytical studies targeting company, country and
therapeutic sector, highlighting market dynamics, vital trends, business
strategies, clinical pipeline and technology advancements. Its cutting edge
reports empower companies to make smarter, effective and faster strategic
decisions for business growth.
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