India’s coronary drug-eluting stents mkt to register 4% CAGR by 2033: Report
New Delhi, Jan 23 (IANS) The coronary drug-eluting stents market in India is set to grow at a compound annual growth rate of 4 per cent between 2023 and 2033, according to a report on Tuesday.
This is driven by the growing incidence of coronary artery diseases, improved access to the latest treatment options, higher diagnosis rates, and technological advancements in the country.
Already known as the heart disease capital of the world, India is seeing a growing incidence of cardiovascular diseases, especially among young adults, owing to a poor lifestyle.
The report by GlobalData, a data and analytics company, showed that India’s coronary drug-eluting stent market accounted for approximately 25 per cent of the Asia-Pacific (APAC) market in 2023.
“Heart diseases in India are growing rapidly, and if this trend persists, the nation could soon record the highest number of deaths from heart diseases. To address this challenge, advances in treatment methods, such as improvements in imaging equipment, stent design, and implantation techniques, are needed,” said Kanchan Chauhan, Medical Devices Analyst at GlobalData, in a statement.
In December 2023, Terumo, a Japanese company, launched Ultimaster Nagomi stent in India, which distinguishes itself by featuring a bioresorbable polymer coating that gradually dissolves after facilitating effective drug delivery, consequently preventing restenosis.
In contrast to traditional drug-eluting stents that use durable polymers, which may cause long-term complications such as chronic inflammation, Terumo’s approach minimises the risk of inflammatory responses, improving overall patient safety.
“India is making rapid progress with regards to cardiovascular treatment. With high class hospitals, the availability of cost-effective treatment options, and skilled cardiologists, the nation is already a favourite destination for medical tourism. With efforts being made to continuously develop and deploy advanced cardiology treatment, India is poised to become a global hub for top-notch cardiology treatment,” Chauhan said.