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Key Factors Driving the Growth of the India Coronary Stents Market

 

India Coronary Stents Market

The India coronary stents market has witnessed significant growth in recent years, driven by several key factors.

Rise in Prevalence of Cardiovascular Diseases: One of the key factors fueling the growth of the India coronary stents market is the alarming rise in the prevalence of cardiovascular diseases. India has witnessed a surge in the number of people suffering from coronary artery diseases, primarily due to changing lifestyles, sedentary habits, and an increase in risk factors such as smoking, diabetes, and hypertension. This growing patient pool has necessitated the use of coronary stents as an effective treatment option.

Advancements in Medical Technology: Another crucial driver of the India coronary stents market is the continuous advancements in medical technology. The development of innovative coronary stents with enhanced safety and efficacy profiles has played a pivotal role in the market's growth. Advanced technologies, such as drug-eluting stents and bioresorbable stents, have significantly improved patient outcomes and reduced the need for repeat procedures. These advancements have increased the acceptance and adoption of coronary stents among healthcare professionals and patients alike.

According to Coherent Market Insights, India Coronary Stents Market is estimated to be valued at US$  1,303.5 million in 2023 and is expected to exhibit a CAGR of 13.2 % during the forecast period (2023-2030).

Government Initiatives and Healthcare Reforms: Government initiatives and healthcare reforms have also been instrumental in driving the growth of the India coronary stents market. The Indian government has taken several steps to improve healthcare infrastructure, increase access to quality healthcare services, and reduce the cost of medical treatments. Initiatives such as the National Health Mission and Ayushman Bharat have provided a significant impetus to the adoption of coronary stents, ensuring that more patients have access to life-saving treatments.

Rapid Expansion of Healthcare Facilities: The rapid expansion of healthcare facilities across India has contributed to the growth of the coronary stents market. The establishment of specialized cardiac centers, clinics, and hospitals in both urban and rural areas has increased the availability of coronary interventions, including stent implantation. Improved access to healthcare facilities has resulted in timely diagnosis and treatment of coronary artery diseases, driving the demand for coronary stents.

Global Drug Device Combination Product Market is estimated to be valued at US$ 150.23 billion in 2023 and is expected to exhibit a CAGR of 7.6% during the forecast period (2023-2030).

Several key factors have driven the growth of the India coronary stents market. The rise in cardiovascular diseases, advancements in medical technology, government initiatives, and the expansion of healthcare facilities have collectively fueled the adoption of coronary stents. With ongoing advancements and a focus on patient-centric care, the market is expected to witness further growth in the coming years.

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