- India’s coronary drug-eluting stent market is projected to account for approximately 32% of the total market share in Asia-Pacific by 2024.
- As domestic manufacturers continue to develop innovative solutions, India’s contribution to the global medical device market is expected to deepen.
NEW DELHI: The Indian coronary stent market is poised for significant growth, driven by an increasing prevalence of coronary artery disease (CAD) and a rising demand for advanced medical solutions.
According to a report by GlobalData, the market for coronary drug-eluting stents (DES) in India is expected to expand at a compound annual growth rate (CAGR) of 4 per cent from 2024 to 2033.
The anticipated growth underscores the urgent need for innovative treatment options as healthcare providers seek to improve patient outcomes in light of the growing burden of cardiovascular diseases.
In the broader context of the Asia-Pacific region, India’s coronary drug-eluting stent market is projected to account for approximately 32 per cent of the total market share by 2024.
The notable share not only reflects the country’s substantial patient population but also highlights the advancements being made in medical technologies within India.
A prime example of such innovation is the recent approval received by Sahajanand Medical Technologies (SMT) for its Supraflex Cruz stent by the Australian Therapeutic Goods Administration (TGA).
Playing a pivotal role
The approval facilitates SMT’s entry into a highly regulated international market, signaling India’s potential to play a pivotal role in the global medical device sector.
Medical Devices Analyst Kanchan Chauhan notes the ongoing challenges in treating complex vascular conditions, such as tortuous and calcified lesions, which remain prevalent in CAD cases. There is a pressing need for stents that feature enhanced flexibility and thinner struts to mitigate complications like restenosis and to promote quicker recovery times for patients.
The Supraflex Cruz stent, which combines sirolimus with a biodegradable polymer, exemplifies the advancements being made in this field — promoting faster vessel healing while minimising the risks commonly associated with stent placements.
The international success of devices like the Supraflex Cruz not only bolsters India’s reputation in cardiovascular innovation but also illustrates the growing foreign interest in the nation’s medical device industry. As domestic manufacturers continue to develop innovative solutions, India’s contribution to the global medical device market is expected to deepen.
