The medical device market is a thriving segment of the healthcare industry in India. Rise in the number of hospitals and increasing requirement of healthcare facilities on account of the changing demographics and increasing lifestyle diseases is creating a need for sophisticated devices and equipments which can provide accurate treatment to individuals. The global market for medical devices is also growing rapidly and India has joined the bandwagon of being one of the fastest growing countries in this respect. In such an industry, the market for coronary stents is also showing considerable potential. Although the market is mostly dominated by multinationals at present, a few Indian companies have also been able to successfully enter the market. The growing target base of consumers is expected to boost sales and the market is expected to exhibit steady growth in future.
The report begins with an introduction of coronary stents and their classification based on the material they are made of and whether they are coated with any drug. The market overview section provides the market size and growth, both value-wise and volume-wise for the overall market. Market size and growth, both value-wise and volume-wise, for the individual segments have also been provided.
This is followed by an analysis of the drivers fueling growth in the market which includes increasing lifestyle diseases, improving health infrastructure, changing demographics, increasing healthcare spending and insurance coverage, and advancements in technology and medical procedures. The key challenges identified include the problems associated with usage and constant need for innovation and new product development. The involvement of government in this industry is also included. It discusses the role of the government in regulating the industry and its implications. The plans of the government to regulate price of stents and the steps taken regarding this have also been included in this section.
The competition section provides an overview of the competitive landscape in the industry and includes a detailed profile of the major players in the market. It includes the list of products and services, key people, financial snapshot, key ratios and key recent developments for the major players. For public companies, their key business segments and key geographic segments have also been provided.
A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability.