Kenneth Research has evaluated the current market opportunities in Coronary Stents Market in India in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Coronary Stents Market in India Products.
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According to the statistics by the World Bank, current health expenditure around the world increased from 9.391 % of GDP in the year 2011 to 9.896 % of GDP in the year 2017. Moreover, the statistics also stated that Tuvalu, a nation in Oceania region, had the highest expenditure of 17.143 % of GDP in the year 2017, followed by the United States, with 17.061 % of GDP.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Netscribes’ latest market research report titled Coronary Stents Market in India 2014 states that manufacturers of coronary stents are experiencing high demand for their products due to a number of reasons. With cardiovascular diseases becoming a common occurrence amongst Indians and the healthcare infrastructure in the country rapidly improving, the number of angioplasty procedures being carried out in the country has increased significantly. Advancements in technology has resulted in patients being more receptive towards stent implants. The products available in the market can be divided into two types – those manufactured by MNCs and commanding high prices, and those manufactured by domestic companies and generally having lower prices. The general perception is that stents manufactured by MNCs are superior in terms of quality and efficacy whereas those manufactured by domestic companies fail to attain similar high quality. As a result, the MNCs serve majority of the market with almost all the big hospitals in tier I cities preferring to implant stents manufactured by foreign companies.
Since the medical equipments and devices industry in India has not been given any separate legal status and coronary stents have been classified as drugs under the provisions of the Drugs & Cosmetics Act, 1940, the Central Drugs Standard Control Organization (CDSCO) is responsible for the regulation of stents in the country. The significant reduction in reimbursement rates for stents under the Central Government Health Scheme (CGHS) in Feb 2013 and a further reduction in the reimbursement rates in Apr 2014 has badly affected manufacturers, especially the MNCs. Although majority of the angioplasties performed in the country are done in private establishments with only a few being done under the CGHS, the reduction in the reimbursement rates is likely to force companies to lower price in the open market as well. However, despite a fall in price of products, the market is still expected to grow steadily. Moreover, the penetration of cath labs in the smaller cities and towns has made angioplasty more accessible to patients and is expected to boost demand for stents.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Coronary Stents Market in India by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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