China Coronary Stents Market Report 2022 to 2030

China Coronary Stents Market Analysis

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China's Coronary Stents Market is expected to witness growth from $908 Mn in 2022 to $1475 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. In China, procedures involving coronary stents are completely minimally invasive, which means the patient has less pain and requires smaller incisions. The need for coronary stent surgeries has increased as a result in the country. The market is segmented by type, by mode of delivery, by materials and by end user. Some key players in this market include Lepu Medical Technology, MicroPort, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific and Philips Healthcare.

ID: IN10CNMD006 CATEGORY: Medical Devices GEOGRAPHY: China AUTHOR: Jigyasu Bhandari

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China Coronary Stents Healthcare Market Executive Analysis

China's Coronary Stents Market is expected to witness growth from $908 Mn in 2022 to $1475 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. In China, family planning and healthcare costs totaled $46.05 billion as of December 2022. In comparison to earlier projections of $28.02 billion for November 2022, this shows a rise. The numbers dropped to a brand-new low of $0.86 billion in January 2007 before rising to a peak of $46.05 billion in December 2022. China's health expenditures as a share of GDP in 2022 were 5.4%. With an average annual growth rate of 1.00%, China's health spending increased from 4.9% of GDP in 2012 to 5.4% of GDP in 2022.

About 20% of all deaths in China are caused by coronary artery disease, making it one of the main causes. In China, CAD resulted in 2.7 million fatalities in 2022. In China, coronary stents are frequently used to treat coronary artery disease, a condition in which the blood arteries that carry oxygen and nutrients to the heart narrow or become clogged as a result of the accumulation of fatty deposits. Coronary stents are used to widen or unblock narrowed or obstructed arteries and re-establish blood flow to the heart, which helps lessen symptoms like chest discomfort and breathlessness. A short hospital stay is typically not necessary for the minimally invasive surgery of placing a coronary stent, which can be done under local anesthesia. The recuperation period following coronary stent installation is often substantially shorter than that following open-heart surgery, which could take weeks or months. As a result, patients can resume their regular activities more rapidly.

China Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In China, procedures involving coronary stents are completely minimally invasive, which means the patient has less pain and require smaller incisions. The need for coronary stent surgeries has increased as a result in the country, and this is what is anticipated to fuel the market for coronary stents. A growing older population, a changing lifestyle, and an increase in risk factors including diabetes and hypertension are all contributing to the growth in the prevalence of cardiovascular diseases (CVDs) in China. Because they are a successful therapeutic option for CVDs, this is increasing demand for coronary stents. The design and features of coronary stents have substantially improved as a result of technological breakthroughs, increasing their effectiveness and efficiency. Manufacturers are making investments in R&D to release cutting-edge items on the market, which is anticipated to fuel market expansion.

Market Restraints

In China, the requirements for medical device regulation are getting stricter. To get permission for their products, manufacturers must satisfy a number of regulatory standards, which may be a time-consuming and expensive procedure. China's market for coronary stents is extremely competitive, with numerous domestic and foreign companies vying for market dominance. Price rivalry has resulted from this, which can reduce manufacturers' profit margins. Coronary stent treatments still lack a thorough payment scheme from the Chinese government, which may restrict patient access and slow the expansion of the market.

Competitive Landscape

Key Players

Lepu Medical Technology (CN)
MicroPort (CN)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

In China, coronary stents are among the medical devices that must be approved and registered by the China National Medical Products Administration (NMPA). Manufacturers must now submit more thorough clinical data to support the safety and efficacy of their medications, according to new rules that the NMPA put into place in 2020. To evaluate the clinical and financial worth of medical devices, including coronary stents, the Chinese government has put in place a health technology assessment system. Before a medical device is authorised for use, the HTA system tries to guarantee that it is secure, efficient, and affordable.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Coronary Stents Market Segmentation

By Type (Revenue, USD Billion):

The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cChinaity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.

Bare-metal Stents
Drug-eluting Stents
Bioabsorbable Stents

By Mode of Delivery (Revenue, USD Billion):

The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.

Balloon-expandable Stents
Self-expanding Stents

By Materials (Revenue, USD Billion):

The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.

Metallic Stents
Cobalt-Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Other Stents

By End User (Revenue, USD Billion):

The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.

Hospitals
Cardiac Centers
Ambulatory Surgical Centers

Methodology for Database Creation

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.