Kenya Coronary Stents Market Analysis

Kenya Coronary Stents Market Analysis


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Kenya's Coronary Stents Market is expected to witness growth from $8 Mn in 2022 to $12 Mn in 2030 with a CAGR of 5.85% for the forecasted year 2022-30. In Kenya, both the incidence and prevalence of coronary artery disease are rising. Since CAD is one of the main conditions requested for the implantation of coronary stents, this is a significant market growth driver for manufacturers of coronary stents. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Apicalmed, Asterisk, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare, and Philips Healthcare.

ID: IN10KEMD006 CATEGORY: Medical Devices GEOGRAPHY: Kenya AUTHOR: Jigyasu Bhandari

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Kenya Coronary Stents Healthcare Market Executive Analysis

Kenya's Coronary Stents Market is expected to witness growth from $8 Mn in 2022 to $12 Mn in 2030 with a CAGR of 5.85% for the forecasted year 2022-30.. Kenya's total GDP for healthcare in 2022 was 6.59%. This is a huge increase from 2020 when the spending made up 5.68% of the GDP. The Kenyan government has been working to increase healthcare spending recently. In the budget for 2022-2023, the government boosted its financing for the health sector by roughly $93.65 million from the previous fiscal year.

In Kenya in 2022, ischemic heart disease—which includes coronary artery disease—was the second most common cause of death, accounting for 9.1% of all fatalities. Patients with coronary artery disease, a condition where the coronary arteries that carry blood to the heart become narrowed or obstructed, are treated with coronary stents. Patients with CAD are treated with coronary stents, which improve blood flow to the heart muscle. To keep the blocked or narrowed artery open and allow blood to freely flow into the heart muscle, a stent is inserted into the artery. By lowering the possibility of a blood clot forming in the constricted or blocked artery, coronary stents can help avoid heart attacks. The stent lowers the possibility of a heart attack brought on by a blood clot by keeping the artery open. A small incision can be used to undertake the minimally invasive surgery of placing a coronary stent. Accordingly, patients recover more quickly and with less pain than they would with open-heart surgery as a whole.

Kenya Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In Kenya, both the incidence and prevalence of coronary artery disease are rising. Since CAD is one of the main conditions requested for the implantation of coronary stents, this is a significant market growth driver for manufacturers of coronary stents. Another factor driving market expansion for manufacturers of coronary stents is the expanding geriatric population in Kenya. The elderly are a crucial demographic for the implantation of coronary stents because they are more susceptible to CAD and other heart-related disorders. Kenya's healthcare system is expanding as a result of increased funding for hospitals and clinics. As the availability and accessibility of coronary stent insertion techniques expand, this is a significant market growth driver for makers of coronary stents.

Market Restraints

Kenya's inadequate insurance coverage for coronary a stent could be a significant market barrier for producers. Patients might not be able to pay the expense of the operation without insurance, which would restrain market expansion. For CAD, various therapies like medication and way-of-life modifications are available. The availability of these substitute choices could restrain the market expansion for coronary stents in Kenya since patients may choose to choose these less expensive alternatives.

Competitive Landscape

Key Players

  • Apicalmed (KE)
  • Asterisk (KE)
  • Biotronik
  • Boston Scientific
  • B. Braun
  • Abbott Laboratories
  • GE Healthcare
  • Medtronic
  • Philipps Healthcare

Healthcare Policies and Regulatory Landscape

Coronary stents must be registered with the Pharmacy and Poisons Board (PPB) in order to be sold and promoted in Kenya. Manufacturers must submit a dossier of technical and clinical data, including evidence of efficacy and safety, to support their registration application. Coronary stent manufacturers in Kenya are required to adhere to the PPB's good manufacturing practices (GMP) for medical device regulations. The GMP guidelines set standards for medical device design, production, and quality control in order to guarantee their safety and effectiveness. Once coronary stents are on the market, manufacturers are required to monitor their performance and notify the PPB of any adverse events or quality problems. Before promoting and selling their products in Kenya, manufacturers must have approval from the PPB. For the safety and effectiveness of the coronary stents to be supported, technical and clinical evidence must be submitted.

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 cKenyaity 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

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.​

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

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.

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Last updated on: 14 December 2023
Updated by: Dhruv Joshi

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