Malaysia Coronary Stents Marke Report 2022 to 2030

Malaysia Coronary Stents Market Analysis

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Malaysia's Coronary Stents Market is expected to witness growth from $18 Mn in 2022 to $27 Mn in 2030 with a CAGR of 4.95% for the forecasted year 2022-30. The introduction of coronary stents as a treatment option for CAD is being driven by a rising desire for minimally invasive procedures in Malaysia because these procedures are less invasive and have quicker recovery times than conventional surgical procedures. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Qualitas Medical Group, GA2 Medical, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare, and Philips Healthcare.

ID: IN10MYMD006 CATEGORY: Medical Devices GEOGRAPHY: Malaysia AUTHOR: Jigyasu Bhandari

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Malaysia Coronary Stents Healthcare Market Executive Analysis

Malaysia's Coronary Stents Market is expected to witness growth from $18 Mn in 2022 to $27 Mn in 2030 with a CAGR of 4.95% for the forecasted year 2022-30. In 2023, Malaysia anticipates spending $16 billion on healthcare, a 7.1% increase from 2019. They forecast that over the next five years, healthcare costs will increase by 7.6%, reaching $22.6 billion by 2027. By 2045, 14% of the population of Malaysia, one of the longest countries in the world, is expected to be 65 or older.

In Malaysia, the incidence rate of CAD was 17.8 per 1,000 person-years in 2021, up from the country's 2020 prevalence rate of 13.4%. Coronary stents are tiny, plastic, or metal expandable tubes used to unblock blocked or restricted arteries and improve blood flow to the heart in the treatment of coronary artery disease. Coronary stents are frequently used in Malaysia to treat CAD, and they provide some advantages and uses for those who have this ailment. Coronary stents are devices used to open up restricted or blocked coronary arteries, restoring blood flow to the heart muscle, and lowering the risk of heart attack. Coronary stents can assist in reducing CAD symptoms like chest pain or discomfort by enhancing blood flow to the heart. There are numerous kinds of coronary stents available in Malaysia, including bare-metal, drug-eluting, and bioresorbable stents, each of which has unique advantages and uses for CAD patients. In comparison to more invasive surgical treatments, coronary stent procedures often include a smaller incision and a quicker recovery period.

Malaysia Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

The introduction of coronary stents as a treatment option for CAD is being driven by a rising desire for minimally invasive procedures in Malaysia because these procedures are less invasive and have quicker recovery times than conventional surgical procedures. The demand for coronary stents is anticipated to increase as more people are able to afford these operations as a result of Malaysia's recent increase in healthcare spending. For manufacturers of coronary stents, the high prevalence of coronary artery disease in Malaysia is a key market growth driver because there is expected to be an increase in demand for these devices as the incidence of this ailment rises.

Market Restraints

In Malaysia, there are a number of alternative treatment options for coronary artery disease, including medication and lifestyle modifications, which may reduce the need for coronary stents in some individuals. As many patients might not be able to afford these operations, especially if they are not covered by insurance, the cost of coronary stent procedures can be a significant obstacle to adoption. It can be difficult and complicated for manufacturers to advertise their goods and create demand among patients and physicians in Malaysia due to the reimbursement environment for medical devices.

Competitive Landscape

Key Players

Qualitas Medical Group (MY)
GA2 Medical (MY)
Transmedia Healthcare (MY)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Recent Notable Deals

August 2022: OrbusNeich announced in August 2022 that it had contracted with Qualitas Medical Group for the exclusive sale of its coronary stent products in Malaysia. The expansion of OrbusNeich's footprint in Malaysia and increased accessibility of its cutting-edge products are anticipated benefits of this partnership.

Healthcare Policies and Regulatory Landscape

The Ministry of Health Malaysia (MOH) and the Medical Device Authority (MDA), are in charge of the regulatory framework and healthcare policies in Malaysia's coronary stents sector. While the MDA is in charge of overseeing medical device regulation in Malaysia, including that of coronary stents, the MOH is in charge of developing and implementing policies relating to healthcare services. In order to ensure their quality, safety, and efficacy, medical devices, such as coronary stents, are governed under the Medical Device Act (MDA) in Malaysia. Before being able to be sold in Malaysia, all medical devices must be registered with the MDA. The Medical Device Authority (MDA) is in charge of upholding the MDA and making sure that medical devices adhere to legal specifications. Additionally, it is in charge of managing the licencing and registration of Malaysian distributors and manufacturers of medical devices. In order to guarantee that medical devices, including coronary stents, are transported, stored, and handled correctly to maintain their quality and safety, the MOH has established Good Distribution Practise (GDP) guidelines.

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 cMalaysiaity 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.
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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.