South Africa Coronary Stents Market Report 2022 to 2030

South Africa Coronary Stents Market Analysis

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South Africa's Coronary Stents Market is expected to grow from $73 Mn in 2022 to $117 Mn in 2030 with a CAGR of 5.98% for the forecasted year 2022-30. A greater percentage of the population in South Africa is over 60 years old, signaling an aging population. This group is more likely to have coronary artery disease, which is projected to boost demand for coronary stents. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include SSEM Mthembu Medical, NuAngle Medical, Tekmed, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare, and Philips Healthcare.

ID: IN10ZAMD006 CATEGORY: Medical Devices GEOGRAPHY: South Africa AUTHOR: Jigyasu Bhandari

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South Africa Coronary Stents Healthcare Market Executive Analysis

South Africa's Coronary Stents Market is expected to grow from $73 Mn in 2022 to $117 Mn in 2030 with a CAGR of 5.98% for the forecasted year 2022-30. In South Africa, healthcare costs were $621 per person in 2021. Between 2015 and 2021, South Africa's average annual decline in health spending per person was 1.28%.

In South Africa, the prevalence of coronary artery disease is 7.2%. Coronary stents are used in the treatment of coronary artery disease. The condition known as CAD, which is characterized by the accumulation of plaque in the coronary arteries, is treated with coronary stents. To keep the damaged artery open and increase blood flow to the heart muscle, stents are implanted in it. Procedures involving coronary stents are less invasive, with only a small incision and a brief hospital stay. As a result, stent treatments are safer and more practical for patients. Drug-eluting stents are an additional option to conventional bare-metal stents in South Africa. To help avoid restenosis or the re-narrowing of the artery, these stents have a pharmaceutical coating that releases the medication gradually over time. Advanced imaging techniques like intravascular ultrasonography and optical coherence tomography can aid medical professionals in seeing the artery more clearly and guiding the stent's insertion.

South Africa Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

A greater percentage of the population in South Africa is over 60 years old, signalling an ageing population. This group is more likely to have coronary artery disease, which is projected to boost demand for coronary stents. Newer and more sophisticated stent designs that are safer, more efficient, and less likely to cause issues have been created as a result of technological advancements. The demand for the newest stent technologies in the South African market is anticipated to increase as a result. In South Africa, healthcare access has improved recently, leading to an increase in the detection and treatment of coronary artery disease. Demand for coronary stents and related goods is anticipated to rise as a result of this. A number of healthcare policies have been put into place by the South African government with the goals of enhancing access to care and lessening the burden of non-communicable diseases including coronary heart disease. These regulations should result in higher market demand for coronary stents.

Market Restraints

In South Africa, there may be a shortage of knowledge regarding coronary artery disease and potential treatments, such as coronary stents, among the general people. This may reduce the demand for stents and other goods. Other forms of therapy for coronary artery disease include prescription drugs, dietary adjustments, and surgical procedures. Demand for coronary stents may be constrained by competition from alternative therapy options. Even though procedures involving coronary stents are typically safe, there is always a chance of complications like bleeding, infection, and restenosis. Demand for coronary stents and associated goods may be constrained by the potential for problems.

Competitive Landscape

Key Players

SSEM Mthembu Medical (SA)
NuAngle Medical (SA)
Tekmed (SA)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

In South Africa, the Medical Device Regulations were unveiled in February 2017. The laws control the nation's registration and distribution of medical equipment, including coronary stents. Manufacturers of medical devices must abide by these rules in order to promote and sell their goods in South Africa. Before being accepted for payment by medical aid systems, new medical technologies, such as coronary stents, are assessed using the Health Technology Assessment (HTA) procedure. New medical innovations' clinical and financial viability is assessed using the HTA method. The South African public healthcare system's preferred, most cost-effective, and safest medications and medical equipment are included on the Essential Medicines List (EML). Coronary stents are included in the EML, which means that the public healthcare system can use them.

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 cSouth Africaity 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.