Medical Devices
Egypt Coronary Stents Market Analysis
Egypt's Coronary Stents Market is expected to witness growth from $32 Mn in 2022 to $51 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. Increased investment in infrastructure, energy, and industry has contributed to Egypt's recent rapid economic expansion. This expansion offers manufacturers the chance to build their companies and enter new markets. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include JK Medirise, EGMED, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.
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Egypt Coronary Stents Healthcare Market Executive Analysis
Egypt's Coronary Stents Market is expected to witness growth from $32 Mn in 2022 to $51 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. Only 5.2% of Egypt's overall budget, or 1.5% of GDP, was allocated to the health sector up to 2021. From 4.9% in 2019 to 4.2% in 2022, the budget's percentage of healthcare expenses declined, reaching its lowest level in the preceding five years. At 1.6% of GDP, government spending on health reached a record high. In Egypt, public health spending has climbed to 3% of GDP.
In Cairo, Egypt, 52.5% of patients having coronary angiography had coronary artery disease. Small, mesh-like devices called coronary stents are used to repair blockages in the coronary arteries, which can result in coronary artery disease. Coronary stents can increase blood flow to the heart by unblocking blocked arteries, which can lower the risk of heart attack and other CAD consequences. Chest discomfort and shortness of breath are two signs of CAD. Coronary stents can improve blood flow to the heart, which alleviates these symptoms. Coronary stents can improve blood flow and reduce symptoms, which can enhance the quality of life for CAD patients. Patients may experience a quicker recovery and return to normal activities because coronary stent treatments are less intrusive than open-heart surgery.
Market Dynamics
Market Growth Drivers
Increased investment in infrastructure, energy, and industry has contributed to Egypt's recent rapid economic expansion. This expansion offers manufacturers the chance to build their companies and enter new markets. Egypt is a desirable site for manufacturers aiming to increase their market share in Africa, the Middle East, and Europe due to its strategic location at the intersection of these regions. Oil and gas, minerals, and agricultural goods are just a few of Egypt's abundant natural resources. Utilising these resources allows manufacturers to cut production costs and gain access to raw materials. The "Made in Egypt" campaign, which seeks to promote Egyptian-made goods, is one of many initiatives the Egyptian government has launched to entice international investment and encourage local firms.
Market Restraints
In Egypt, coronary stents can be expensive, which may make them less accessible to patients. This puts manufacturers at a disadvantage because patients in the public healthcare system could not have access to the newest and most cutting-edge stents. Although bypass surgery and pharmaceutical therapy are other options for treating CAD, coronary stents are a useful first line of treatment. The expansion of the coronary stents market in Egypt may be constrained by competition from these alternatives. Egyptian reimbursement regulations for coronary stents may not fully cover the cost of the devices, posing financial difficulties for patients and medical professionals.
Competitive Landscape
Key Players
- JK Medirise (EG)
- EGMED (EG)
- Biotronik
- Boston Scientific
- B. Braun
- Abbott Laboratories
- GE Healthcare
- Medtronic
- Philipps Healthcare
Healthcare Policies and Regulatory Landscape
The Egyptian Drug Authority (EDA), which is in charge of regulating the production, importation, exportation, and distribution of medical devices, including coronary stents, is in charge of overseeing the healthcare policies and regulatory environment in Egypt's market for coronary stents. The review and assessment of safety and efficacy data, clinical trial findings, and labelling information are all tasks that the EDA is in charge of managing during the approval process for medical devices. Before a medical device can be marketed in Egypt after receiving approval, it must be registered with the EDA. In addition to the EDA, the Ministry of Health and Population (MOHP) is in charge of policing the Egyptian healthcare industry, which includes distributors and makers of medical devices. The MOHP is in charge of regulating the import and distribution of medical devices as well as setting standards for healthcare organisations and personnel.
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 cEgyptity 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
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- Market Segmentation
- Market Share
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- Healthcare Policies & Regulatory Framework
- Reimbursement Scenario
- Factors Driving Future Growth
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