Tanzania Coronary Stents Market Report 2022 to 2030

Tanzania Coronary Stents Market Analysis

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Tanzania's Coronary Stents Market is expected to witness growth from $5 Mn in 2022 to $7 Mn in 2030 with a CAGR of 5.65% for the forecasted year 2022-30. The Tanzanian government has been spending money to upgrade the nation's healthcare system, which includes building more hospitals and clinics. With increased access to medical institutions, especially those performing coronary stent treatments, this investment is likely to spur market expansion. The market is segmented by type, by mode of delivery, by materials and by end user. Some key players in this market include Zenufa Laboratories, Crown Healthcare, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare and Philips Healthcare.

ID: IN10TZMD006 CATEGORY: Medical Devices GEOGRAPHY: Tanzania AUTHOR: Jigyasu Bhandari

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Tanzania Coronary Stents Healthcare Market Executive Analysis

Tanzania's Coronary Stents Market is expected to witness growth from $5 Mn in 2022 to $7 Mn in 2030 with a CAGR of 5.65% for the forecasted year 2022-30. In Tanzania, the average cost of healthcare per year in 2022 amounted to $42.58. The United Republic of Tanzania saw an increase in health spending from $20 in 2015 to $41.69 in 2021 or an average yearly rate of 6.91%. The nominal budget for Tanzania's health sector in 2020 will be $0.94 billion, a 0.4% decrease from the $0.93 billion allocated in 2018. From 7.0% and 1.80%, respectively, the allocation has dropped to 6.7% of the total national budget and 1.5% of GDP.

6.3% of Tanzanians were found to have coronary artery disease. According to this, 16 out of every 100 Tanzanian adults are thought to have CAD. Men (8.5%) have CAD more frequently than women (4.1%). In Tanzania, coronary artery disease is treated with coronary stents. Coronary artery disease is characterised by a narrowing or obstruction of the blood channels that supply the heart with oxygen and nutrients. A coronary stent is a tiny metal mesh tube that is placed inside a blocked or restricted coronary artery to help keep it open and restore blood flow to the heart muscle. A stent can assist in restoring blood flow to the heart muscle and enhancing oxygen and nutrition delivery by maintaining the coronary artery open. A heart attack may result from a clogged coronary artery. A stent can aid in lowering the risk of a heart attack by restoring blood flow to the heart. A common sign of CAD is stable angina, which is characterised by chest pain or discomfort that worsens with exertion or under stress. By widening or unblocking blocked or restricted coronary arteries, coronary stents can be utilised to treat stable angina.

Tanzania Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

The Tanzanian government has been spending money to upgrade the nation's healthcare system, which includes building more hospitals and clinics. With increased access to medical institutions, especially those performing coronary stent treatments, this investment is likely to spur market expansion. Because of advantages like shorter hospital stays and quicker recovery times, minimally invasive procedures like angioplasty and stenting are becoming more and more popular among patients and doctors. Demand for coronary stents is anticipated to be driven by this trend going forward. Demand for coronary stents, which are frequently employed in the treatment of coronary artery disease, is being driven by Tanzania's increased incidence of heart disease. The prevalence of heart disease is projected to continue to climb as the population increases and lifestyles become more sedentary, which will increase demand for coronary stents.

Market Restraints

Tanzania's regulatory climate can be difficult for businesses, especially those in the medical device sector. For producers trying to enter the market, regulatory obstacles including product registration requirements and import limitations might be a barrier. There are alternatives to coronary stents, such as bypass surgery and drug therapy, even though they are frequently used to treat coronary artery disease. Demand for coronary stents may be constrained, and market expansion may be constrained, by competition from these alternative treatments. Many Tanzanian patients may not be able to afford the expense of coronary stents. Due to this, there may be a limited market for the devices and manufacturers may find it challenging to compete.

Competitive Landscape

Key Players

Zenufa Laboratories (TZA)
Crown Healthcare (TZA)
Biotronik
Boston Scientific
B. Braun
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare

Healthcare Policies and Regulatory Landscape

The regulatory body in charge of monitoring the security and effectiveness of medical devices in Tanzania, including coronary stents, is known as the Tanzania Food and Drugs Authority (TFDA). Manufacturers are required to register their goods with the TFDA and make sure that they abide by regional laws. In Tanzania, the market for coronary stents is regulated by the Ministry of Health, Community Development, Gender, Elderly, and Children (MoHCDGEC). The MoHCDGEC creates policies and rules for the nation's healthcare system, including rules for coronary stent use and procedures involving the heart. The government also specifies specifications for healthcare facilities, such as the equipment required to carry out high-quality cardiac surgery.

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 cTanzaniaity 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.