Turkey Coronary Stents Market Analysis

Turkey Coronary Stents Market Analysis

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Turkey's Coronary Stents Market is expected to witness growth from $90 Mn in 2022 to $136 Mn in 2030 with a CAGR of 5.25% for the forecasted year 2022-30. The demand for coronary stents is anticipated to rise in Turkey as patients and healthcare professionals become more aware of the advantages of coronary stents. Manufacturers who invest in educational programs to spread the word about the advantages of coronary stents may be able to enhance their market share. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Ersamed Medikal, Acibadem Labmed, Megasan Medikal, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.

ID: IN10TRMD006 CATEGORY: Medical Devices GEOGRAPHY: Turkey AUTHOR: Jigyasu Bhandari

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Turkey Coronary Stents Healthcare Market Executive Analysis

Turkey's Coronary Stents Market is expected to witness growth from $90 Mn in 2022 to $136 Mn in 2030 with a CAGR of 5.25% for the forecasted year 2022-30.  Turkish healthcare expenditures totaled $13.7 billion in 2020, a 24.3% increase over 2019. The total amount spent on health increased by 26.3% to $10.48 billion. Spending on healthcare in the private sector was anticipated to reach $2.70 billion, an increase of 17.3%. In contrast to the private sector, which accounted for 20.8% of health expenditures in 2020, the federal government accounted for 79.2% of them.

In Turkey, 196,988 people passed away from heart disease in 2022, making up 19.1% of all fatalities there. Coronary artery disease was present in 6.4% of the overall population. Men (8.1%) had a larger prevalence than women (4.7%).  In Turkey, there were 13.8 cases of acute coronary syndrome per 10,000 persons each year, which includes unstable angina and heart attacks. Coronary stents are tiny mesh tubes that are inserted inside constricting or obstructed coronary arteries to maintain their openness and enhance blood flow to the heart muscle. In Turkey, coronary stent usage is a frequent surgery and has revolutionized the way coronary artery disease is treated. By widening or unblocking restricted arteries, coronary stents are generally used to treat coronary artery disease and restore blood flow to the heart muscle. Coronary stents can frequently be used as a substitute for open heart surgery, which can be more invasive and necessitate a longer recovery period. Re-narrowing of the treated artery, or restenosis, is a frequent issue following angioplasty without a stent. Through the provision of a scaffold to keep the artery open, coronary stents assist in lowering the risk of restenosis.

Turkey Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

The demand for coronary stents is anticipated to rise in Turkey as patients and healthcare professionals become more aware of the advantages of coronary stents. Manufacturers who make an investment in educational programmes to spread the word about the advantages of coronary stents may be able to enhance their market share. Turkey's ageing population, poor diets, and sedentary lifestyles are all contributing to an increase in the prevalence of coronary heart disease. The demand for coronary stents as a therapeutic option is anticipated to increase as a result, providing potential prospects for manufacturers. The coronary stent market is anticipated to rise as a result of advancements in stent technology, including the creation of drug-eluting stents, bioresorbable stents, and other novel designs. Manufacturers who spend money on research and development to create cutting-edge stent technology will be in a good position to profit from this expansion.

Market Restraints

In Turkey, coronary stents are typically safe and effective, complications and negative outcomes like stent thrombosis, restenosis, and bleeding can still happen. The demand for coronary stents may decline as a result of these issues. The market for coronary stents in Turkey is quite competitive, with many well-known companies vying for market share. It could be challenging for new manufacturers to compete with established companies, which might have an influence on growth. Coronary stents must adhere to strict regulatory standards set by the Turkish government. Before their products may be advertised and sold, manufacturers must adhere to tight laws and receive regulatory authority. This can be a time-consuming and expensive process, which might prevent certain enterprises from expanding.

Competitive Landscape

Key Players

  • Ersamed Medikal (TR)
  • Acibadem Labmed (TR)
  • Megasan Medikal (TR)
  • Biotronik
  • Boston Scientific
  • B. Braun
  • Abbott Laboratories
  • GE Healthcare
  • Medtronic
  • Philipps Healthcare

Healthcare Policies and Regulatory Landscape

Turkish Ministry of Health (MoH) rules regarding coronary stents. A regulatory framework that has been established by the MoH includes pre-market evaluation, product registration, and post-market monitoring. Before their goods can be advertised and sold in Turkey, producers must abide by certain rules. Through the General Health Insurance system, the Turkish government pays for a number of medical procedures, including coronary stent procedures. The type of stent and the patient's condition, however, may affect reimbursement regulations. To make sure that their products are covered, manufacturers must be aware of reimbursement guidelines and coordinate with healthcare professionals. The National Health Transformation Programme (NHTP) is a thorough healthcare reform initiative with the goal of raising the standard of medical care in Turkey. The programme comprises activities to advance preventive care, broaden access to healthcare services, and enhance healthcare infrastructure. Manufacturers who match the objectives of their products with the NHTP may be in a good position to benefit from expansion opportunities.

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 Overview Product Applications and Services Recent Developments Partnerships Ecosystem 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 cTurkeyity 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

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Last updated on: 12 February 2024
Updated by: Ritu Baliya

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