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Forecast Period
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2024-2028
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|
Market Size (2022)
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USD126.07 million
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CAGR (2023-2028)
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5.33%
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Fastest Growing Segment
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Vascular Stent
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Largest Market
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Bali
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Market Overview
Indonesia Stent Market has
valued at USD 126.07 million in 2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.33% through 2028. a stent is a small,
flexible tube-like device that is used to support and open up a narrowed or
blocked blood vessel, duct, or hollow organ. Stents are often used in various
medical procedures to improve blood flow, relieve obstructions, and ensure the
proper functioning of the affected area. They are commonly employed in the
cardiovascular system, but they can also be used in other parts of the body. tents
are medical devices used in a variety of healthcare applications to treat and
manage various conditions that involve narrowed or blocked passages within the
body. Here are some of the common uses of stents such as Coronary Artery
Disease (CAD) Treatment, Peripheral Artery Disease (PAD) Treatment, Aneurysm
Repair, Biliary and Pancreatic Obstruction, Urological Disorders, Gastrointestinal
Conditions, Airway Obstruction, Dialysis Access, Esophageal Disorders, Tracheobronchial
Conditions, etc. Stents are widely used in the treatment of heart conditions,
specifically in the context of coronary artery disease (CAD). Coronary artery
disease occurs when the arteries that supply oxygen-rich blood to the heart
muscle become narrowed or blocked due to the buildup of plaque, which is a
combination of cholesterol, fat, and other substances. Stents play a crucial
role in restoring blood flow and alleviating the effects of coronary artery
disease.
The stents are useful for the heart for Restoring Blood
Flow. Stents are inserted into narrowed or blocked coronary arteries during a
procedure known as percutaneous coronary intervention (PCI) or angioplasty. The
stent acts as a scaffold, holding the artery open and preventing it from
collapsing. This restoration of blood flow helps ensure that the heart muscle
receives an adequate supply of oxygen and nutrients. Coronary artery disease
can lead to symptoms such as chest pain (angina) or shortness of breath,
especially during physical activity. By improving blood flow to the heart,
stents can alleviate these symptoms, allowing patients to engage in daily
activities with less discomfort. When a coronary artery becomes completely
blocked by a blood clot, it can lead to a heart attack. By keeping the artery
open and reducing the risk of abrupt closure, stents help minimize the chances
of a heart attack occurring.
Restenosis refers to the re-narrowing of a
previously treated artery after angioplasty. Many modern stents are designed
with drug-eluting capabilities. These drug-eluting stents release medications
that help inhibit the growth of cells within the artery, reducing the
likelihood of restenosis and the need for additional procedures. The use of
stents in conjunction with other medical therapies can improve the long-term
outcomes for individuals with coronary artery disease. Stents can help prevent
the progression of the disease and reduce the need for repeat procedures. Stent
placement is a minimally invasive procedure that often requires only a small
incision in the skin. This approach typically results in shorter hospital
stays, faster recovery times, and less pain compared to open-heart surgery. Stents
come in various sizes and designs to suit the specific characteristics of the
patient's arteries. This customization allows for precise placement and optimal
treatment outcomes. These reasons are projected to further drive the demand for
Indonesia Stent Market and subsequently foster the growth of the Indonesia Stent
Market.
Key Market Drivers
Growing Cardiovascular Disease Burden
The growing cardiovascular disease burden in Indonesia
has a significant impact on the growth of the stent market in the country.
Cardiovascular diseases (CVDs), particularly coronary artery disease (CAD), are
a major public health concern in Indonesia and many other countries. Here's how
the increasing burden of cardiovascular disease influences the growth of the
stent market in Indonesia. As the prevalence of cardiovascular diseases, such
as CAD, increases, there is a higher demand for medical interventions to
address these conditions. Stents play a crucial role in the treatment of CAD by
restoring blood flow to blocked or narrowed coronary arteries. The greater the
number of individuals with cardiovascular diseases, the greater the need for
stent procedures. The rising burden of cardiovascular diseases translates to an
increased number of individuals requiring medical interventions. This, in turn,
leads to a higher volume of stent placement procedures, contributing to the
growth of the stent market.
The growing cardiovascular disease burden has
spurred research and development efforts in stent technology. Manufacturers are
constantly working on improving stent designs, materials, and drug-eluting
capabilities to enhance their effectiveness and safety. The introduction of
advanced stent technologies to address the specific needs of patients with
complex cardiovascular conditions can drive market growth. Efforts to improve
healthcare infrastructure and access to medical services in Indonesia can lead
to earlier diagnosis and intervention for cardiovascular diseases. This means
that more patients are identified as candidates for stent procedures, contributing
to the expansion of the stent market.
Advancements in Medical Technology
Advancements in medical technology play a significant
role in influencing the growth of the stent market in Indonesia. As new
technologies and innovations emerge, they have a direct impact on the design,
efficacy, safety, and availability of stent products. Here's how advancements
in medical technology are influencing the growth of the stent market in
Indonesia. The technological advancements have led to the development of stents
with improved designs that offer better flexibility, radial strength, and
conformability to the blood vessels. These advancements enhance the
effectiveness of stent placement procedures and contribute to better patient
outcomes. Additionally, the drug-eluting stents release medications over time
to prevent the re-narrowing of the treated artery (restenosis) after stent
placement. The introduction of DES has significantly reduced the need for
repeat procedures and improved long-term results, driving the adoption of stent
procedures.
Bioabsorbable stents gradually dissolve over time, leaving behind a
natural vessel structure. These stents eliminate the need for a permanent
metallic implant and offer potential benefits in terms of reduced long-term
complications. Advances in nanotechnology have led to the development of
specialized coatings for stents. These coatings can improve biocompatibility,
reduce inflammation, and enhance drug delivery, resulting in better patient
outcomes and reduced complications. 3D printing technology allows for the
creation of patient-specific stents, tailored to the individual's anatomical
characteristics. This personalization can lead to more effective treatments and
improved patient experiences. Advancements in minimally invasive techniques, such as the
use of smaller catheters and better imaging technologies, have made stent
placement procedures less invasive and safer for patients. These techniques
contribute to shorter hospital stays, faster recovery times, and increased patient
satisfaction. These drivers are expected to bolster the growth of Indonesia
Stent Market.
Increasing Healthcare Expenditure
Increasing healthcare
expenditure can have a significant influence on the growth of the stent market
in Indonesia. Healthcare expenditure refers to the amount of money spent by
individuals, governments, and organizations on healthcare services, treatments,
and medical devices. As healthcare expenditure increases, there is a greater
capacity to invest in advanced medical technologies and treatments, including
stent placement procedures. This improved access to healthcare services can
drive demand for stent interventions, especially among patients who might not
have previously had access to such treatments. Increased healthcare spending
often leads to the expansion and improvement of medical facilities, including
hospitals and clinics. This expansion can result in enhanced infrastructure for
performing stent procedures and other cardiovascular interventions. A larger
healthcare budget allows for the allocation of resources toward the purchase of
medical devices such as stents. This increased demand can drive manufacturers
to provide a wider range of stent options, leading to greater market growth. Rising
healthcare expenditure may include funds allocated for training and education
of healthcare professionals. This can lead to a more skilled workforce capable
of performing stent procedures, contributing to the growth of the stent market.
Increased funding for healthcare can support research and development efforts
in the field of medical devices, including stents.
This can lead to the
development of innovative stent technologies that cater to specific patient
needs, further driving the growth of Indonesia Stent Market. Higher healthcare
expenditure can lead to the expansion of health insurance coverage, making
stent procedures more accessible and affordable for a larger portion of the
population. This can stimulate demand for stent interventions. A well-funded
healthcare system can attract patients from neighboring countries seeking
advanced medical treatments. Medical tourism can contribute to increased demand
for stent procedures and other cardiovascular interventions. Governments may
allocate more resources to address the rising burden of cardiovascular
diseases. Initiatives to improve heart health awareness, preventive measures,
and access to treatments like stent procedures can drive market growth. A
growing economy and increased disposable income levels can lead to higher
healthcare spending by individuals. This can translate to more individuals
seeking advanced medical interventions, including stent placements. Sustained
increases in healthcare expenditure can lead to long-term improvements in
healthcare infrastructure, which in turn can facilitate the growth and
sustainability of the Indonesia stent market.
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Key Market Challenges
Economic
Constraints
Economic constraints can have
a notable influence on the growth of the stent market in Indonesia. Limited
healthcare budgets and financial challenges can impact various aspects of the
stent market, from patient access to medical technology to the overall demand
for stent procedures. Stent placement procedures can be costly, encompassing
expenses related to the stent itself, medical facilities, healthcare
professionals, and post-procedure care. Economic constraints may limit the
ability of some patients to afford these procedures, resulting in reduced
demand. Limited healthcare budgets may lead to prioritization of essential
healthcare services over elective procedures like stent placement. This can
result in delayed or deferred stent procedures, impacting the overall growth of
Indonesia Stent market. Economic constraints can lead to disparities in access
to healthcare services. Patients with limited financial resources may face
barriers to accessing specialized cardiovascular care, including stent
interventions. Additionally, Healthcare institutions operating under economic
constraints may struggle to invest in advanced medical technologies, including
stent devices. This can hinder the adoption of newer and more effective stent
options. Inadequate insurance coverage for stent procedures can place a
financial burden on patients. Patients may be discouraged from seeking stent
interventions if they are concerned about high out-of-pocket costs. Economic
challenges may impact the development and expansion of healthcare
infrastructure, particularly in rural or underserved areas. This can limit the
availability of facilities equipped to perform stent procedures. Economic
constraints may lead to reduced investments in research and development for
innovative stent technologies. This can limit the introduction of new and
advanced stent options to the market. Economic limitations may
affect the attractiveness of Indonesia as a medical tourism destination for
stent procedures. Patients from other countries may choose alternative
destinations with more favorable economic conditions.
Regulatory
Challenges
Regulatory
challenges can significantly influence the growth of the stent market in
Indonesia. Regulatory processes, approvals, and compliance requirements can
impact the availability, accessibility, and adoption of stent procedures and
related medical technologies. Lengthy and complex
regulatory approval processes can lead to delays in introducing new stent
technologies to the market. These delays can hinder the timely availability of
advanced stent options for patients and healthcare providers. Stringent
regulatory requirements may discourage manufacturers from introducing their
products to the Indonesian market. This can result in a limited selection of
stent devices, potentially limiting treatment options for patients and
healthcare professionals. Regulatory challenges can discourage investment in
research and development of innovative stent technologies. Manufacturers may be
reluctant to invest resources in developing new products if regulatory hurdles
are perceived as too burdensome. The complying with complex regulatory
requirements often requires significant financial resources. Manufacturers may
need to invest in additional testing, documentation, and administrative
processes, leading to higher costs that can impact pricing and affordability. If
Indonesia's regulatory standards diverge significantly from international
norms, it can complicate the import and use of stent devices that adhere to
global standards, potentially limiting the options available to patients. Inconsistent
or unclear regulatory frameworks can create uncertainty for manufacturers
seeking to enter the Indonesian market. This uncertainty can deter investment
and slow down the introduction of new stent technologies. Additionally,
the stringent regulatory requirements for conducting clinical trials can limit
the availability of data needed to evaluate the safety and efficacy of new
stent technologies in the Indonesian population which in turn propell the
growth of Indonesia Stent Market in the forecast period.
Key Market Trends
Rise in
Minimally Invasive Procedures
The rise in minimally
invasive procedures is significantly influencing the growth of the stent market
in Indonesia. Minimally invasive procedures, including stent placement, offer
several advantages over traditional open surgeries, making them increasingly
attractive to both patients and healthcare providers. Minimally invasive procedures
are associated with smaller incisions, less scarring, reduced pain, and quicker
recovery times compared to open surgeries. As patients become more informed
about these benefits, they are more likely to choose minimally invasive options
like stent placement, contributing to increased demand. Minimally invasive
procedures often result in shorter hospital stays, allowing patients to return
to their daily activities sooner. This can lead to higher patient satisfaction
and a higher likelihood of choosing stent procedures over alternative treatments.
Minimally invasive procedures are generally associated with fewer
post-operative complications, such as wound infections and bleeding. This
improved safety profile can make stent placement a more appealing option for
patients and healthcare providers. The quicker recovery period
associated with minimally invasive procedures allows patients to resume work
and other activities more rapidly. This can have economic implications and may
make stent procedures more attractive to working individuals. Minimally
invasive procedures can be particularly beneficial for elderly or high-risk
patients who may not tolerate the physical stress of traditional open surgeries
well. Stent placement provides a less invasive alternative for these
populations.
Segmental Insights
Product
Type Insights
In 2022, the Stent Market
was dominated by the vascular stent segment and is predicted to continue
expanding over the coming years. The rising prevalence of cardiovascular
diseases across the country can be attributed to various diseases. Cardiovascular
diseases, such as coronary artery disease and peripheral artery disease, are
among the leading causes of morbidity and mortality worldwide, including in
Indonesia. Vascular stents are primarily used to treat these conditions, making
them a crucial segment of the stent market. The vascular
stents, particularly drug-eluting stents, have demonstrated significant
clinical efficacy in reducing restenosis and improving patient outcomes in coronary
and peripheral interventions. This clinical evidence supports the widespread
adoption of vascular stents. Vascular stents encompass
coronary stents, peripheral stents, and neurovascular stents. Within the
coronary stent category, there are subdivisions: bare metal stents,
drug-eluting stents, and bioresorbable stents. The market has witnessed an
upsurge in demand for drug-eluting stents due to the introduction of innovative
drugs by manufacturers, offering multiple advantages in the region. Drug-eluting
stents are composed of a combination of polymer coating, anti-restenotic drug,
and a conventional metallic stent that is blended with polymer and gradually
released over a specified duration.
Material Type Insights
In 2022, the Stent Market
was dominated by metal segment and is predicted to continue expanding over the
coming years. During the application of stents in surgical procedure, it is
necessary to check the hypersensitivity of material. Metals stents are
biocompatible to avoid corrosion, immune response, and radio opaque. Metal
stents have demonstrated efficacy in treating coronary and peripheral artery
diseases. Drug-eluting metallic stents, in particular, have shown significant
reductions in restenosis rates compared to bare-metal stents, leading to
improved patient outcomes.
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Regional Insights
The
Bali region has established itself as the leader in the Indonesia Stent Market. This
can be attributed to significant demand of medical devices such as stents.
Additionally, this region has significant healthcare infrastructure and demand
for medical interventions. Furthermore, the cities such as Jakarta, Surabaya,
Bandung, and Denpasar have been known for advanced healthcare facilities, tend
to have higher utilization of medical devices across the regions. Therefore,
this is expected to drive the growth of the Stent Market in Indonesia.
Recent Developments
- In Dec 2022, the
biodegradable coronary stents were developed to treat coronary artery diseases.
Bare-metal and drug-eluting stents show promising clinical outcomes, in recent
years, numerous preclinical and clinical trials have evaluated the properties
of bioresorbable stents, including polymer and magnesium-based stents.
Three-dimensional (3D) printed-shape-memory polymeric materials enable the
self-deployment of stents and provide a novel approach for individualized
treatment.
- In July 2022, the
development of drug-coated stents is employed in almost all instances of
percutaneous coronary revascularization and have demonstrated their superiority
over balloon angioplasty or stents without drug coatings. The configurations of
these stents are consistently advancing to optimize their effectiveness and
ensure safety.
Key Market Players
- PT B. Braun Medical Indonesia
- PT Boston Scientific
Indonesia
- PT Medtronic Indonesia
- PT Becton Dickinson Indonesia
- PT Abbott Indonesia
- PT Multidaya Medika
- PT Terumo Indonesia
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By Product Type
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By Material Type
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By End User
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By Region
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By Region
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- Vascular Stent
- Non-Vascular Stent
|
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- Hospital &
Clinics
- Ambulatory Care
Centers
- Others
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- Bali
- Java
- Kalimantan
- Sulawesi
- Indonesian Papua
- Sumatra
- Nusa Tenggara
- Moluccas
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- Saudi Arabia
- UAE
- Qatar
- Kuwait
- Bahrain
- Rest of Middle East
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Report Scope:In this report, the Indonesia Stent Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
·
Indonesia Stent Market, By Product Type:
o Vascular Stent
o Non-Vascular Stent
·
Indonesia Stent Market, By Material Type:
o Metal
o Polymer
·
Indonesia Stent Market, By End User:
o Hospital & Clinics
o Ambulatory Care Centers
o Others
·
Indonesia Stent Market, By Region:
o Bali
o Java
o Kalimantan
o Sulawesi
o Indonesian Papua
o Sumatra
o Nusa Tenggara
o Moluccas
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Indonesia Stent Market.
Available Customizations:
Indonesia Stent Market report with the given market
data, TechSci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Indonesia Stent Market is an upcoming report to be
released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]