India catheters market is expected to grow at a CAGR of around 10.2% during the forecast period. The major factors encouraging the growth of the market include a significant rise in the prevalence of chronic diseases and favorable government initiatives for medical devices.  As per the Journal of the American College of Cardiology (JACC), the estimated age-standardized prevalence of CVD in India in 2016 was 5,681 per 100,000. This leads to the demand for cardiac catheters in the country for diagnosis and treatment of CVD conditions. Moreover, the Indian government is considering to control/reduce the prices of medical equipment, such as stent catheter and implants.

The Prime Minister Narendra Modi’s administration initiated to make healthcare more affordable in India by trying to curb prices on drugs and devices used to treat critical ailments such as CVD, cancer, heart attack, HIV/AIDS and diabetes. Several devices in India cost as much as five times the import or manufacturing cost as per state regulatory reports and industry officials. These kinds of initiatives are supporting to make medical devices more affordable and accessible. The favorable government initiatives to reduce pricing on medical devices further escalate the demand for catheters in the region. 

The major companies operating in the country include Abbott Laboratories, Inc., Boston Scientific Corp., and Medtronic plc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in July 2016, Boston Scientific Corp. introduced an integrated facility in India for developing minimally invasive technologies. The company has opened R&D and training & development center of 100,000 (Square Feet) to develop and sell minimally invasive devices, including pacemakers, catheters and stents for India and the major Asian markets as well as train physicians to use these devices.

Research Methodology

The market study of the India catheters market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

1. Financial reports of companies involved in the market
2. Whitepapers, research-papers, and news blogs
3. Company websites and their product catalog

The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models. 

Market Segmentation:

1. India Catheters Market Research and Analysis by Product Type

The Report covers:

• Comprehensive research methodology of the India catheters market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India catheters market.
• Insights about market determinants which are stimulating the India catheters market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.