View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Comment
February 10, 2017

India brings coronary stents under price control

The prices of coronary stents sold in India dropped to less than half of their previous values at the end of January. India’s governing body in control of medical device prices ordered companies selling coronary stent products to reduce their prices sharply, bringing prices from previous highs of $2,900 USD (Rs1.95 lakh) to as low as $325 USD (Rs 21,881).

By GlobalData Healthcare

The prices of coronary stents sold in India dropped to less than half of their previous values at the end of January. India’s governing body in control of medical device prices ordered companies selling coronary stent products to reduce their prices sharply, bringing prices from previous highs of $2,900 USD (Rs1.95 lakh) to as low as $325 USD (Rs 21,881).

Free Report
img

Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

This move, several months in the making, was to combat the unaffordable runaway pricing of stents in India, which spent an average of $70 USD per person for healthcare in 2014. The Indian National Pharmaceutical Pricing Authority (NPPA) had been in talks with local and international manufacturers to discuss pricing trends and to agree on price regulations that are sustainable yet profitable for the companies involved.

Despite the talks, the price limits are unpopular with medical device companies, who state that it will stifle product innovation and development. The Medical Technology Association of India said that it will not allow Indian doctors to provide revolutionary new stents to their patients due to cost restrictions, thus preventing them from securing a high standard of care.

Given India’s quickly growing GDP, as well as its young workforce, the healthcare industry may be dealing with a much wealthier population in a couple years. It is possible that the increasing wealth may result in market pressures pushing up the prices of coronary stents again as newer and better stents become more affordable to the population.

Related Companies

Free Report
img

Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network