Cardiac disorders account for the largest number of deaths caused in India every year, with an approximate 3 crores of people being affected by it! In fact, every year, an approximate of 2 lakh cardiac surgeries are executed in India! More than 30% of deaths caused in India are heart related. However, the rates have been controlled with the advanced technology driven interventions that can help deal with cardiac complications. And, one of the most important elements used in all these procedures is the stent.
Stents – Usage and price in India
Although almost 2 lakh cardiac surgeries are performed every year, with stents being used in almost all of them, the year 2018 saw a usage of around 7 lakh stents! These stents are so tiny, and so intricately manufactured, which is why their costs are so high and significant. The average rates of bare metal stents range at around some Rs. 7000-8000, while the average cost for drug eluting stents is a whopping Rs. 25,000-30,000!
Price control
However, the Government’s regulatory agency, the National Pharmaceutical Pricing Authority (NPPA) has brought about price parity, which has made the stent game even more competitive. The pricing of stents has thus been controlled, and domestic Indian companies who manufacture these stents have been encouraged to make their footprints visible in comparison to their multinational counterparts, with equally competitive and enhanced stents.
The shift from importing to manufacturing
India has been always relying on imports to supply and provide equipment for the country’s healthcare system. But, the manufacturing of Indian stents with such good quality and reduced price is going to boost the Indian medical devices retail market like never before. Earlier, where American multinational companies dominated the import-dependent stent industry of India, now domestic manufacturers have started making cardiovascular implants with equally advanced features and quality, at a controlled price.
The “TALENT” clinical trial study proof of quality
However, the weak rupee makes it difficult for Indian medical device companies to remain profitable, especially when competing with low-cost Chinese products. But, this doesn’t stop us anywhere! Just like we emerged as the world’s pharmacy, our Indian medical devices sector too has stepped up its technological expertise. In fact, a random clinical trial “TALENT” study has also determined that Indian drug eluting stents are at par with other globally available variants. This has made Indian manufacturers even more confident that they can now battle it out with assorted international players in a mixed market space.
Indian stents – The better products
The successful outcome of Indian stents and the verdicts given by such clinical trials rests the case about the quality of Indian stents. Besides, the NPPA has also made sure that these internationally benchmarked Indian stents are now available under an affordable cost. When both price and quality go so beautifully hand in hand, there is no doubt that the accessibility of cardiac care for Indian patients will be significantly facilitated.
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