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Price caps helping domestic medical device industry: AiMeD

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NEW DELHI: Indian medical devices manufacturers are set to capture 60% of the domestic market in one year.

The National Pharmaceutical Pricing Authority's decision to cut prices of medical devices such as knee implants and heart stents is helping the domestic medical device market grow manifold, Rajiv Nath, Association of Indian Medical Device Industry (AiMeD) said on October 11, 2017.

Lauding the price control measures, Nath said, “In the last six months, we have seen a positive trend towards increased sales for domestic manufacturers. This is more so in Tier 2 & Tier 3 towns due to higher affordable access post reduction of prices.”

He said, “We estimate that this trend shall continue and boost the idea for manufacturing and the Indian manufacturers will grab 60% of the market share by next year.”

Nath said “Heavy lobbying is going on and pressure has increased on India to revise its stance on price caps for medical devices and not to extend it to other devices, but India should do what's good for India and give advantage mainly to the common citizens who now have access to the best products at the most affordable prices and to domestic manufacturers.”

The lobbying against Price Capping is being done by MNC importers with overseas factories claiming to be Indian Industry when none of these makes stents in India. We await the announcements of price cap on other devices notified as Drugs e.g. heart valves, Intra Ocular Lens and Syringes and Infusion Products.

Nath requested that NPPA should exercise its powers to stop total withdrawal to avoid market shortages created by dominant players.

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