Indian stent makers are becoming increasingly viable competitors in international markets, adding another layer to an industry already crowded with a number of players.
That means that the global market may see a lot more of companies such as Meril Life Sciences, DNA (Daily News & Analysis) reports. The Mumbai, India, publication notes that the company makes more than 60,000 stents each year, but nearly half are exported to countries such as Germany and South Africa.
But Meril and others are also targeting emerging markets around the world, from parts of Asia to the Middle East, Latin America and Eastern Europe, the story notes, where the regulatory hurdles aren't quite as rigorous and much easier, and lucrative, to obtain.
This could be a problem for global stent market leaders such as Abbott ($ABT), Medtronic ($MDT), Boston Scientific ($BSX) and others, which are also seeking to expand in emerging markets. Indian stents are much cheaper, the story points out, while international rivals are far more expensive.
As a result, Meril says, its international sales are growing 40% annually. That, and the fact that an analyst told DNA that international markets increasingly see Indian stents as safe with good outcomes, is all great news for Indian stent makers, but the big guys will likely watch this development all the more closely.
- read more