Multinational stent manufacturers like Boston Scientific, Abbott and Medtronic face new competition from a growing number of Indian stent manufacturers. According to a new report in Daily News & Analysis, a news publication based in Mumbai, Indian companies like Meril Life Sciences may cut into sales of established stent manufacturers.
Meril Life Sciences is an Indian stent manufacturer that produces more than 60,000 stents every year. As of now, more than half of these stents are exported to South Africa and Germany. However, Meril Life Sciences plans to expand into emerging markets around the world. This includes parts of the Middle East, Asia, Eastern Europe and Latin America. In many emerging markets, lax regulatory standards make entry barriers low for new stent manufacturers. As of now, established brand-name manufacturers can’t provide stents at the same low price as their Indian rivals.
Meril states that its international sales are growing at a rate of 40 percent every year. In addition, Meril notes that many international markets view Indian stent manufacturers in a positive light; quality and safety issues are not a huge concern for emerging-market purchasers of these Indian stents.