Global Data latest report shows that by 2021, India will lead the APAC countries with its market value increasing from $31.5 million in 2013 to $50.4 million, representing a higher CAGR of 6%. Next to follow is Japan and China with CAGRs of 5.2% and 5% respectively. The CDSCO has also recognized this and has set guidelines for increased transparency in the requirements for medical device registrations in India.
“The usage of stents and the flexibility for its manufacturers, such as employing a pay-as-you-go model, is the important factor in driving India’s non-vascular stent market in the future” says Priya Radhakrishnan, Director of Medical Devices GlobalData (Information on how to non vascular stents in India)