According to DNA India, Indian stent manufacturers are flourishing in overseas market, especially in regions where regulatory clearances are relatively easy to get (such as South East Asia, Middle East, Latin America, or Eastern Europe).
According to Gautam Tripathy, national head of Meril Life Sciences, its stents have a big potential abroad, the company is even looking for annual growth of over 40% from the International markets. Regarding Meril, the Indian multi-national company makes around 60,000 stents annually, of which over 25,000 are exported to South Africa and SAARC (South Asian Association for Regional Cooperation) countries. Gautam Agarwal, director at Innvolution Med System, says that the acceptance abroad for Indian stents is growing tremendously even though domestic markets comprise 80% of their revenue.
Moreover, it also helps the stent exporters that hospitals abroad make upfront payment compared with a 4-8 month lag in India.