India: New Price Caps for Some Medical Devices

The Indian government is reportedly developing a list of essential medical devices. Prices of these devices would be capped. Devices will be chosen based on their criticality for treatment, performance, and international regulatory approvals. It is expected that the list will include products such as catheters, cardiac and drug eluting stents, and other implants. Currently, only two medical devices — intrauterine devices and condoms — are subject to price caps.

Imported medical devices account for more than 75% of the Indian medical device market, which is valued at more than $4 billion.