Discuss the implications of capping the price of medical stents? What policy should government follow in order to support indigenous medical device development in India? (200 W)

Mentor’s Comment:

The issue of Prices of medical stents has been in news many times in recent past and hence prompted me to frame a question on the same.

The introduction should explain with clarity what Medical stents are and in short how they are useful in saving thousands of lives. Also mention about the National Pharmaceutical Pricing Authority which slashed the price of medical stents by up to 85%.

Further, mention its implications which can be Positive or Negative. Positive implication will include the points like affordable to poor, boost medical tourism due to reduced cost of angioplasty.

Next, negative implication includes, ill information, use of multiple stents will damage the heart cell etc. Demand and supply is the major cause of concern because of which stents are being imported from outside. Lack of indigenous research and development and India’s price control regime restricts multinational companies to release their modern product in India etc.

Next, mention about the government support like clinical research, animal testing, and human trials must be fast-tracked and should be as transparent as possible. Need to encourage and support the Indian stent manufacturers and medical devices, bank should provide loan etc.