Our Drug Discovery Services Give You an Unfair Advantage! Details
Spotlight on Healthcare
Healthcare is one of our focus areas at TechnologyPark.com. This is a rather broad area that includes:
- pharmaceuticals / biopharmaceuticals
- biomedical and diagnostic devices
- clinical research and trials and clinical trial outsourcing
- drug discovery, design and contract pharmaceutical R&D and manufacturing
- hospitals, medical lab, doctors' offices and medical tourism
Industry in Transition
Healthcare industry is in the midst of sea-change. With healthcare costs spinning out of control, pharma profits under a tight squeeze due to many of their drugs coming off-patent and competition from generics, and drug development costs sky-rocketing, the industry is undergoing a major transformation.
Innovation - Engine of Healthcare
However, the bedrock of the healthcare industry is innovations. US leads the world in healthcare innovations - whether it is new drugs, biotech breakthroughs, new medical devices or diagnostic tests. Many of these innovations are hatched in the laboratories of small companies and universities.
To support these innovations these companies rely on licensing deals, VC funding, banks, or through other avenues to raise capital. They also need to find distribution and strategic partners who will help sell their products and technologies.
Leveraging Resources in the Connected World
But in addition, in this era of cost-cutting, the companies, both large and small are also looking to leverage their resources to get most bang for their buck. Now-a-days India and to a lesser extent China is often an integral strategy of extending the resources of any healthcare company. Big and small pharma are farming out drug discovery research, manufacturing and clinical trials to India, healthcare insurance companies are exploring medical tourism, doctors and medical offices are outsourcing transcription services and billing, and even some diagnostic services to India.
Talent - Key to Success
In addition to capital resources, no company can succeed without talented people. In the area of healthcare, particularly in biotech and drug development area, finding the right talent, whether in the USA or elsewhere is critical. However recruiting them is getting increasingly difficult as there is a shortage of talented people to support all the innovations taking place, particularly in the biotech / biopharma industry.
How to Navigate Choices and Priorities
For a small to midsize innovative company, trying to keep its head above water, the choices and course of action can get confusing. Finding a licensing or strategic partner can be very time cosuming. For a company not familiar with India, how can they choose a good company which is right for them for contract research / contract manufacturing / clinical trials from myriad of choices? How to quickly find and attract the right talent to carry forth the work of the company?
Enter TechnologyPark.com
We understand the issues facing small, innovative, growing companies. We know because we have been there. And we know the terrain well.
We offer a suite of services to small innovative healthcare companies, including:
- Marketing your technologies to companies
- Helping you find suitable companies for strategic partnerships, in-licensing, out-licensing or collaborations
- Finding you the right talent, internationally
- Helping you extend your resources by finding right R&D and contract manufacturing, and clinical development partners in India
- Helping you manage offshore relationships
- Helping you with business development relationship worldwide
Healthcare and India - A Business and Collaboration Opportunity
"India's biotech industry could surge to $25 billion in annual sales by 2015, from its 2006 level of $1.5 billion, "if we act and invest decisively."
- M. K. Bahn, secretary for the Indian government's Department of Biotechnology
- India has the largest English speaking population, after the US
- GDP Growth ~ 9.0% in 2007 (agriculture 2.7%). Second fastest after China
Size of Middle Class is exploding ~ grow from current 300 million plus to 580 million in 2025 - India produces 3 million science and engineering graduates, 700,000 post- graduates and ,1500 PhDs every year
- 15-20,000 scientists are engaged in the biotech sector
- Cost of skilled personnel is far lower than the US or the West
- Outside the US, India has the world’s highest number of FDA approvals
- World-class facilities for generic manufacturing that comply with internationally harmonized standards such as Good Laboratory Practices (GLP), current Good Manufacturing Practice (cGMP) and Good Clinical Practices (GCP)
- Excellent low cost fermentation technology and generic biologicals
- Indian population has similar genetic profile as US and European patients due to joint Aryan descent, making it advantageous to outsource clinical trials
- Much easier patient enrollment for trials because of low availability of good medical care
- Many excellent medical hospitals and clinics for a variety of specialties
- Health spending amounted to 6% of GDP, one of the highest levels among developing nations. Today the total value of the sector is more than $34 billion
- Indian health care grew at a compound annual rate of 16%. Total health outlays now top US$34 billion, which translates into roughly 6% of the gross domestic product. Moreover, the government's Department of Commerce projects spending will top US$40 billion by 2012.
- A large unmet medical need and hence a great market for healthcare products and services
- In India, current bed to thousand population, at 1:11, compares poorly even with neighboring countries. China, Korea and Thailand have about 4.3 beds per 1000 populations. To reach that level, we will need over 3 million beds with a requirement to invest US$240 billion.
- India has 5,03,900 doctors, 7,37,000 nurses, 162 medical colleges, 143 pharmacy colleges and 3,50,000 chemists. There are 15,097 hospitals accounting for 8,70,161 hospital beds in India. There is an extensive three-tiered government healthcare infrastructure comprising 23,000 Primary Health Centers(PHC) and 1,37,000 sub-centers serving the semi-urban and rural areas and 3000 (CHC) Community Health Entrees-(Source: OPPI 2000 Estimates)
- US has 2,340 doctors as compared to India’s 143 doctors for very 10,000 people
- According to a Frost and Sullivan Study, the Indian medical hardware market (equipment and devices) is estimated at Rs 65.32 billion (US $1.3 billion) in 2001, growing at 12 per cent per annum, which is almost double the market size in 1993
- With India becoming a healthcare destination, Health Tourism Industry, market is growing at around 25% per year and will be at around US$2 billion by 2012.
Our IndiaConnect Services for Healthcare Companies
Let us help you connect with Indian markets and with India's healthcare community. We can:
- Help you in securing marketing and licensing arrangements with Indian companies
- Provide opportunities to accelerate your technology development by bringing to you collaboration, contract research, contract manufacturing possibilities
- Bring you acquisition / in-licensing / out-licensing opportunities
- Help you set up your presence in India
- Helping you with clinical testing in India
You can find out more about our IndiaConnect Services here.
Together We Can Do It
If you are in healthcare / life science business, let us help you grow your business. Let us get involved with you as your virtual team while you focus on building your technology platform. Contact us today.