NEW DELHI – Key Stakeholders of Asia’s Fast Growing Healthcare Sector Congregated at Quadria Capital’s Global Investor Healthcare Conference to Ideate on Their Common Vision for an Optimal Regional GrowthModel .
While India’s healthcare system has traditionally been berated of being under-penetrated, there is an underlying positive theme that’s emerging to propel its position as a regional leader in the space. The sheer size of the demand for affordable and quality healthcare, supported by a highly-skilled talent pool and fuelled by resourceful entrepreneurs, provides the ideal backdrop for a cohesive vibrant healthcare ecosystem to evolve.
“For anyone looking to capture the myriad of opportunities presented by the rapidly expanding Asian healthcare segment, local insights drawn from on-the-ground experiences in India is an invaluable point of reference,” said Dr. Amit Varma, Co-Founder and Managing Partner during his opening address at Quadria Capital’s Global Investor Healthcare Conference, held in New Delhi.
In the space of lifesciences, India has emerged over the years as a global powerhouse for the pharmaceutical sector. Licensing has been proven as an effective channel to introduce new products to the region while at the same time serving as a promising business development opportunity for global MNCs. As such, international collaboration through creative partnerships, JVs and acquisitions will continue to serve as a sustainable channel to elevate the quality of treatment in the region.
There is a growing trend for Indian pharma players to transition into specialised manufacturing as they climb higher up the learning curve. This is exemplified by Quadria’s recent investment in Concord Biotech, India’sleading manufacturer of fermentation based APIs focused on immunosuppressant and oncology segment.
The medical technology and device segment is another area in which global majors have traditionally been dominating. At the same time, there are strong incentives for local/regional players to compete over price and customisation, given the high prices of imported devices and implants. While India has pioneered in this respect, with local players capturing increasing market share, Malaysia has spearheaded localisation efforts acrossSoutheast Asia.
As local players continue on their quest for frugal innovation, global MNCs are responding to such challenges by localising manufacturing and moving distribution in-house. While it is still early days in the battle between the Davids and the Goliaths in this subsector, a view shared by the panellists is that solution-oriented models customised to local needs and the development of viable financing options to consumers are critical in this market.
Despite the fact that Asian healthcare industry is still in its nascent stage, Abrar Mir, Co-Founder and Managing Partner of Quadria Capital, is of the view there is a shared sentiment that India is slightly ahead of the curve in terms of market structure, business models, stakeholder collaboration and overall infrastructure which can hopefully blaze a trail towards the provision of healthcare for all in the region.
Other discussion topics covered at the forum includes the rise of single-specialty care as a sustainable and scalable model benefiting investors, practitioners and patients, as well as comparison against the multi-specialty model.
The summit was attended by leading healthcare care, pharma and medical devices players besides global investors from across Asia, Europe and the Americas. – PRNewswire