EY report, “Moving the Needle: Healthcare industry in a post-COVID world”, released today at BioAsia 2021 – one of the world’s conventions for life sciences and health technologies.
It is imperative that India reassess its current role within the global life science industry. It must explore the possibilities of consolidating and strengthening its position in the light of geopolitical and economic changes. It must achieve self-sufficiency as a globally competitive pharmaceutical industry with innovation as a guiding principle for its future growth. As the Indian life science industry develops its strategy for future growth, now is the time to assess our current position globally and identify key areas of focus. EY’s report in collaboration with BioAsia explores the current and future potential of the industry and aims to identify areas where we need to ‘move the needle’ immediately. It captures unique insights from EY’s life science industry leaders on key priorities of how the industry could prepare for new realities in the post-pandemic world. It aims to foster understanding of evolving patient / consumer care needs by creating collaborative solutions encompassing industry stakeholders throughout the value chain.
Speaking at the event:
Sriram Shrinivasan, Global Generics and National Health and Lifesciences Leader, EY, says: “India needs to take a ‘moonshot’ approach to develop and launch innovative medicines. We need to set a target on how many new chemical and biological entities we need. launch in the next 10 years and go after creating the favorable ecosystem for it. Once a favorable ecosystem is in place, it will create a virtuous circle and this sector would be more than self-sufficient. Lots of venture capital funds would come in automatically and a thriving environment would be created. India must also take advantage of its two strengths in computer science and biotechnology to create a differentiated proposition and be competitive in the world. “
Kaivaan Movdawalla, Partner, Healthcare, EY India, says: “It is this data that will be the foundation of the healthcare system that will revolutionize the advancement of products, techniques, diagnostics and therapies for providers, technology players. medical and pharmaceutical and will contribute to public health. / Epidemiological planning. The power of data that can be unleashed by digital capabilities is unimaginable and can be consolidated, analyzed and harnessed for better intelligence and more precise information for research and development.