E-pharmacies, Telemedicine to help cut health expenses

The Indian pharma industry and the healthcare fraternity at large will continue to lead the fight.

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Medicine Laptop computer Online
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Last Updated on December 29, 2021 by The Health Master

Vaccines, medicines, and diagnostics — all key ammunition to fight the raging pandemic — will be in the spotlight in 2022.

Additionally, acceleration in digital transformation, healthcare innovation, telemedicine, and a focus on preventive care will also be core themes.

The pace of this change will accelerate through 2022 as e-pharmacies, telemedicine, video consulting, wearables, and virtual care witness huge growth, bringing savings and convenience for consumers.

The sector will continue to be red hot, with a spate of private equity deals expected in active pharmaceutical ingredients deals (raw materials) and formulations, while medtech, health tech, and diagnostics will be chased by startups and investors, says PwC India partner & pharma leader, Sujay Shetty.

Analysts say these trends will continue to drive R&D, investment and value creation, with the domestic pharma market expected to reach $130 billion by 2030 — a nearly threefold growth from $45 billion this year.

Indian Pharmaceutical Alliance secretary general Sudarshan Jain says, “C-19 is the biggest humanitarian challenge the world is facing today.” It has brought healthcare centre stage and also the role of global cooperation and coordination.

The integrated approach focused on vaccines, therapeutics, testing and C-19 appropriate behaviour will be critical to meet this challenge.”

With the threat of mutant strains emerging, the focus will be on getting as many people vaccinated as possible, and addressing the massive vaccine inequity globally. This presents an opportunity for contract manufacturing, R& D and innovation for domestic companies.

The pandemic has created unprecedented disruption in the health ecosystem, highlighting the urgency to augment healthcare infrastructure, and discover partnerships and spur innovation.

As healthcare innovation is set to accelerate, the industry is likely to become more personalised, more focused on preventative care and more digital. Wearables, telemedicine and gene-editing are other areas that may attract investments.

“Since 2020, we have seen the SARS-CoV-2 virus go through various mutations and still pose a threat to the health and safety of people across the world.

Multiple mutations like the ones we are seeing in the Omicron variant may lead to re-infections in those already infected or, in some cases, even breakthrough infections.

Omicron, labelled as a ‘variant of concern’ by the WHO, has already caused a surge in cases across the world. So, the threat still looms large and public health action will need to continue.

The Indian pharma industry and the healthcare fraternity at large, which has been playing a critical role so far, will continue to lead the fight.

From vaccines to developing a cure, supplying all possible resources and essential medicines to fight the pandemic, the industry has the capabilities to fight the challenge ahead,” says Zydus Cadila managing director Sharvil Patel. 

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