As one of the top pharmerging markets, India’s growth potential in this sector is huge. How is BioAsia India transforming to help India Pharma Inc unleash its true potential and optimise its growth opportunities?
BioAsia is a cross-sectional forum and is a gateway for people from the life sciences, biotechnology, pharma, medtech and healthtech communities to come together, connect and contribute on a larger scale. Since our inception twenty years ago, we have seen a constant rise in the number of distinguished, world-class participants from more than 50 countries. In its 20th edition, BioAsia has now established itself as Asia’s largest life science conference, thanks to the polished record and reputation we have gained over the years.
In the prior editions, BioAsia has provided the Indian Pharma community with a platform for more than 20,000 B2B, B2R, and R2R meetings through our global delegates. It has provided the Indian Pharma community with a pathway to participate with luminaries from 95+ countries, sign 250+ Letter of Intents, Bilateral Cooperation Agreements, and MoUs, share 30+ knowledge papers and policy recommendations and witness a rise in Trade and Investment to upwards of $2.5 billion.
What are the highlights of BioAsia 2023? How will it differ from its previous editions? Can you enlarge on the three most important value additions for the participants?
Leveraging the success of the event over the years, the 20th edition is being planned on a grand scale. The event is scheduled between February 24 to 26, 2023 at HICC, Hyderabad with the theme of “Advancing for ONE: Shaping the next generation of humanised healthcare.” The COVID-19 pandemic has shown us the power of collaborative effort and its impact when the whole life sciences ecosystem came together to contain the virus. The ‘Advancing for One’ event celebrates the same spirit and asks the question of how this can be expanded to solve the future healthcare crisis.
The last two editions of BioAsia were conducted in a virtual format due to the pandemic and now with spaces opening up, we are glad the forum will be in-person this year. The participation in the virtual editions was high, but we missed the physical connection and presence of the participants. With that in mind, BioAsia this year will feature insightful sessions and discussions on disruptive technologies in healthcare, accessibility, and affordability of healthcare for all, supply chain constraints with the current geopolitical uncertainties, R&D and technology, among others.
Over the course of the three days, prominent industry leaders, distinguished scientists, researchers, and entrepreneurs will come together to discuss humanising healthcare and will hold constructive discussions on how cross-sectional ecosystems can be integrated, how disruptive technologies can be best utilised, and how we can drive quality healthcare with accessibility and affordability at the forefront in the near future. Centered around these three questions, we are sure the 2023 BioAsia forum will generate meaningful value addition for all stakeholders and participants.
Elaborate on Bio Asia’s role and strategies to create and sustain an ecosystem conducive to driving innovation in the Indian pharma/biopharma industry.
BioAsia has consistently played a crucial role in the development of R&D in the Indian pharma/biopharma industry right from its inaugural edition in 2003. The forum was able to attract world-class players from the healthcare, pharma, and lifesciences industries and connect them with emerging leaders in the Indian community. With the recent editions of BioAsia, we have been taking a step further and have brought in prominent government dignitaries, industry leaders (pharma, healthcare, and lifesciences), researchers, entrepreneurs, and academicians with the aim of closing in on the intellectual and resource gap and increasing knowledge share in the Indian pharma community.
This year’s event will be centered around the ‘One Health Approach’ (nexus of science, indigenous knowledge, and policy) and the journey toward achieving universal healthcare. During BioAsia 2023, speakers will address key questions like what it means to strengthen healthcare infrastructure, how technology can be used to increase access to healthcare, how to increase prevention-based healthcare, and how to solve the problem of innovative and sustainable financing mechanisms to support the overall development of healthcare in India.
What does the future hold for this industry event? How is it poised to evolve with the shifts that the life sciences industry is undergoing?
With every edition, BioAsia has been steadfast in improving participation by key stakeholders including the number of countries, companies, luminaries, academicians, and research scholars who participate. BioAsia is expecting more than 2,000 global leaders and delegates from over 50 countries this year. The 2023 event is organised with an aim to problem-solve Healthcare for All and hold cross-sectional discussions between key stakeholders. We will also delve into conversations about the use of technology to provide telemedicine, wearables and Metaverse.
How should the stakeholders of the pharma/biopharma sector work towards streamlining the regulatory environment and sustaining cost competitiveness even as they build next-gen capabilities to leverage existing and emerging opportunities?
The pharma/biopharma sector is highly regulated, and navigating the regulatory environment is critical for the industry’s success. At the same time, the industry must also focus on sustaining cost competitiveness and building next-gen capabilities to remain competitive and leverage emerging opportunities. However, there are few strategies that the stakeholders in this sector can use including collaborating with regulatory agencies to streamline the regulatory environment. Government of Telangana has commenced Life Sciences Advisory Board comprising industry leaders, academia and Government Officials, the objective of the board is to advise on the overall development of sector in the state, including regulatory changes required. Apart from this, life sciences and pharma companies can adopt various strategies such as investing in next-generation capabilities, usage of digital technologies, investing in learning and development (L&D) and more. These actions will help the industry take advantage of emerging opportunities and deliver better healthcare outcomes for patients.
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