The 13th edition of BioAsia, scheduled to be held from February 8 to 10 next year in Hyderabad, is expected to deliberate some of the key issues relating to clinical trials, enhancing manufacturing capabilities, quality and affordability of medicines, among other others concerning the life sciences and healthcare sector in India.

The theme for the upcoming BioAsia 2016 edition is ‘Leveraging India to succeed globally’ which is aptly designed to address the contemporary market concerns faced by the Indian and global life sciences and healthcare industry.

Currently, though India is witnessing a new era of growth and opportunities in the life sciences and healthcare sector, it is equally facing challenges with regard to complying itself with the uncertain market conditions in the global arena. In this back drop the 13th edition of BioAsia is precisely designed to focus on building a stake holders consensus and draw a distinct road map to propel the growth of Indian life sciences sector globally.  

In fact, the life sciences sector particularly the Asia-Pacific biotechnology industry is  witnessing a growth phase on the back of several factors, such as cost effective manufacturing capabilities, improved clinical capabilities, growing health needs of large population base, exports and increasing government support among others. According to an industry report, the biotechnology industry has grown at the CAGR of rate of 6.7 per cent from 2010 to 2014 which has set a total turnover of $77 billion in year 2014.

Asia and in particular India is an apt destination for the Multi National Companies (MNCs) to take advantage of various opportunities available. In fact, India has emerged as a preferred destination for contract research and manufacturing activities, process re engineering and innovative R&D to act as a one stop solution with various enablers in place. With increasing pressure to reduce drug development costs and accelerate R&D programs, several MNCs have started setting up R&D centres in India to take advantage of cost-effective, yet highly skilled talent pool.

Of late, the government’s support in bringing a comprehensive Intellectual Property Rights (IPR) Policy, launch of ‘Make in India’ and financial support programs, regulatory reforms, etc. are expected to further boost the growth for Life Sciences industry. “BioAsia 2016 will aim to give additional impetus to this growth wave and will be a platform for Global thought leaders to brainstorm and debate on emerging trends in the industry and their perspectives on how to leverage potential and opportunities India is presenting to the global life sciences industry,” informed a spokes person of BioAsia.

An expert committee constituted by the Government of Telangana, comprising of members from industry, academia, trade bodies, Secretary Industries, Arvind Kumar, Industries Commissioner and MD of Telangana State Industrial Infrastructure Corporation (TSIIC) met recently to discuss the event plans.