Pankaj Patel, Chairman of Zydus Lifesciences
Pankaj Patel, Chairman of Zydus Lifesciences, at a session on the IIMA healthcare summit, shared India’s significant milestone in the healthcare sector. He emphasized the importance of innovation, affordability, and accessibility to improve the healthcare sector as well as the importance of reducing healthcare inequality and delivering quality services to rural and underserved areas. He highlighted the emerging technologies that transform drug discovery and patient care. Following are the key insights from his address.
India has made tremendous strides in the healthcare sector, and there has been significant growth in healthcare reach. The population in tier two and tier three cities can avail themselves of excellent quality healthcare services. According to Prime Minister, Narendra Modi, India is the “pharmacy of the world.” It is a great pride for India as one of the top producers of generic drugs and holds the third rank globally in pharmaceutical production by volume. In today’s world, only a few drugs are emerging, particularly for chronic diseases. The development of these critical drugs allows patients to access treatment at an affordable cost.
The way to make India a success story lies in the medical device sector. The growth potential is significant with the rapidly evolving industry and increasing demand. The evolving advancements in the pharmaceutical sector ensure that the medical industry will emerge as a major player. This growth is backed by the National Digital Health Mission which will build digital health integrated infrastructure. The main focus includes telemedicine, digitization of healthcare records, and improving accessibility for patients. This will improve the digital health infrastructure and also the adoption of digital advancements in healthcare.
While there is significant progress, challenges remain in achieving healthcare equality, particularly for underserved populations. The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY) scheme ensures getting access to healthcare without any cost. However, large segments of the population still lack full access to healthcare, underscoring the need to improve quality, affordability, and accessibility to all. It is important to constantly skill people and build capabilities in the overall healthcare workforce, especially in small towns and rural areas.
India faces challenges in providing advanced medical education and training to meet the growing need and specialization which is crucial to make policies and legislation more robust. In recent times, the patent rule has been amended which indirectly resulted in the evergreening of patents. As a result, the healthcare cost has gone up which could be detrimental for the accessibility of people. Moreover, the insurance coverage is not progressing as rapidly as it ideally should. Faster insurance coverage would help people significantly.
A patient-centric approach should be a guiding principle. It requires a shift from creating a healthcare system that focuses on a patient’s needs above other considerations. The country’s growth towards Viksit Bharat, the greater inclusiveness and equitable healthcare system is crucial which can cater to the large population of India. The emerging trend in the life science industry combines life science, information technology, engineering, and Medicare.
For instance, 80% of diabetes cases cannot be cured. Digital technologies have improved science and capabilities, helping to create drugs that can cure disease and create palliative and helpful care. Moreover, the research has proven that pancreatic beta cells can be regenerated which can cure diabetes. Nowadays, many cancers are being cured; however, the ultimate goal is to achieve complete cures to make healthcare more concerned.
The dynamic activity within the startup ecosystem in both global and India-specific platforms has emerged as a recent development. Such developments by start-ups include Artificial Intelligence and accelerated drug discovery. AI can create real-world evidence studies, along with performing Machine Learning analysis, to further improve the outcome. Pharmaceutical production is not continuous manufacturing; it is batch production.
However, transitioning to continuous manufacturing will be pivotal for the industry. In the startup, things are happening globally as well as in India. AI and accelerating drug discovery are crucial and also used to create real-world evidence studies and machine learning analysis which can help to achieve healthcare better. In the manufacturing process, pharmaceutical manufacturing is batch production but it has to move to continuous manufacturing. Although the industry is very conservative, quality concerns do not change rapidly.
Advanced applications of drugs are manufactured using 3D printing. For instance, there are eight knee joint options available for knee surgery. Surgeries have been done based on the joint which will fit the patient well. However, patients can have a chance to get good results as well as unsatisfactory results. However, with 3D printing, patients can have a knee replacement identical to their natural knee. India has huge potential because of its scientific talent. These should be the key areas for start-ups to prioritize.
Similarly, organ and tissue engineering are emerging as crucial fields for the future. Although there are many more areas to explore, adopting revolutionary approaches to disease treatment is crucial. India must emerge as a game changer to achieve Viksit Bharat. By 2027, with the right kind of policy framework, encouragement, and efforts, India will have the potential to discover 100 new drugs. Young India is aspirational and this ambition should drive us to achieve this milestone and introduce new medicines to the world. India can make this happen with young scientists and a good research institute.
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