The pharmaceutical outsourcing market (excluding contract manufacturing services) accounts for almost 75 per cent of the estimated $3.3-4.2 billion medical process outsourcing (MPO) segment in India, a survey has said.
According to an Assocham-EY joint study released on Tuesday, the pharmaceutical outsourcing market currently stands at $2.5-3.1 billion.
“While the payer outsourcing market constitutes $700-900 million of India’s MPO market, the provider market accounts for the remaining share of about $100-200 million,” said the study titled ‘Medical Process Outsourcing in India’.
Domestic players are gradually moving up the value chain in terms of service offerings, while maintaining their cost competitiveness, it said.
The rising demand for high-end healthcare facilities and multi-specialty hospitals, established medical and central lab infrastructure, and training centres is contributing to the growth of the healthcare and life sciences industry, thereby fuelling the domestic demand for medical process outsourcing, it added. The research suggested that the Government should focus on implementing data privacy laws, and introducing proper regulations around intellectual property and patent laws, among others.
The challenges around privacy laws, intellectual property laws and changing clinical trial laws continue to exist.
New Delhi, May 17, 2024: In response to the growing need for specialized pediatric care,…
Achieves significant advancement in Cancer Treatment to Enhance Quality of Life As per the National…
-An 11-year-old boy from Yemen and a 34-year-old man from Bengaluru, both suffered from end-stage…
Mumbai, 14th May 2024 – As part of its dedication to exceptional patient care, American Oncology…
Mumbai, May 11, 2024: In a landmark move for Indian healthcare, the introduction of Second…
Bengaluru, May 08, 2024: Cancer remains the illness most feared across the globe. But to combat…