Growing Pharma, Biotech help Indian equipment market grow
Growth in the pharmaceuticals industry that has been witnessing rampant outsourcing of clinical trials and drug discovery research to the country has influenced strong growth in the Indian laboratory analytical instruments market. Adding to this has been the increasing emphasis on environmental conservation as well as the growth in the biotechnology sector.
Riding on this wave, the Indian market for laboratory analytical instruments is expected to register double-digit growth rates compared to the modest 3-4 % growth rate in other countries.
New analysis from Frost & Sullivan, Indian Laboratory Analytical Instruments markets, finds that the market earned revenues of over 7.89 billion rupees in 2007 and estimates this to reach 18.07 billion rupees in 2011.
Support from the government and huge investments have helped accelerate the pace of development and mitigate potential bottlenecks, enabling the country to become the hub of biotechnology R&D activity. Also witnessed is a growing emphasis on preservation of the ecosystem through total environmental conservation. Laboratory analytical instruments being critical in these sectors, their growth is expected to remain unscathed in the future. The Indian laboratory analytical instruments market is highly price sensitive. End users such as the government, research institutes, and the pharma industry are very focused on their needs, procuring only the best of equipment with all features enabled at a highly competitive price. There is a distinct movement toward the procurement of value-enhanced products, but a reluctance to pay a higher price for such devices is also evident.
To remain competitive in the market, foreign suppliers are forced to shed a portion of their margins to enable them maintain prices at acceptable levels. Efforts are being directed toward inspiring sales through brand equity image. The best way forward for foreign suppliers is to either set up joint ventures with local manufacturers or go the whole hog and establish their own manfuacturing facilities in India.
SaskTel and Alcatel-Lucent launch remote monitoring
France-based Alcatel-Lucent and SaskTel have launched LifeStat Remote Monitoring and Health Management, a service that records and transmits daily blood glucose and blood pressure readings, automatically creating confidential, easy-to-use reports that can be viewed online by the client, their caregivers and the client’s healthcare professionals.
The ongoing development and support of the LifeStat platform and applications will be managed by SaskTel and Alcatel-Lucent through their Salveo project, which is based in Saskatchewan, Canada. The Salveo project is funded by the two parties with the primary objective of becoming a world leader in health and wellness telemonitoring software applications.
“LifeStat is a tremendous success story for SaskTel, Alcatel-Lucent and the Province of Saskatchewan,” said Ken Cheveldayoff, Minister of Crown Corporations for the Province of Saskatchewan. “Not only will LifeStat result in healthier people globally, it has created 20 new technical and professional positions in this province.”
“The LifeStat technology may hold the key to a new paradigm of diabetes and chronic illness management in primary care. We are looking forward to using this technology to introduce standard clinical diabetes management in the patient’s home with the help of the Home and Community Care team and the patient’s family physician,” said Dr Sheldon Tobe, Sunnybrook Hospit