Digitalization of Indian Pharmaceutical Retails

Health Care and Pharmaceutical Industry in India is growing at a pace which even most progressive economists never anticipated. Pharmaceutical Industry is the “Sunrise Industry” in India even when the western world is under recession. Today almost 24000 manufacturers in India are producing pharmaceutical molecules in forms of tablets, capsules, syrups and injectable. However, the pharmacy retail market in India is largely unorganized. Currently there are about 1.2 million privately owned chemist and druggist stores in India, more than 80% of which are “Mom and Pop” shops. Statistics reveal that pharmacy retailing in India has a market size of over Rs 68,000 crore.

Digital impact on Indian Pharmaceutical Retail is going to play a major role in terms of creating tremendous values in multiple ways. Specially digitalization will ensure speed, transparency, excellent pharmacy practice, good retail management, fair pricing and optimize profitability.  

The increasingly health-conscious Indian today has numerous retail pharmacies jostling for his attention (and money). These pharmacies offer a great choice to the consumers. Two decades back, the average consumer spending on healthcare was eight per cent; today it is 20 per cent. The customer has also become aware of various offerings in the pharma market, and is demanding better services. Although some of the pharmaceutical giants and other corporates in the country have spotted the opportunity of organized pharmaceutical retailing in the country, there is still plenty of scope and growth opportunities in the space. Also, all the efforts to organize the pharmacy retail market has taken place at the brick and mortar level – very little to none has been done to organize this market at a digital level. As digital currency gains popularity post demonetization, consumers are gaining confidence with time to carry out transactions online and the willingness to go online for day-to-day activities is on the rise.

Written by – Partha Banerjee

Dialysis Related Research: A scope for Indian Researchers

Though an estimated US $ 100 Billion is spent annually for over 3 Million patients for treating end stage renal diseases globally, very little research is done. In recent years the areas of dialysis-related research is concentrated in the efficiency of the dialysis machines mainly funded by a few western players. India as a country is almost nonexistent in this field. A research oriented Dialysis facility in the area will not only cater to the deprived patient base of the region but can also generate significant patient data for pioneering analysis and research in the following untouched areas. These have immense commercial potential. The following seven areas calls for immediate research and that may not even attract huge investments to complete the research.

1. Real time monitoring of major electrolyte levels: 100% patients have muscle cramp and fatigue. It requires real time monitoring and measurement of major electrolytes. There are no machines available currently that monitors all the electrolytes at a real time. A small device that can be fitted to the dialysis machine to monitor and measure the electrolyte levels.

2. Oral Electrolyte formulation as per the monitored levels: Research is required to create one or multiple oral electrolyte formulation, which will be in three categories – mild, moderate and severe. That will ensure vast majority of patients coming out of a dialysis session without any fatigue or muscle cramp.

3. Control the level of Epotin by various methods: Erythropoietin is used to increase the Hemoglobin level. But the patients do get affected by the over use of Erythropoietin. A potential research is needed in this area to optimize the use of erythropoietin

4. Plumbing and Flow Dynamics reengineering: To reduce the risk of infections and contamination there is a tremendous requirement for research and reengineering with smart filtration and plumbing methods.

5. Compact Reverse Osmosis Unit: Normally RO plants are big. If we need to do a mobile clinic so that patients who cannot travel can undergo dialysis, a compact RO facility is required with high quality standards which can give better water quality than portable RO systems. A huge amount of engineering research is required for that.

6. Low cost highly efficient single-use dialyzer: The single use dialyzer cost should be brought down to $1 (US). We will have to work on the fibres/membrane. Is Polysulfone the right choice? The surface area, ultra filtration coefficient and absorption ability needs to be thoroughly researched. Furthermore, the ability and technique to replace the fibre membrane without replacing the cartridge holds the key.

7. Various other studies like optimum dosage calculation (pre, peri & post dialysis) for diabetic & cardiac patients. And various other researches on optimizations on medical management. A tremendous amount of research potential is awaited in these areas.

Written by – Partha Banerjee

Medical Emergency, A Challenge to third world

World is facing tremendous challenges on various fronts. Health is one of the most prime sector where huge investments are planned to tackle complicated health issues alongside the endemics or epidemics in third world countries. A recent episode in this segment was to tackle Cholera in south Sudan. Lack of availability of Cholera Vaccines was a huge threat to mankind. Countries like Ethiopia, Madagascar, Nigeria and many small island countries facing huge threat of managing medical emergencies due to huge gap in understanding, focusing and proactive planning of health care. This includes all Topical Diseases, Communicable and Non Communicable Diseases. 

Islanders suffer from Nephro toxicity as the water source carries impurities and sea fish carries mercury and other cancer causing heavy metals. Even world bodies like World Health Organization failed to take corrective measures primarily due to lack of data and analysis as majority never mapped the countries health record. Medical Record System is almost non-existing in these countries.       

Even preventive care is a focus area today as it is said to protect the organ before it’s start creating complicated issues. There is a need to innovate new molecules to prevent organ specific diseases or create a niche to ensure safety for all organs before it start creating medical complications.

Constant research in areas like finding new molecules, which offers better therapeutic efficacy and greater safety to tackle Diabetics or cardiac ailments are widely visible. Whereas, pharmaceutical research on Typhoid, Cholera, Tuberculosis, Malaria etc. has taken back seats in last decade. Issues like managing medical emergency though often a priority for small nations but in reality the concept does not exist. There are sporadic efforts from various NGOs and international health care organizations to eliminate communicable and non-communicable diseases.  There are hardly any efforts by NGOs to bring innovative molecules to tackle medical emergencies including endemic and epidemics in third world nations. Lack of resources, willingness and supports making it worse. Time has come to bring Electronic Medical Records, keeping sufficient stocks of essential medicines and deploy qualified medical manpower as these are the key determining factors before anyone plan to eradicate endemic and epidemic from the present heath care systems of third world countries. 

Written by – Partha Banerjee

Pharmaceutical Market: A Great Challenge for Small Payers

Health Care and Pharmaceutical Industry across the world is growing at a pace which even most progressive economists never anticipated. Pharmaceutical Industry is the “Sunrise Industry” even when entire world is under recession. Though there are more than 500000 pharmaceutical manufactures in the world but 250 players controls more than 90% of World’s Pharmaceutical Market (volume wise) that makes the World Pharmaceutical market more competitive. This allowed conservative experts to term the World Pharmaceutical Industry as most unorganized, fragmented and semi regulated.

World Pharmaceutical Industry sustained and constantly grown primarily due to

a) Huge sanitation & hygiene issues…so high prevalence of Invasive diseases in under developed and developing economies

b) Increased incidence of life style diseases

c) New inventions in Genetic and Degenerative areas

Today World Pharmaceutical Industry started behaving with more maturity where even degenerative and genetic disorders contributing a fair percentage of the market. Western Drugs & Industrial houses (small & mid size companies) started exploring other emerging markets where the competition is low, turnaround is faster, return is much better and steady & regulations are fairly low. So, on pharmaceutical business front it is wise to create a basket with ‘short term, mid term & long-term’ revenue earners. Meaning a basket should have Invasive, Genetic, Degenerative & Life Style related molecules for better sustainability in this highly competitive world pharmaceutical market. It is important to notice that due to excessive financial pressure, weak marketing efforts and lack of innovative molecules small to medium size pharmaceutical companies fail to grow in major markets in developed economies. This picture is different when it comes to ‘under developed and developing economies’ as these markets still continuing to grow due various other factors especially due to imbalance in ‘demand and supply’ ratio.

For small manufacturers to bring business success it is important for them to find out Niche areas and emerging markets for better sustainability.

Written by – Partha Banerjee