Updated on 3 January 2013
"The potential for research to have implications on the diagnosis and treatment of diseases has spurred technology development towards faster, more sensitive, cheaper research tools," said Ms Tan. "Expeditious, more cost-effective research leads to shorter timelines between biomarker discovery and the development of tests and therapeutics, and thus, better patient outcomes."
Supporting the prediction, Mr Arindam Sen, CEO, Advanced Micronic Devices, suggested that the diagnostic industry will witness a major trend where standalone diagnostic centers would become obsolete, comprehensive set-ups will be on the rise and specialty diagnostic centers that provide one-stop solution for all kinds of tests will gain popularity.
Another area where Asian emerging companies have shown their fierce approach is biosimilars. IMS Healthcare shares that in the first half of 2011, biosimilars market was valued at $378 million, and the number is expected to touch $1.9 billion-$2.6 billion by 2015, reflecting that a lot of action will be taking place in 2013.
Now that India and China have developed their own regulatory pathways to manage the approval of biosimilars, they have lowered the barrier of clinical trial requirements and regulatory control. This enables local manufacturers to enter the pharmerging markets on a more level playing field, pointed out IMS Health.