According to Amit Chopra, MD, VP/GM Thermo Fisher Scientific, India & Middle East, the Indian government has kept an ambitious target of turning the country into a worldwide leader in end-to-end drug manufacturing.
Thermo Fisher Scientific is an American biotechnology product development company, with revenues of more than $20 billion. The company helps its customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity.
According to Amit Chopra, MD, VP/GM Thermo Fisher Scientific, India & Middle East, the Indian government has kept an ambitious target of turning the country into a worldwide leader in end-to-end drug manufacturing. “The demand for our offerings including analytical instruments, specialty diagnostics equipment, life sciences solutions, and laboratory products and services is bound to grow,” he tells Sudhir Chowdhary in an interaction. Excerpts:
What are the broad focus of activities for Thermo Fisher Scientific?
Our source of inspiration since inception has been to enable our customers to make the world healthier, cleaner and safer. The company operates primarily through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services which caters to various markets, such as pharmaceutical and biotech; academic and government; healthcare and diagnostics; as well as industrial and applied.
The value that we deliver to customers is because we can combine different scientific disciplines to develop work-flow solutions. Our solutions help our customers to efficiently discover and develop new drugs, improve patient care and bring forth most sophisticated analytical tools to create more impact through their work.
What initiatives is Thermo Fisher Scientific putting in place to expand its presence here?
In India, we have established a Chromatography Centre of Excellence in Ahmedabad, to support the customers on method development and to provide faster solutions for their complex R&D and quality problems. Our demonstration centres in Mumbai, Bangalore and Gurgaon and training centre at Nasik are also accessible for stakeholders seeking to choose the right technologies. We also have state-of-the-art clinical trial facility at Ahmedabad offering world-class services for our Indian and international customers.
Our manufacturing facilities at Chakan offer customised and integrated solutions for environment and process monitoring. We also have our Centre of Excellence for software and cloud technology development in Bangalore and R&D centres in Hyderabad and Bangalore which are actively engaged in developing cutting edge technology for our markets.
Apart from this, in 2017, globally we have spent nearly $900 million on research and development, to facilitate our customers in achieving their goals for innovation and productivity. As more and more of our global customers invest in India, we seek to strengthen our partnership with key customers in India and offer them complete work flow solutions, through our entire portfolio of technology and services.
What is the size of the laboratory analytical instruments market in India? Any market estimates?
Growth of the pharmaceutical industry coupled with implementations of government mandates and regulations for controlling air and water pollution is driving the analytical instrumentation markets worldwide, more so in emerging economies like India, China and other BRICS nations. As per the data published by Frost & Sullivan, the Indian laboratory analytical instruments market is estimated to be $2.37 billion in 2018. Upsurge in R&D investments by the Indian government is also driving the analytical instruments market in the country.
What are the key trends in the Indian life sciences market that will drive growth for your business?
India’s life science and healthcare industry is one of the fastest growing sectors and has changed dramatically in the last decade, moving from import dependency to self-sufficiency. The country has become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostics facilities.
The government has kept an ambitious target of turning the country into a worldwide leader in end-to-end drug manufacturing. The government plans to give a boost to the industry by establishing drug testing laboratories near every major seaport and airport in India. Given these scenarios, the demand for our offerings including analytical instruments, specialty diagnostics equipment, life sciences solutions, and laboratory products and services is bound to grow.
What have been the recent innovations at Thermo Fisher Scientific that makes life safer and easier for patients?
Continued focus on accuracy, speed and cost of healthcare is accelerating demand for new diagnostics that help doctors get the right answer to a patient, faster. Our specialty diagnostics innovation meets growing demand for a range of rapid, sensitive and cost effective tests, including monitoring for opioid abuse, sepsis screening in the emergency room and the diagnosis of autoimmune diseases.