By 2020, according to Frost & Sullivan, healthcare expenditure in the APAC will increase 151 percent over 2010 figure, to $2927 billion at a compound annual growth rate of 9.2 percent.
Factors such as increasing population, per capita income, prevalence of lifestyle diseases due to rapid urbanization, apart from cost factors, are aiding growth. However, the opportunities come with a set of challenges, some of which are unique to the region. The APAC is characterized by diverse therapeutic segments, different and complex regulatory laws and a fragmented market, and the global economic crisis has added a new layer of complexity to the already challenging environment.
Originally published here.
BioSpectrum identifies 10 challenges that are common to the region and are likely to be hurdles in the industry’s progress. Cultural Diversity Critical Mass Policy Issues Raising Capital Human Resouces Regulatory Issues Currency Fluctuation Partnering Price Sensitivity Credible “midsize” CROs.
Regulatory challenges in APAC include a major challenge in India of having an effective mechanism for dealing with the government, given its active responsibility in taking funding decisions, regulating healthcare services, and deciding policy issues, including the most crucial ones regarding intellectual property rights. “In China, companies need to pass many hurdles such as complicated regulatory framework and a lengthy process for getting a product registered and then getting it added to the national reimbursement list,” he adds. In Australia, he says, the challenge for pharmaceutical companies “is the upcoming patent expiration for drugs developed in the 1980s and replicating those profit streams”.
More about regulatory challenges in APAC can be read here.
Full Article can be read here: 10 challenges for businesses in APAC
Rahul Dev, Partner at the law firm of Tech Corp Legal LLP, is a patent attorney and international technology business lawyer. Dev’s corporate law practice is aimed at integrating patents, technology laws, intellectual property rights, regulatory and security laws to provide services to FinTech companies.
Patent Drafting and Writing Strong Patent Applications for Creating & Protecting Inventions
Patent Application Writing Guide | Ultimate Cheat Sheet for Drafting Software Patents and Mobile App Patents
Patents in MedTech – Online Healthcare & Medical Practice Management
Patent Research & Analytics | Where Patent Analytics Are Headed – Harnessing Power of Patent Analytics for Patent Strategy
Frequently asked questions (FAQs) | Drafting and Writing Provisional & Non-Provisional Patent Applications (Specifications)
How and Why are Patents Important for Technology Companies & Startups In Asia?
How can Patent Search help in determining Patentability of Invention?
What are advantages of Filing a Provisional Patent Application?
We, at Tech Corp Legal LLP, an Indian law firm serving global clients and patent attorneys worldwide, provide quality patent drafting services to inventors. Along with patent support services provided by GIP Research, we offer top quality patent specification drafting services including enforceable patent claims and high quality patent illustrations.
Our team of patent attorneys and technical patent experts has comprehensive experience in executing projects pertaining to international patent drafting, patent drafting services, drafting patent claims and patent applications, software and mobile app patents, provisional and non-provisional patents, patent searches, office action responses, etc.
Rahul Dev is a Patent Attorney & International Business Lawyer practicing Technology & Corporate Laws. He is reachable at info (at) techcorplegal (dot) com & @rdpatentlawyer on Twitter
Frequently asked questions – Patents, Technology & Internet Laws
To get in touch with us, please click here.
View our presentations here.
Engagements: Contractual Consulting, Hourly, Project Based
Contact Mode: LinkedIn or directly message here
This is not a legal advice: Disclaimer, Non-Solicitation & Liability
Patent Basics and Intellectual Property Rights from Rahul Dev
Download free ebook for “Drafting Website Terms and Conditions – Important Legal Considerations”