According to the report, the new legislation could create various pitfalls for partnerships and research projects as well as increase the fees for the cost of entry into the Chinese pharma market. The new ordinances come after another extensive cyber-security law, which was set in place last year, stating that data must be hosted on servers on the Chinese mainland.
Today the FDA will officially exempt individual genetic risk tests from 501(k) premarket approval with the condition that the company offering the test should have a one-time premarket review of its testing apparatus and at least one test.
Merck & Co, developer of Gardasil and Gardasil 9 which recently got approved by Chinese authorities, have earned millions of dollars for their Zhifei Biological Products. It has also spurred two Chinese families into Bloomberg’s ranking of the world richest people.
Niti Aayog is focusing on proposals to encourage domestic manufacturing of medical devices following orders from the Prime Minister's Office, said the expert. The meeting was focused on identifying the problems in local manufacturing and quality of the devices produced in India and also to spot the solution for the issues.
According to an estimate by SNS Telecom & IT, the present vibrant ecosystem is bound to trigger the growth of the mHealth market at more than USD 28 billion in 2018. In spite of impediments presented by regulation, patient acceptance and privacy concerns, the sector is expected to clock a CAGR of around 30 percent over the next three years.
Determined to cap the profits of private hospitals in Delhi and the NCR region, Delhi health minister Satyendra Jain has announced an array of new rules. He clearly stated that hospitals will be mandated to sell essential medicines at MRP and can no longer charge a markup.
The IVD sector in the country is chiefly characterized by 70 percent laboratories offering pathology services and 30 percent entities doling out radiology and imaging services. Though domestic players are flexing their muscles and are gearing to provide new-age diagnostic services with path-breaking innovations and strategic investments, multinational companies continue to hold sway over 60% of the domestic IVD market which is expected to grow by leaps and bounds in coming times.
Though the US stands first in the race in terms of sales and growth, it is highly believed that China would reach the peak in the pharma market by 2022. At present, since there has been a decrease in public health funding, there has been a slight fall in pharmerging countries like Brazil, Russia, India and China (BRIC). But it is believed that the condition of these pharmerging countries will improve in the next five years .
Anti-aging studies are still going on worldwide, in spite of having lots of good and bad consequences. During the 1950’s, scientists proved that the organs of older mice became healthier, by injecting them with younger blood. The scientists also found that aging was connected to only body and it’s ultimately the blood which directs aging.
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