John Pasapala
Hyderabad
Telangana is all set to become the health-tech Mecca of the world, Industries Minister KT Rama Rao said. He was inaugurating the 20th edition of ‘BioAsia 23,’ Asia’s largest Life Sciences and Healthcare programme on Friday.
“Technology has the potential to transform lives. The use of technology and the advent of AI will drive transformative changes in the way diseases are diagnosed and healthcare is delivered across the world. If we combine the engineering and the product talent we have in the large technology companies of Hyderabad and our deep knowledge of the life sciences domain, the possibilities are endless,” KTR said.
“The Hyderabad pharma ecosystem’s value has already touched USD 80 Bn in 2022. This represents a phenomenal ecosystem value growth of 23 per cent over the last two years compared to the national average of about 14 per cent. We had set an objective to double our ecosystem value to USD 100 billion by 2030, but given the current momentum, I am confident that we will achieve our target of USD 100 Bn by 2025 itself, five years ahead of schedule,” he added.
He said that the ultimate aim is to make Telangana, the knowledge capital of the world’s life sciences industry. He said that by 2030, the value of the life sciences ecosystem will cross USD 250 Bn.
He said that Hyderabad’s complex manufacturing base, research, development and innovation potential, the ability to build high-end, cross-value chain global capability centres and the convergence of healthcare and technology are the four pillars that will help the state achieve its goals.
He said that these four pillars combined with Hyderabad’s excellent infrastructure, logistics connectivity and world-class talent will make the city the most credible and secure ecosystem for global life sciences companies to function.
“Hyderabad is emerging as the most preferred location for life sciences focused (GCCs). In the next five years, we will position Hyderabad as a high-end GCC destination for the world’s leading life science companies. These efforts will help expand our knowledge capital beyond manufacturing to other parts of the life sciences value chain. Through our incubator programmes and access to deep computing resources, we will actively support start-ups that drive the convergence of healthcare and technology. I am confident that we will have a few global health-tech unicorns that will emerge out of this programme,” KTR said.
The 20th edition of ‘BioAsia 23,’ the annual flagship programme of the TS government, is themed ‘Advancing for ONE: Shaping the next generation of humanized healthcare.’
The UK is the partner nation for the forum and Slanders, the international region partner. Around 2,500 delegates from over 50 countries are attending the conference. The three-day event will continue till February 26.
