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Wound Care Management

The wound care management market in emerging economies is forecast to grow from $722.9m in 2009 to $906.6m by 2016 with a Compound Annual Growth Rate (CAGR) of 3%. The wound care management market of China is the biggest market in terms of market size and accounted for about 49% of the total revenue of the wound care management market in 2009. China and India will continue to witness high growth, mainly because of the high elderly population and the increase in awareness of advanced wound care products. The wound care management market in India is forecast to grow from $148.2m in 2009 to about $179.7m by 2016 with a CAGR of 3%.

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The wound care management market in China was valued at $355.4m in 2009 and is forecast to grow at a CAGR of 3% to reach $448.7m in 2016. China is the biggest market, contributing 49% towards to the emerging economies wound care management market in 2009. The demand for advanced wound care products in China is mainly driven by high population growth, increased lifestyle disorders and high awareness of advanced wound care products.

Type II Diabetes is one of the most common causes of chronic wounds in emerging economies. In future the diabetes and other lifestyle diseases are going to replace infectious diseases and malnutrition as the main cause of morbidity and mortality in emerging economies. According to the World Diabetes Foundation (WDF), an estimated 285 million people or 6.6% in the age group 20-79 will live with diabetes in 2010. In this total diabetic population, 70% of patients live in emerging economies. Globally in the next 20 years, the number of diabetic patients is expected to increase by more than 50%. In this patient population the largest increases will take place in emerging economies. In emerging economies, many people with diabetes are unaware of the importance of routine foot care. The increasing diabetic population, chronic wounds and a long healing process are expected to drive the wound care management market in the emerging economies.

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Pharmaceutical Project Management

Major pharmaceutical companies rely on intensive drug development exercise in order to face competition and grow. Drug development is costly consumes time and unpredictable. The matter becomes worse for a company whence patent runs out and generic competition begins. Being R&D intensive the revenue flow out is substantial. There is increasing pressure on drug companies to reduce cost and come up with new drugs in order to compete in the markets.

The industry is facing challenges in product discovery, development and subsequent manufacture. This is where efficient project management provided by outsourced firms comes into the picture.

Phenomenal amount of investment is required for drug development and promotion. Subsequently the number of new products entering the market is decreasing rapidly. Hence strategic planning has become imperative for pharma majors. This calls for a new manner in which projects are managed. But it is important to optimize process with regulatory framework. The safety requirements have to be paid heed as well.

Most of the drug development activity is being outsourced to countries like India. Expertise in project management from pharmaceutical consultant is the need of the hour. They are better able to handle specific issues. There expertise leads them to a proactive approach.

Outsourcing drug development contract research through project managers benefits the companies. They take advantage of the strength of the organizations. Proper and careful project management is a prerequisite if advantage is to be gained through collaborations.

In project management the weight age is on marking out the co relation between various process for starting, planning and successful completion of the projects. On many instances projects fail due to the inefficiency of the project managers.

The newly developed products are highly expensive and their consumptions is limited to developed countries. Never the less developing economies like India and China will provide larger scope for marketing these drugs.

With technology transfers and contract research being outsourced to third World countries and small players there should be more producers of new drugs. The paradigm shift is required in order for the industry to survive and produce new drugs for the service of the people.