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Asia Pacific continues to be one of the fastest growing healthcare markets globally. The region contributes around 18 percent of the global revenues and is expected to reach 25 percent in 2010. Asia Pacific in general and India in particular is gearing up for a leadership role in the healthcare sector given the huge strides made in this direction. Fast economic growth, increasing economic and political stability coupled with tremendous potential, present new opportunities for global healthcare companies and hospitals.

Along with these opportunities has emerged a plethora of challenges. The functional challenges include effective disease management, win-win risk-sharing relationships between health insurers and healthcare delivery organisations, and changes in care to identify and incorporate evidence based medical practices in hospitals. A large number of semi-urban and rural areas are still out of the ambit of secondary and tertiary healthcare. Moreover the problematic intellectual property protection which has restricted the high market potential is a detractor for most multinational pharmaceutical companies. However, this is through increasing Healthcare Manufacturing, Healthcare Information Systems and Healthcare Delivery (patient) services.

This year’s Healthcare Conclave addressed all the above issues and many more. For the first time in the history of ISB this was a two day long event. It was a true reflection of the interest that this sector has been able to generate among students with both healthcare and non-healthcare backgrounds. Aptly titled “Healthcare and Pharma Conclave - Lens on Emerging Markets”, the theme aimed to capture the essence of the opportunities and challenges that the emerging markets, particularly India, are set to face in their quest for global stewardship. It highlighted the fact that Finance and IT have to come together for this goal to be achieved. It also provided an opportunity for participants to hear the views of industry leaders and interact with them.