Dilip Ghosh
Nutriconnect, Australia
Title: Pharmaceutical to nutraceutical: Paradigm shift in healthcare industry
Biography
Biography: Dilip Ghosh
Abstract
It is generally accepted worldwide that modern pharmaceuticals will remain out of reach of many people and “health for all” may only be materialized by the use of adequately assessed nutraceutical or phytomedicinal products. The human has been using food bioactive and/or herbal medicine for healing purpose from the beginning of human civilization. In recent times, use of herbal medicine for healthcare has increased steadily all over the world although it was neglected for decades by Western societies. However, the gaps in relation to the safety, claimed efficacy, and quality of herbal products used as herbal medicine, nutraceuticals, health foods, and cosmetics are being realized and addressed by many companies in their product development framework. The combination therapy of the pharmaceuticals and food bioactives in disease prevention and treatments is one of the most discussed topics in recent time.
The transition of the pharmaceutical industry from its traditional business model is ongoing and interesting to see how their next blockbuster molecule could be derived through different routes. It is proposed that the industry is challenged with three interrelated tipping points referring to what the industry sells (service models vs. therapies), to whom (mass markets vs. niche), and how it should organize itself (making connections vs. integration). The transition from current ‘high-risk, high-margin’ business model to ‘low cost high volume’ nutra business model is dependent on many factors and also advised to move into less regulated markets like animal and consumer health.
This presentation will cover:
- Paradigm Shift in Healthcare Industry: From Pharma to nutra
- Change of consumer focus: From illness to wellness
- Peripheral opportunities are also exist for managing chronic lifestyle diseases and ailments
- Combination therapy of pharmaceuticals and food bioactive in disease prevention and treatments
- “Health for all” target is only possible by the use of adequately assessed nutraceutical/phytomedicinal products.