Highlights
SUMMARY
India’s investment in R&D stands at 0.64% of its GDP, significantly lower than China’s 2.41%, the US’ 3.47%, and Israel’s 5.71%. The insufficient funding in R&D has a detrimental effect on the Indian healthcare ecosystem, hindering the progress in developing new drugs, medical devices, or treatments. Philanthropic organisations are in a prime position to enhance advocacy efforts, highlighting the crucial role of research in health advancement.
Biomedical research has been instrumental in achieving numerous medical breakthroughs, forming the scientific foundation for new treatments, medical technologies, and public health policies. Currently, India faces a triple burden of disease, comprising infectious diseases; the rising challenge of non-communicable diseases (NCDs) due to lifestyle changes; and the emergence of new pathogens that trigger epidemics and pandemics. The biomedical research landscape in India is at a pivotal point, crucial for meeting the healthcare needs of its population.
Existing R&D Investment Ecosystem In India
India’s investment in R&D is at 0.64% of its GDP, unlike China, which invests 2.41%, the US at 3.47%, and Israel at 5.71%. In the interim budget revealed on 1 February, the government announced a corpus of INR 1 Lakh Cr to boost research and innovation across the country.
The growth of R&D in India is notable, with the Gross Expenditure on Research and Development (GERD) rising from INR 6,01,968 Mn in 2010-11 to INR 12,73,810 Mn in 2020-21. However, the private sector contributes just 36.4% of the GERD in India, which contrasts sharply with the contributions of China at 77% and the US at 75%. Considerable investment is still necessary within the healthcare sector to promote innovative and cost-effective solutions.
The Impact Of Low R&D Investment On India’s Healthcare Delivery
The lack of funding for R&D directly affects the Indian healthcare landscape, restricting the ability to develop new drugs, medical devices, or treatments that may depend heavily on foreign innovations, which may not always align with local needs.
Without adequate investment in clinical research, India risks failing to establish a robust network of highly trained scientists and medical professionals capable of driving biomedical innovation. This could lead to delayed access to lifesaving advancements. Increased investment in R&D for drug development, healthcare, and biomedical devices can significantly reduce reliance on imports instead of fostering exports.
Encouraging domestic innovation and manufacturing can enhance self-sufficiency in medical devices and pharmaceuticals, thereby minimising dependence on imported goods. This strategy also fosters economic growth by supporting local industries and creating high-value employment opportunities in the biomedical sector.
How Philanthropy Can Accelerate Innovation
The development of a new drug from inception involves substantial seed funding and requires the collaborative efforts of multiple scientists across various stages. Philanthropic support can fill this funding gap, supplementing the roles of government bodies and the private sector. Private donors and philanthropic organisations possess the requisite resources, patience, and intent to finance early-stage research, enhancing governmental initiatives and addressing existing deficiencies.
With philanthropic investments focused on India, research into diseases and conditions prevalent in the region can receive vital support, enabling a targeted, effective approach to public health. Additionally, sizable donations from notable High Net-worth Individuals (HNIs) can raise public awareness, attracting broader funding towards research initiatives.
These philanthropists can serve as role models, inspiring and educating their peers on investing in science and research.
Multi-Sectoral Collaboration In Biomedical Innovation
Addressing India’s healthcare challenges necessitates a multi-sectoral perspective, fostering partnerships among government entities, private enterprises, academia, and philanthropists. Creating an ecosystem that encompasses institutes, incubators, and industry players can enhance collaboration in the biomedical sector, accelerating translational research that leads to the development of therapies, diagnostics, medical devices, and other healthcare products.
In this context, philanthropic organisations can effectively connect diverse sectors to amplify their impact. Collaborative efforts between philanthropic organisations and academic institutions can establish centres of excellence focusing on urgent healthcare issues, such as tuberculosis, cardiovascular health, and maternal well-being.
Moreover, interdisciplinary collaboration ensures scientific innovations transition into practical applications within healthcare systems. India has made significant contributions to vaccine development, notably with a fast response to COVID-19, ultimately influencing global health outcomes. The nation has also produced vaccines fundamental to global immunisation efforts against diseases like hepatitis B. The financial strength and networking ability of philanthropic organisations can address issues surrounding access, affordability, and inclusivity in healthcare services and innovations.
Bringing Awareness To Funding For Biomedical Innovation
A further obstacle in increasing R&D investment is the low public and institutional awareness regarding the significance of biomedical research. Philanthropic organisations are exceptionally positioned to advance advocacy efforts that highlight the importance of research in healthcare advancement.
By elevating awareness among policymakers, industry leaders, and the public, philanthropic initiatives can catalyse interest in biomedical innovation. Philanthropists can also align funding with national priorities, ensuring research projects target the most pressing health challenges faced by India. Media campaigns may also be employed to showcase success stories in biomedical innovation.
Innovative fundraising techniques, such as crowdfunding, have shown promising outcomes, enabling contributions from individuals irrespective of geographical limitations or socio-economic backgrounds. This model can be expanded to democratise funding for biomedical research in India.
Additionally, enhancing the capabilities of scientists to convey their research, promoting entrepreneurship in the sector, addressing laboratory-to-market challenges, and engaging with state governments on local issues can cultivate a culture that appreciates scientific inquiry throughout the country.
It is essential for philanthropic funding to focus on encouraging young individuals at the school and graduate levels to pursue careers in science and research, thus fostering entrepreneurship that aligns with India’s self-reliance and Viksit Bharat objectives. Philanthropy has the potential to significantly accelerate innovation by funding research initiatives, connecting relevant sectors, and heightening awareness among key stakeholders regarding the necessity of biomedical research.
