The Indian pharmaceutical industry continues to garner attention due to its impressive feats in securing regulatory approvals and executing ambitious growth strategies. Industry insiders remain highly encouraged by the sector’s promising trajectory.
Recognized for its significant potential in global healthcare, the Indian pharma sector is pivotal in the international economy. With a highly skilled workforce, state-of-the-art technologies, and a legacy of innovation, India is ready to reinforce its stature in the global market.
The sector is set for a transformative path, driven by innovation, targeted investments, and robust governmental backing, as experts express.
Thanks to initiatives like the production-linked incentive (PLI) scheme and the burgeoning adoption of digital technologies, the Indian pharmaceutical industry is experiencing robust growth.
Projected to expand tenfold in the coming 25 years, sectors such as biologics, large molecules, New Drug Delivery Systems (NDDS), and Complex Generics are set to thrive under the PLI-1 and PLI-2 schemes, comment industry authorities.
Experts suggest that India is rapidly emerging as the Vishwaguru or the global guiding force in innovative healthcare solutions. This extraordinary journey reflects not just statistical achievements but a tale of resilience, creativity, and the unyielding pursuit of excellence, they concur.
This progress, rooted in collaboration and innovation with an unwavering dedication to quality, ensures India’s prominence in delivering global healthcare solutions, they emphasize.
By tackling challenges, embracing technological advancements, and nurturing a culture of research and development, India is poised to cement its role as a global leader in pharmaceuticals. With a progressive outlook and collective efforts, the Indian pharma industry is prepared for remarkable growth in the years ahead, they observe.
Working closely, if the industry and government address regulatory complexities, rising costs, and enhanced R&D investments, the Indian pharmaceutical sector can continue to provide affordable, high-quality medications globally, expanding its reach, they note.
CPHI & PMEC India Event: A Catalyst for Industry Growth
As India ascends rapidly in the world of pharmaceuticals, the 17th installment of CPHI & PMEC India, orchestrated by Informa Markets in India, promises to offer unprecedented opportunities. Scheduled for November 26-28, 2024, at the India Expo Centre, Greater Noida, Delhi-NCR, the event will propel the flourishing pharmaceutical sector forward, providing significant benefits to sustain growth.
Renowned as a comprehensive one-stop platform for innovative, cost-efficient solutions, the expo will highlight the industry’s modernization, innovation, and sustainability initiatives.
Poised for a promising growth trajectory, India’s pharmaceutical sector is anticipated to achieve a $65 billion valuation by 2024, and further, up to $130 billion by 2030. CPHI & P-MEC India stands as a testament to this expansion, linking global and domestic stakeholders to showcase advancements in equipment, technology, and pharmaceutical ingredients.
Expected to welcome over 50,000 executives from over 120 nations within a 120,000-square-meter exhibition area, the event facilitates wide-ranging networking, material sourcing, and shared learning opportunities.
This year introduces the Start-up Pavilion, offering an engaging platform for emerging Indian start-ups to exhibit their innovations and talent.
With robust participation from international industry leaders and monumental support from key industry associations, CPHI & PMEC India remains a significant event, presenting a golden opportunity for the Indian pharmaceutical sector to thrive and make impactful strides in the global arena.