Q: How has the experience been of organising a show like CPHI? What can pharma professionals hope to gain from visiting this coveted industry expo?
Answer: The CPHI & PMEC India Expo goes beyond being a conventional trade show. It forms an integral part of the esteemed ‘India Pharma Week’, a series of exclusive events crafted to captivate industry leaders and experts through diverse formats. Among these events, the Pharma Leaders Golf stands out as an occasion where approximately 40 esteemed pharma leaders convene for informal networking while enjoying a round of golf at the renowned Jaypee Wishtown Golf Course. This event creates a relaxed environment that facilitates connectivity and relationship building among industry professionals. The Pre-Connect Congress, a one-day gathering, attracts 150 pharma professionals and features 20 distinguished speakers. The congress focuses on critical discussions pertaining to smart manufacturing, innovations in pharmaceutical research and development, strategies for enhancing innovation, and attracting skilled professionals, among other relevant topics. The Pharma Leaders Roundtable is an exclusive, closed-door event that brings together senior leaders from prominent pharma companies. It serves as a strategic platform for thought-provoking discussions on strengthening pharmaceutical innovation, addressing unmet clinical needs, and embracing the possibilities offered by the next generation. The Women in Pharma event is a half-day program dedicated to uplifting female representation and fostering diversity within the Indian pharmaceutical landscape. It concentrates on formulating strategies and initiatives that empower women professionals in the industry. Pharma Talk serves as a hub for knowledge sharing, providing a platform to discuss new solutions, innovations, country-specific sessions, mergers and acquisitions, and sustainability in the pharmaceutical sector. Finally, the 10th edition of the India Pharma Awards acknowledges and celebrates excellence and innovation within the pharmaceutical space. This prestigious platform recognizes outstanding pharma brands for their notable contributions to the industry.
Q: Where, according to you, is the Indian Pharmaceutical Industry placed in the global map?
Answer: Indian Pharmaceutical Industry is known for its generic medicines and low-cost vaccines globally. Transformed over the years as a vibrant sector, presently Indian Pharma ranks third in pharmaceutical production by volume. The Pharmaceutical industry in India is the third largest in the world in terms of volume and 14th largest in terms of value. The Pharma sector currently contributes to around 1.72% of the country’s GDP.
According to a recent EY FICCI report, as there has been a growing consensus over providing new innovative therapies to patients, the Indian pharmaceutical market is estimated to touch USD 130 billion in value by the end of 2030. Meanwhile, the global market size of pharmaceutical products is estimated to cross over the USD 1 trillion mark in 2023.
The Indian Pharmaceutical Industry is currently ranked third in pharmaceutical production by volume after evolving over time into a thriving industry growing at a CAGR of 9.43% since the past nine years. Generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research & manufacturing, biosimilars, and biologics are some of the major segments of the Indian pharma industry. India has the most number of pharmaceutical manufacturing facilities that are in compliance with the US Food and Drug Administration (USFDA) and has 500 API producers that make for around 8% of the worldwide API market.
Q: What trends and innovations do you see in the Indian Pharma Packaging Industry?
Answer: Customer centric designs are trending and driving the market. Pharma companies are now investing in material research, sustainable packaging, innovation in design and easy dispensing system. A key feedback from the packaging community is the need for harmonisation of packaging across the regions. At this age of customer awareness and technology, same drugs don’t have to be packaged differently for different market. Ensure drugs are packaged same across different geographical regions, address the key issue of lack of packaging material availability in local market and also optimise manufacturing and increase the margins.
Q: What are your views on the current market scenario of pharma technologies in India and its growth drivers?
Answer: The Pharmaceutical Industry in India has shown tremendous progress in terms of infrastructure development, technology base and a wide range of products. The industry has developed GMP Certified facilities to produce different dosage forms. India also has the second-highest number of USFDA approved facilities and labour costs in India are lower than other manufacturing hubs by up to 40%.
Transformative technologies such as e-commerce, artificial intelligence, machine learning, blockchain, etc. are reshaping the pharmaceutical industry in India. It is necessary today to adopt successful technologies and develop new process technologies to enhance India's competitiveness in Pharma manufacturing and rival or surpass technologies those employed by competing economies.
With successful deployments and case studies of such innovative technologies across the globe and other industries, pharmaceutical companies who are traditionally slow to adopt new technologies are certainly getting the much-needed support to drive growth, initiate new changes, and work towards the betterment of public health through better products and solutions.
These innovations help the Pharma Industry to enhance reach, meet unmet clinical needs, and embrace the next generation of possibilities.
Q: Going ahead, what are your future plans on growing and expanding the CPHI & PMEC India?
Answer: In the years ahead and in addition to existing business opportunities, influential marquee events helmed by industry leaders, experts, and policymakers such as The Pharma Leaders Golf, Pre-connect Congress, India Pharma Awards, Pharma Leaders Roundtable, Women in Pharma, Sustainability Lounge and Pharma Talks are set to further raise the bar for the sector. As India shines brightly, this gala pharma showcase will present an alluring avenue to celebrate together and continue to set new trends, innovate, adapt, and explore opportunities.
As we move forward, our vision for the growth and expansion of CPHI & PMEC India involves a multi-faceted approach. We plan to enhance our reach and impact through:
These strategies align with our vision to not only grow in scale but also to provide an influential and impactful platform for industry professionals worldwide.