Amsterdam, 22nd November 2019: CPhI & P-MEC India – organised by Informa Markets – is set to open its doors to more than 43,000 attendees from 120 countries and 1,500 exhibitors, as new analysis shows a massive improvement in India’s global reputation. The India-specific findings of the CPhI Annual Report highlight the significant jumps made by the country in many categories.
India showed the largest gains in terms of ‘perceived growth potential’ and ‘biologics knowledge’, proving that industry efforts to align standards more closely with the USA and Europe, as well as growth in biosimilars, have clearly been noted. But perhaps most significantly, these efforts are also being transferred into a reported increased confidence in outlook for 2020.
According to the Report, India is rated as having the second highest overall growth potential of any market globally. What’s more, it also boasts the second-best score for ‘competitiveness’, and a separate report by IBEF has found that Indian pharma companies are now forecast to see exports of $20 billion in 2020[1].
Survey respondents cited India’s ‘high-growth domestic market’ and ‘expanding manufacturing exports’ as the major drivers. The rise in exports growth potential is believed to be in response to concerted reforms by the CDSCO (Central Drugs Standard Control Organisation) and industry quality improvements in the last few years.
Such was the confidence in India’s pharma market, the nation was ranked second for the ‘overall competitiveness’ of its pharma industry. India scored an average of 6.61 (out of ten), placing it behind only the US (7.03) and just above Germany (6.47).
The Pre-Connect Congress and the daily series of Pharma Insight Briefings in the InnoPack Theatre will deliver topical analysis to keep the industry abreast of the biggest opportunities. The CEO Roundtable is expected to be another highlight of the event. This ‘closed door’ session will deliver the discussions and conclusions that help this market to enhance its position as a global superpower in the pharma world.
Encouragingly for deal-making at the event, the number of visitors and exhibitors signed up to take part in Live Pharma Connect the ‘Match and Meet’ service this year has doubled – meaning 2020 looks set to be a record-breaking year for pharma in India.
In addition, a key part of Indian Pharma Week is the ‘Women in Pharma’ Forum, which will celebrate the influential contribution of women executives in the pharmaceutical industry.
Finally, P-MEC India is again playing a key role in helping this burgeoning market advance by supplying the latest technologies and machinery. Globally there has been a tremendous push to lower the cost of healthcare, with an increased use of generics and a commitment to lower manufacturing costs, improve process R&D and reduce waste. The net result of these changes is fundamentally shifting the tools we use to develop, test and manufacture the drugs of tomorrow.
