New Delhi [India], December 6 (ANI/PRNewswire): Informa Pharma Intelligence, one of the leading business intelligence providers and knowledge partners, concluded its involvement at this year's CPhIP-MEC Expo, a hybrid conclave hosted between 24th to 26th November 2021 at India Expo Centre - Greater Noida, New Delhi, and at the Online ConferenceNetworking event held between 15th to 30th November 2021.
The conclave witnessed participation from key influencers and leading figures across the pharmaceutical industry, and hosted domestic and foreign drug makers, contract service providers and pharma machinery players under one roof, providing them with a chance to craft future growth plans together.
India's pharmaceutical market is in the midst of a growth spurt, having increased in value from USD 21bn in 2016 to USD 29bn in 2020 - a figure that is expected to reach USD 41bn by 2024. Key industry drivers include a rise in disease prevalence, economic growth and higher disposable incomes, improvements in the healthcare infrastructure and growth in the number of people covered by health insurance.
In a bid to stay afloat during the need to step up the demand towards high quality, low-cost pharma solutions, CPhIP-MEC India has curated a gateway to network with industry peers for the latest trends and innovative solutions that the market has to offer.
The event is geared towards building pharma community engagements, network amongst the fraternity and source innovative solutions on-site from exhibitors who have footprints both domestically and globally and cover the entire pharma supply chain - from APIs, machinery, technology, packaging, outsourcing, finished products and biopharmaceuticals.
Alongside the expo, and under the aegis of the India Pharma Week, an exclusive and strategic closed door CEO Roundtable meeting took place, inviting the top leaders of India's pharmaceutical companies. The 'CEO Roundtable' was conducted on November 24 in partnership with Informa Intelligence, whose perspectives and key discussion points will also yield a white paper report.
The pharma industry is anticipated to have a steady growth trajectory and the event organised by CPhI India has focused on the key driving factors for the same. The expansion of medicine manufacturing pertaining to the evolving epidemiological profile of the country will be instrumental for India being the preferred drug manufacturing destination on a global scale. Additionally, the event aims to encourage the development of the research-based pharma fraternity.
Concluding the CPhI - P-MEC India show, Poornachandra Tejasvi, Senior Director, Emerging Markets, India, at Informa Pharma Intelligence, said, "We, at Informa Pharma Intelligence, were delighted to witness the overwhelming response at CPhIP-MEC India 2021 event and we're glad that we could partner with CPhI to host this common platform for the pharmaceutical industry. With challenges and opportunities evolving at a global scale, through this event we looked to discuss the possibilities for not only providing solutions to the healthcare needs of the country but also to the world. With India's strength in global generics market, Indian pharma and biotech companies are now gearing up to transition into RD and innovation to establish themselves as key players to develop Biosimilars, Novel Chemical Entities, Novel Biological Entities and Innovative Therapies for the global and Indian pharmaceutical markets, for which Informa Pharma Intelligence is closely partnering to aid in this effort. The event provided a great opportunity to reconnect with our stakeholders of the pharmaceutical world and offer data intelligence and analysis on par with the recent industry trends."Yogesh Mudras, Managing Director, Informa Markets in India, said, "The Indian pharmaceutical market is growing exponentially, around twice the world market growth rate. While its generics market is growing strong, it is also evolving into a cradle for new drugs. Therefore, with India being one of the strongest emerging markets in the global pharma industry, it presents great opportunities for all international pharmaceutical companies to explore; we are glad that the platform by CPhIP-MEC India could enrich the exhibitors with new pharma solutions and help businesses find the right partners, with the hybrid expo showcasing the full drug development supply-chain from exporting, outsourcing, manufacturing, machinery, regulations, pricing, and market access to, packaging, labelling, and digitalization. We look forward to hosting CPhI P-MEC in the coming year's again."CPhI India is a sister brand of CPhI Worldwide - A key event that all professionals from the international pharmaceutical and allied industries look forward to year on year. CPhI India and its co-located event, P-mec India, are the largest and most comprehensive pharmaceutical industry events in South Asia. This event is specifically important to the country as India is already known as the pharmacy of the world in addition to the vaccine manufacturing prowess showcased in 2019-2020.
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