Pharmaceutical industry in India to reach $130 billion by 2030: Industry Experts.
Hyderabad, 02nd June 2023: The 9th edition of PharmaLytica, a premier pharmaceutical exhibition, commenced with an unwavering commitment to adapt to the changing healthcare landscape, and meet dynamic patient and business requirements. Organised by Informa Markets in India, the three-day event is taking place at HITEX, Hyderabad, hosting over 150 exhibitors. Allied to South Asia’s largest Pharma event, the CPhI & P-MEC India show, PharmaLytica is expected to witness over 6000 domestic and international visitors from 16 countries and 21 Indian states, and approximately 250 delegates over the duration of the expo.
This event serves as a testament to India’s vision of becoming the pharmacy of the world, providing a platform that contributes significantly to achieving this ambitious objective. The future of pharma will leverage Robotics and Digitalization to a significantly high degree. These include the use of automated systems, data analytics, and cloud-based architecture, which attendees can witness at PharmaLytica 2023.
The Event had participation from key stakeholders from the Pharmaceutical Industry including Chief Guest Shri Jayesh Ranjan, IAS, Principal Secretary, Industries & Commerce Dept, Government of Telangana; R.K. Agrawal, National President, Bulk Drug Manufacturers Association of India (BDMAI); Harish Jain, President, Karnataka Drugs & Pharmaceutical Manufactures (KDPMA); Avinash Kumar Talwar, Vice President, Dr. Reddy’s Laboratories, Shankar Gupta, Chief Sales Officer, ACG; Yogesh Mudras, Managing Director, Informa Markets in India and Rahul Deshpande, Senior Group Director, Informa Markets in India.
Highlighting the importance of technology, Shri Jayesh Ranjan, IAS, Principal Secretary, Industries & Commerce Dept, Government of Telangana said, “The pharmaceutical, biotechnology, and medical devices industry in Telangana has experienced remarkable growth, surpassing initial expectations. Initially projected to reach $100 billion in ten years, the industry has already reached a substantial size of $80 billion, prompting a revision of the target to $250 billion. This buoyancy reflects the industry’s potential and highlights the need for the sector to showcase advanced and sophisticated technologies, moving beyond bulk manufacturing. The pharmaceutical industry plays a pivotal role as part of the government’s “Atmanirbhar” strategy, necessitating introspection and revaluation to propel further growth. Additionally, the increasing importance of Environmental, Social, and Governance (ESG) standards, driven primarily by European buyers, is shaping the future trajectory of the pharmaceutical sector. The industry must prioritize the integration of cutting-edge knowledge and technology into their processes, and participants in this exhibition will greatly benefit from the extensive showcase of advanced technology, equipment, and machinery.”
R.K. Agrawal, National President, BDMAI said, “The pharmaceutical industry is moving towards transparency and visibility, where maintain comprehensive and digitalized records becomes imperative to showcase processes, testing and manufacturing to regulatory authorities during audits. Further, automation and technological advancements contribute to increased efficiency and reduced reliance on manual labor. Despite a highly regulated industry, with approximately 30 Government Departments monitoring operations, the Pharma sector has embraced stringent pollution norms, resulting in improved conditions within pharmaceutical plants. Furthermore, the Indian Government’s supportive policies such as streamlining regulatory processes, promoting res…