UBM India Presents 6th Edition of the PharmaLytica Expo to be held First in Mumbai on 10th-12th June 2019
India among the top position in the global pharmaceuticals sector and the largest provider of generic drugs globally
Recently Fitch Ratings, one of the credit rating agency said rising revenues in the the domestic market has helped Indian pharma companies counterbalance the ongoing pricing pressure on generic drugs in the US in the financial year ended March 31. Many of the leading pharmaceutical companies reported double-digit growth in their domestic sales which in turn supported overall industry growth of 11 percent during FY19, the rating agency added and it expects continued growth in the domestic market, supported by the government's focus on enhancing access to healthcare to economically weaker sections of the society.
The expo will enable the pharmaceutical community to pick up on the latest industry trends, innovations and conduct business with Analytical, Laboratory, Machinery, Packaging, Pharma ingredients and other allied Industries. The expo is well supported by associations including Pharmexcil, Confederation of Indian Pharmaceutical Industry (CiPi) and Indian Drug Manufacturers’ Association ( IDMA ).
In the current edition, PharmaLytica will witness the participation of over 300 exhibitors from across the country including notable industry players, many of whom are making their maiden showcasing at Pharmalytica. Some of the exhibitors include Elmach Packages, Shimadzu, Dockweiler AG, Micronclean, Rotarex, Bruker India Scientific, Sartorius, Schott Kaisha, Gattefosse, Perkin Elmer; Thermolab Scientific Equipments, Nicomac Cleanrooms, Mack Pharmatech, Gangwal Chemicals; Kirloskar Pneumatic, Swati Spentose, Borosil Glass Works, Accupack Engineering, NPM Machinery, Toshvin Analytical, Spinco Biotech, Scientific Research Instruments, LP Global, Bitzer India and Anton Paar among others.
Currently India enjoys an important position in the global pharmaceuticals sector and the largest provider of generic drugs globally. The country’s pharmaceutical industry is expected to expand at a CAGR of 22.4 per cent over 2015–20 to reach US$ 55 billion. India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and have reached US$ 15.52 billion in FY19 (up to January 2019). India is among the leading global producers of cost-effective generic medicines and vaccines, supplying 20 percent of the total global demand by volume. The country has an established domestic pharmaceutical industry, with a strong network of 3000 drug companies and about 10,500 manufacturing units.
The various economic drivers and government policies like pharma parks, allowing 100 percent FDI, boosting the biosimilars and biologics the sector, along with ancillary sectors, and reducing manufacturing costs are the key driving factors for the growth of the sector in the country. The ‘Pharma Vision 2020', introduced to make India a global leader in end-to-end drug manufacturing has also boosted investments.
Speaking on the announcement of the 6th edition of PharmaLytica, Mr. Yogesh Mudras, Managing Director, UBM India said, “Over the years, PharmaLytica has evolved as the leading marketplace for products and services along the entire value chain in niche segments within the Pharma industry. This year, we are delighted to move the expo to Mumbai to leverage the proliferating pharma hub of West India in addition to the Southern market. By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and the 6th largest market globally in absolute size. The pharma companies are making tremendous efforts to discover new drugs, increasing R&D expenditure, implementing technology and introducing new methodologies to improve quality of manufacturing,” he further added.