Indian pharmaceutical companies achieve notable success in the global APIs market at CPHI & P-MEC India 2017. Discover their impressive strides here.
India has secured a notable achievement in the global APIs market competition, clinching a Bronze medal. The CPHI & P-MEC India event, organized by UBM, is poised to draw over 50,000 attendees, underscoring India’s strides in enhancing its pharmaceutical reputation. According to the CPHI Global Pharma Index, a comprehensive ranking system based on feedback from 500 international pharmaceutical firms across 40 nations, India has emerged as the third-ranked nation globally.
Amsterdam, Netherlands: The Index assesses the leading pharmaceutical economies on a scale of ten, offering insights from a broad spectrum of industry players.
These revelations come to light ahead of the 11th annual CPHI & P-MEC India 2017 slated for later this month in Mumbai (November 27 to 30, 2017). Concurrently, the second India Pharma Week (November 25-30, 2017) will feature seven events spanning the entirety of India’s pharmaceutical supply chain, capitalizing on Mumbai’s stature as a pivotal pharma hub. The trade exposition has expanded to encompass two exhibition centers—Bombay Exhibition Centre (BEC) and the MMRDA Grounds (BKC)—transforming from a three-day affair to a four-day extravaganza.
India has attained the second spot worldwide regarding the anticipated growth potential of the pharmaceutical market, achieving a praiseworthy score of 7.0, falling behind solely China, which scored 7.2. The respondents highlighted India’s robust domestic markets and burgeoning manufacturing exports as primary growth catalysts. Impressively, India’s potential outshines even stalwart Western European nations and the United States.
Furthermore, India has been recognized as the third most competitive destination for pharma businesses, garnering a score of 6.3, only surpassed by the United States (6.9) and Germany (6.6), while surpassing Japan and arch-rival China.
India’s concerted efforts to elevate pharmaceutical manufacturing standards are evidently bearing fruit. The industry perceives India’s ‘API manufacturing’ standards as on par with those of Italy, Spain, and Korea, though lagging behind tier-one nations like Germany and the United States.
A deeper dive into responses from domestic stakeholders reveals a striking confidence in the Indian market for 2018, with 80 percent expressing either ‘confidence’ or ‘extreme confidence’. Particularly noteworthy is the revelation from the CPHI report that 88 percent of Indian respondents are seeking collaborations with foreign partners in 2018, with foreign entities contributing an average of 50 percent to sales. The surge in exhibitor numbers by over 200 companies over the past year underscores this heightened international engagement, with the 2017 event featuring 1,400 exhibitors from over 100 countries.
Indian Pharmaceutical Companies
Indian Pharmaceutical Companies
Comments are closed.
