India have strongest global growth in 2019

CPhI & P‑MEC India – organ­ised by UBM – is set to open its doors to more than 40,000 atten­dees from 120+ coun­tries and 1500 exhibitors, as new analy­sis shows a mas­sive improve­ment in India’s glob­al rep­u­ta­tion. The India spe­cif­ic find­ings of the CPhI Annu­al Report high­light that India has seen sig­nif­i­cant jump across all (six) cat­e­gories, improv­ing its over­all score by a mas­sive 11.06% in a sin­gle year.

The coun­try showed the largest gains in terms of per­ceived ‘qual­i­ty of API’ and ‘fin­ished prod­uct’ man­u­fac­tur­ing, prov­ing that indus­try efforts to align stan­dards more close­ly with the USA and Europe have clear­ly been not­ed. But per­haps most sig­nif­i­cant­ly, these efforts are also being trans­ferred into report­ed growth poten­tial for 2019, with India fore­cast to grow faster than all oth­er major phar­ma economies, scor­ing an aver­age of 7.16 – plac­ing it ahead of the USA (7.04) and Chi­na (6.81). 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 joint sec­ond for ‘over­all com­pet­i­tive­ness’ of its phar­ma indus­try. India scored an aver­age of 6.53, plac­ing it behind only the US (6.98) and lev­el with Ger­many (6.53). In addi­tion to this, India saw the largest per­cent­age shift in score for qual­i­ty of fin­ished for­mu­la­tions, improv­ing by 14.72% since 2017. Most impres­sive­ly, should the same change be seen in 2019, the country’s rep­u­ta­tion for fin­ished prod­uct man­u­fac­tur­ing will like­ly see it achieve par­i­ty with many Euro­pean nations (who’s scores have remained the same year-on-year) – a dra­mat­ic improve­ment on just a few years ago.

With these huge­ly pos­i­tive results as its back­drop, the 12th Annu­al CPhI & P‑MEC India will take place on 12th-14th Decem­ber 2018, along­side India Phar­ma week (9th- 14th Decem­ber). To help fur­ther dri­ve for­ward the market’s growth poten­tial, the event has moved to the Indi­an cap­i­tal, tak­ing place at Delhi’s India Expo Cen­tre, Greater Noi­da, and will return to sin­gle venue for­mat. These changes are expect­ed to bring a wider inter­na­tion­al audi­ence, help more close­ly inte­grate vital reg­u­la­to­ry path­ways into the events con­tent, and allow an even more diverse cross-pol­li­na­tion of part­ner­ships – mean­ing vis­i­tors can meet with API sup­pli­ers, dis­trib­u­tors, con­tract providers and machin­ery spe­cial­ists all in the same morning.

High­lights from this year’s phar­ma con­nect con­gress include ses­sions on top­ics as diverse as ‘trans­form­ing the phar­ma indus­try archi­tec­ture through col­lab­o­ra­tions’, ‘strate­gies to strength­en reg­u­la­to­ry poli­cies in India’, ‘effi­cient clin­i­cal tri­al data man­age­ment’, ‘win­ning with biosim­i­lars’ and ‘lever­ag­ing lat­est inno­va­tions in tech­nol­o­gy’. Final­ly, this year will also fea­ture the third annu­al Women in Phar­ma Sum­mit, which will deliv­er keynote address­es and pan­el dis­cus­sions revolv­ing around lead­er­ship, entre­pre­neur­ship and gen­der diversity.