PharmaLytica 2024: Charting India’s pharma’s path to US $130 billion by 2030

New Delhi: The 10th edition of PharmaLytica, organized by Informa Markets in India, commenced at HITEX, Hyderabad, focusing on redefining the pharmaceutical industry in the post-COVID era.

PharmaLytica 2024 witnessed one of the largest gatherings of industry experts, technical heads, quality control and clinical researchers, purchase and packaging professionals, policy advisors, and other key stakeholders.

The special inauguration ceremony was marked by the presence of key dignitaries such as Ravi Uday Bhaskar, Director General, Pharmexcil; AVPS Chakravarthi, Ambassador – World Packaging Organisation & Board Member, Pharmexcil; Orhan Yalman Okan, The Consul General, Consulate General of Turkey, Yogesh Mudras, Managing Director of Informa Markets in India and Rahul Deshpande, Senior Group Director, Informa Markets in India.

Highlighting the significant growth of Pharmaceutical Industry, Ravi Uday Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil), said “During the pandemic and post-pandemic period, the Indian pharmaceutical industry made significant contributions. We exported USD 27.8 billion worth of drugs in the financial year 2024,
achieving a 9.6% growth rate despite numerous global challenges. We are expecting to reach more than USD 31 billion in the next financial year. 50% of our exports are going to highly regulated markets. In North America and Europe, it’s almost 55%.”

“In the US, we exported more than 8 billion with a 15% growth rate, and to the UK, we achieved a 21% growth rate. This demonstrates the robust growth of the Indian pharmaceutical industry, even in challenging situations. As long as India continues to manufacture quality drugs at affordable prices, the industry will remain unmatched,” added Bhaskar.

AVPS Chakravarthi, Ambassador, World Packaging Organisation & Board Member Pharmexcil, said, “Pharmalytica has grown into a permanent landmark of innovation in the pharmaceutical industry from Mumbai to Bangalore and now Hyderabad. In life-saving and life-sustaining industries, there’s no room for compromise on quality. Our exports to highly regulated markets like the USA, where over 50% of our products are consumed, reflect our
uncompromising standards.”

Speaking on the sidelines of inaugural, Dr Gaurav Pratap Singh, Senior Principal Scientific Officer, Indian Pharmacopoeia Commission said, “India’s reputation as the ‘Pharmacy of the World’ is well-earned, with our commitment to supplying high-quality and affordable medicines globally. Our leadership in vaccine supply to WHO, coupled with meeting the generics demands of the USA, Britain, and Europe, underscores our pivotal role in healthcare accessibility. The significant growth in biosimilars approvals and manufacturing further enhances patient access to biopharmaceuticals. With strategic investments in developing generic and biopharmaceutical versions, India stands poised to maintain its global pharmaceutical leadership. Innovation remains paramount, especially in emerging prophylactic and therapeutic products like medical devices, complex generics, monoclonal antibodies, and gene therapy.”

Addressing the opportunities in this sector, Yogesh Mudras, Managing Director, Informa Markets in India said, “In 2024, the Indian pharmaceutical industry remains a global leader across the entire supply chain. It ranks third in production by volume and in terms of Active Pharmaceutical Ingredients (APIs) globally. With over 500 different APIs manufactured domestically, India contributes 57% of APIs to the WHO’s prequalified list. The medical devices sector in India stands at a market size of US$ 11 billion. By 2032, the India analytical laboratory instruments market is projected to hit $4142.85 million, propelled by the government’s focus on boosting production, notably supported by the flourishing pharmaceutical sector.”

This year’s edition saw participation of over 8,000 visitors and more than 200 exhibitors showcasing 1000+ brands.  They reaffirmed the need and focus of PharmaLytica as an industry event to boost and facilitate the pharmaceutical sector.  Key exhibitors include Hetero, Emvee Engineers, Schneider Electric, Integrated Cleanroom Technology, Nicomac Taikisha Clean Rooms, HLE Glascoat Ltd, Scientific Research Instruments Company, Ami
Polymer and many more. The expos are primarily supported by industry associations such as BDMAI (Bulk Drug Manufacturers Association (India), FOPE (Federation of Pharma Entrepreneurs) and IPC (Indian Pharmacopoeia Commission). Additionally, Telangana Life Sciences serves as a supporting partner, while ETRIC is the e-mobility partner for the event.

On the sidelines of the show, an exclusive two-day conference with the theme “Optimizing Pharmaceutical Quality and Compliance,” convened with over 35 key industry leaders engaging in strategic discussions about the future of the pharmaceutical sector. On the 1st day, experts delved into technology trends aimed at maximizing pharmaceutical productivity, explored analytical advancements transforming pharma labs, and discussed regulatory and quality frameworks essential for biosimilar development. They also covered strategies for drug repositioning, integrating quality in clinical development, innovations in pharma packaging and machinery, and advancements in analytical instrumentation.”