Hey there, pharma enthusiasts! Get ready for the ultimate pharmaceutical extravaganza at the PHARMMAEX Expo 2024 in Pune, India. This two-day event, happening on June 21-22 at the Auto Cluster Exhibition Centre in Pimpri-Pune, will showcase the best of the Indian pharmaceutical industry with a focus on third-party manufacturing and PCD franchises.
With over 150 exhibitors and expected attendance of more than 10,000 professionals, PHARMMAEX Expo 2024 is set to be a game-changer in the industry. The event comes at a time when the domestic pharmaceutical industry is on the rise, projected to reach $57 billion by FY25 with an increase in operating margins.
A recent report by CareEdge Ratings highlights the robust growth of the Indian pharmaceutical sector, with a CAGR of 6-8% from FY18 to FY23. This growth is driven by a significant increase in exports and a rise in the domestic market, showcasing the industry’s resilience and strategic expansion.
Director of Devasya Media, Shivam Sharma, emphasized the importance of PHARMMAEX Expo in fostering collaboration and innovation in the pharmaceutical sector. Against the backdrop of industry growth and evolving trends, the expo provides a platform for stakeholders to explore opportunities and navigate the changing landscape.
In FY23, the Indian pharma market witnessed impressive year-on-year growth, reaching $49.78 billion. Exports saw a modest increase of 3%, while the domestic market surged by 7%. Developed markets also recorded growth, overcoming challenges like the Russia-Ukraine conflict and currency depreciation in emerging markets.
PHARMMAEX Expo 2024 is all set to showcase the latest advancements in pharmaceuticals, healthcare, and related technologies. With participation from over 150 exhibitors, attendees can expect to explore the forefront of pharmaceutical breakthroughs and innovations.
The future looks bright for the Indian pharmaceutical sector, with factors like an aging population, rise in chronic diseases, increased healthcare awareness, and government spending contributing to steady growth. The export growth of Indian pharma companies is expected to be bolstered by changing global demographics and patent expiries in regulated markets.
So mark your calendars and get ready to be amazed at PHARMMAEX Expo 2024 – the place to be for all things pharmaceutical!
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