‘The Future is Now’ was a common statement heard from many speakers at the Pharma Life Sciences Congress 2017. The statement was demystified in a series of panel discussions and talks by industry leaders participating in the ET-Edge event held on Friday, 3rd November 2017 at Vivianta by Taj-President, Mumbai.
As per ET-Edge report, the Indian Pharmaceuticals Market is…
- The third largest in terms of volume and thirteenth largest in terms of value
- The largest provider of Generic Drugs Globally with the Indian Generics making up for 20% of Global Exports in terms of volume
The report adds that the Indian Pharmaceuticals market is expected to expand at a CAGR of 15.92 per cent to US$ 55 billion by 2020. However, for India to make a mark, ‘Innovation’ is the key word, which is possible through ceaseless dedication, encouragement of innovative minds and talent, adoption of advanced technology, investment in research and development, along with supporting government regulations and regulatory guidelines.
A conducive environment, where high-end technology like Big Data Analytics, Artificial Intelligence and Digital Platform across various segments play a crucial role, will flourish the Pharma Industry in India. Currently over 80% of the Antiretroviral Drugs used Globally to combat AIDS (Acquired Immuno Deficiency Syndrome) are supplied by Indian Pharmaceutical Companies (Source: ET-Edge). With innovations, India will not just be the ‘Pharmacy for the Developing World’, but India could also be one of the leaders in the Global Pharmaceutical Sector.
The event was covered in the Economic Times and featured quotes by the prominent leaders of the Pharma Industry. This is what Brandcare CEO, Rashmi Thosar had to say about the future of the pharma and life science industry – “As health becomes the preoccupation of the Gen Now and the Gen Next, it becomes their occupation too. Life sciences is mushrooming. Medical tourism,speciality hospitals, DIY diagnostics, wearable health, innovative drugs and drug deliveries, second opinions, clinic locators, appointment apps, health consumables are creating and co-creating new environments. Health care trends are in a state of flux. Some key trends to watch for are shifts in demographics, evolution of the healthcare consumer, hastened pace of lifestyle diseases, and technology and digital advances.”
BrandCare was glad to be the Healthcare Communication Partner to ‘The Economic Times Pharma Life Sciences Congress 2017’, an event that has the calibre to bring a positive change in the ‘Future’, beginning ‘Now’.