Global Health Press
Indian pharma market to touch $20 bn by 2015

Indian pharma market to touch $20 bn by 2015

Indian pharma market to touch $20 bn by 2015
Indian pharma market to touch $20 bn by 2015

The Indian pharmaceutical industry is expected to reach $ 20 billion by 2015 which will make it one of the world’s top 10 pharmaceuticals markets.

According to the Associated Chambers of Commerce and Industry, India‘s clinical trials business will also reach approximately $ 1 billion by 2011, further solidifying the subcontinent as one of the world’s preferred destinations for clinical trials. With this increase an immense need has risen to address all aspects of pharmacovigilance to ensure delivering medical advances to patients, quickly and efficiently while protecting public health.

In July 2010 the Ministry of Health and Family Welfare (MOHFW), India, launched a complete roadmap for pharmacovigilance in India under the Pharmacovigilance Programme of India (PvPI). The goal of this programme has been to provide safer medicines for the Indian population.

There are many challenges facing the Pharmacovigilance Program of India, “The sheer number of patients in India is quite sizeable and the issues sometimes conflict between the need to provide access to medicines versus the need to provide safer medicines.” said Dr. Y. K. Gupta, National Coordinator of Pharmacovigilance Program of India (PvPI) and key note speaker at Pharmacovigilance Summit India.

“The Ministry of Health and Family Welfare (MOHFW), India are planning to address these challenges by allocating a budget head under the MOHFW budget”, added Dr. Y. K. Gupta, a speaker at Pharmacovigilance Summit India.

Dr. Alexander Dodoo, president, International Society of Pharmacovigilance will present a case study on Africa‘s experience in developing a robust pharmacovigilance system with limited resources at
Pharmacovigilance Summit India.

Pharmacovigilance Summit India, taking place from 27-29 June 2011 at the Hilton Mumbai International Airport, reflects the continually increasing importance of drug safety frameworks and approaches.

The event will bring together regional and global experts to create a dialogue with local and international companies on setting up an advanced drug safety system to optimise resources, ensure quality and regulatory compliance.

“Looking at India as the future pharmaceutical hub and with regulators embarking on new initiatives to update and expand methodologies to monitor drug safety, this event couldn’t come at a better time,” said Doaa Said, Conference Director, IQPC.


Source: News Ticker