As per statistics, the global pharmaceutical manufacturing market size was valued at USD 405.52 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.34% from 2021 to 2028. Furthermore, revenue of the industry is expected to show an annual growth rate (CAGR 2023-2027) of 5.39%, resulting in a market volume of US$1,435.00bn by 2027.
India is the world's biggest pharma exporter. According to the Pharmaceuticals Export Promotion Council of India, Indian pharma exports registered a growth of eight per cent during the first quarter of the current financial year to $6.26 billion, as officials hope for a 10 per cent growth by the end of the fiscal. CIS region constitutes 1.2% share in India’s total exports & 1.85% share in India’s total imports. The main reasons that affect our trade with this region are: distance, language barrier, inadequate transport facility, inadequacy of information about business opportunities, lack of direct and regular interaction among the business entities & inadequate banking facilities in the CIS Countries. Through Pharmanewslive we aim to provide its readers with a dynamic interface and ample content in their native languages.
Commenting on the launch, Karan Bhatia, Founder & Director, SaltDiscovery Media said, “India and USSR had long historic economic and diplomatic relations. Late 1990s with the dissolution of the USSR, CIS became the youngest democracy and India-CIS relations have been rapidly developing over the last 30 years. India being a global power and emerging economy with a stronger healthcare and pharma infrastructure. Through Pharmanewslive we are trying to bridge the language barrier and under the aegis of Make in India initiative we are trying to build a marketplace for Indian pharma entities globally. The primary goal of Pharmanewslive is to create a platform for sharing industry knowledge and to provide services that are industry agnostic.”
Pradeep Arora, Chief Legal Consultant said, “After years of working in the pharmaceutical industry, providing services to a variety of pharmaceutical companies, I can confidently state that this is a one-of-a-kind initiative for introducing India to the world and promoting the Hon. Government’s Make in India initiative.”
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“We are thrilled to launch our new pharma website and provide our readers, stakeholders, and prospective investors with an enhanced digital experience,” said Pooja Chaturvedi, Editor, Pharmanewslive. “Our goal is to bring a niche to our audience and assist businesses in making informed decisions,” concluded Pooja.
