The recently-concluded InnoPack Pharma Confex in Mumbai, India took place 9-10 June 2022.
With India being a key exporter of drugs and medicines, the event attracted over 600 participants, including 40 exhibitors, 25 speaking tracks and saw participation from top pharmaceutical companies like Dr Reddy’s, Glenmark, Cipla, GSK, Sanofi, and others.
“The government reforms and surge in demand have kept the pharmaceutical packaging industry on a strong growth trajectory. The pharmaceutical packaging market valued at $1.4 billion is expected to grow at a rate of 8.10% CAGR during 2022-2027 and 7.54% CAGR till 2030 and reach the market size of $3 billion. Innopack Pharma Confex is an important platform for the pharma packaging industry of the Indian sub-continent as a sourcing ground for the Pharma industry’s packaging requirements.”
He further added that “Nowadays, the modern-day healthcare professional and individual customer demand convenience as well as sustainable products and packaging.”
His message mirrors that of GlobalData which pointed out many players across the healthcare industry—including pharma, medical device, and healthcare providers—are announcing new ESG (Environmental, Social, and Governance) goals and issuing pledges to ensure more sustainable practices are implemented and upheld.
The key takeaway from Innopack Pharma Confex 2022 was this:
Sustainability is gaining prominence. Technology too, plays a critical part in bridging the gap between functional leaders of the companies and ESG leaders to achieve the sustainability objectives of each organisation.
Industry players and manufacturers in India are challenged to think of innovative, alternative packaging materials that have less of an environmental impact and less weight, while having to keep up with the high-quality standard of packaging.