Medical Equipment and Biomedical Engineering (IPhEB) is organizing a mega exhibition event at St. Petersburg in Russia from April 25 - 27. The event is taken on a priority basis by the Russian government as it is considering to build pharmaceutical industry base with an aim to boost and expand its economy by the year 2020.
In view of this, the event is also considered significant for the Indian pharma industry because as on today Russia is an important market for India. Russia accounts for two-fifths of the total Central & Eastern European pharmaceutical market, due to its large GDP and population of 142 million. The Russian pharmaceutical market is predicted to expand at a relatively high CAGR in US dollar terms over the next few years and will continue to be driven by import growth.
As Russia is taking its initial steps to develop its own independent pharmaceutical base, it is equally important for the Indian pharma industry to explore new areas of business where it can fit itself in the future.
The first IPhEB exhibition was conducted in 2011 and it had attracted huge response from the international pharmaceutical fraternity. From India Pharmexcil, represented the event.
This year as it is the 2nd IPhEB event, it is important for the Indian industry to make its presence and showcase its capabilities in varied fields of R&D, clinical research, bulk drug manufacturing, formulations and medical equipment sectors. “With the changing dynamics in the international markets, the Indian industry too should evolve itself and foster new businesses by developing constant contacts and by networking between pharmaceutical industry and biotechnology companies in that country,” says, PV Appaji, executive director of Pharmexcil.
The integral part of the IPhEB Forum program will be thematic sessions concerning the most currently important problems of the pharmaceutical, medical and biotechnology industries.
From Indian perspective as Russia is an important market among the CIS countries, the Pharmaceutical Export Promotion Council of India (Pharmexcil) is organizing an India Pavilion and a focused buyer -seller meet at the event.