Last Updated on October 19, 2023 by The Health Master
Phytopharmaceuticals
In a forward-thinking move, Indian pharmaceutical companies are now setting their sights on the burgeoning field of phytopharmaceuticals.
This decision is driven by the increasing consumer demand for products that are not only natural but also sustainable and health-centric.
With the Union government’s stringent regulations on phytopharmaceuticals, focusing on scientific data, quality, safety, and efficacy akin to their synthetic counterparts, companies are poised for a significant leap.
Moreover, the Production Linked Incentive (PLI) scheme has included phytopharmaceuticals, opening new avenues for growth.
Regulatory Momentum and First-Mover Advantage
DBA Narayana, a trailblazer in the realm of phytopharmaceutical regulations in 2019, and CSO Ayurvidye Trust, affirm that India has provided unequivocal guidelines for the review and approval of these medicines.
This offers pharma companies an invaluable first-mover advantage.
The rich history of safe plant-based medicine usage, backed by substantial data, provides a solid foundation for companies to seize the immense potential in phytopharmaceuticals.
Harnessing the Power of Nature
As health and wellness trends continue to gain momentum, there’s a growing awareness of the myriad benefits of plant-based supplements.
Dr. Vivek Srivastava, senior vice president of innovation, business strategy, and scientific affairs at Zeon Lifesciences, advocates for pharma companies to expand their product lines.
By incorporating top-tier botanicals and natural plant extracts, companies can offer an array of plant-based supplements, herbal products, protein powders, and functional foods.
Must read: Phytopharmaceuticals
Nutraceutical Industry Evolution
The nutraceutical industry is currently experiencing a seismic shift, surpassing a global value of $200 billion in 2022.
With projections indicating a compound annual growth rate (CAGR) of 8.9% from 2022 to 2028, the industry is poised to reshape healthcare and pharma.
Pharma companies stand strategically positioned to tap into this dynamic market. Key trends such as personalized nutrition, precision medicine, and digital health are ripe for exploration.
Personalized Medicine: A Game-Changer
Personalized medicine, a cornerstone of this transformation, places emphasis on probiotics and sleep-related supplements.
Understanding the crucial role of gut health and quality sleep in overall well-being, consumers are driving this demand.
Pharma companies have an opportunity to collaborate with genetic testing and personalized data service providers.
Through technologies like 3D printing, customized dosage forms can be crafted, tailoring nutrition solutions to individual needs.
Transparency, Quality, and Sustainability
In an era of heightened consumer awareness, transparency is paramount. Blockchain technology offers a means to provide consumers with comprehensive product information.
Employing cutting-edge analytical techniques like mass spectrometry and NMR guarantees the quality and safety of nutraceutical products.
Additionally, eco-conscious practices in sourcing and packaging align with the growing environmental consciousness of consumers.
Innovations Pave the Way Forward
Zeon Lifesciences, a trailblazer in the industry, has been at the forefront of innovation.
Introducing Intellicaps technology for probiotics, employing high-tech manufacturing, and implementing quality assurance technologies, the company is diversifying product formats.
This includes the launch of sublingual spray and the incorporation of botanicals as key ingredients.
As the industry continues its expansion, we can anticipate a flurry of further innovations and investments from pharma companies, solidifying their competitive edge and securing a substantial market share.
Dr. Srivastava’s forward-thinking perspective paints a promising picture for the future of phytopharmaceuticals in India.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
NABL certification procedure for Laboratories
Formaldehyde in Hair Products: USFDA Proposed Ban
Drug recall: These OTC Drugs and Medical Devices recalled
USFDA issued OAI Status to Biocon Subsidiary
USFDA Approval: USFDA Approval granted for Apremilast Tablets
Drug recall: Sun Pharma subsidiary recalls this Anti-depression drug
Pharmaceutical Quality: Key Amendments in Revised Schedule M
Drug recall: This Nasal Spray recalled due to Microbial Contamination
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon:
