Pharma in South East Asia booming as CPhI opens event for the first time in Thailand27 Feb 2019
Healthcare and pharmaceutical reforms, designed to increase access to high-value medicines, driving growth.
CPhI South East Asia’s (12-14 March 2019) first visit to the fast-growing pharma economy of Thailand could not come at a better moment. The Country is experiencing a boom amongst pharma manufacturers and rising demand for contract services, with multinational corporations increasingly looking for local partners to expedite market access into the wider region.
Over the next 5 years, the pharmaceutical industry in Thailand is anticipated to grow by CAGR of 7% and reach THB 275bn by 2026. Growth is being driven by healthcare and pharmaceutical reforms, designed to increase access to high-value medicines, which is sustaining imports from both the US and Europe. Meanwhile, generic medicines demand both regionally and international is resulting in robust exports growth.
Emphasising the interest from international pharma markets, pre-registration figures for the event have more than tripled ahead of what will be the 8th edition in this fast-emerging pharma hub. In the wider region, developments are no less exciting, with investor interest fuelled by rapidly rising living standards, regulatory convergence, coupled with the introduction of universal healthcare systems. The culmination of these industry drivers is directly contributing to considerable pre-event excitement, with numerous opportunities for both domestic and international partners.
The event’s move to peripatetic format has helped to fully capture this region’s dynamism and in total, over 5,000 attendees and 250+ exhibitors from more than 25 countries are expected at CPhI South East Asia. The show floor itself has grown by over 50% year-on-year, further highlighting the renewed confidence amongst exhibitors in South East Asia.
“The region is undergoing a very pronounced period of regulatory alignment and harmonisation and this year we have seen tremendous growth in both international attendees form outside the region, and in particular, regional attendees from across all countries in South East Asia. There is a real sense of excitement leading up to the event and an air of optimism about future prospects from both suppliers and visitors. We have established CPhI SE Asia as the region’s new business hub, and it is attracting everyone from ingredient suppliers to distributors and CMOs. But most critically, as the fundamentals in the market are so positive, we are pulling in new audiences from all across the globe. For example, many drug companies are seeking to manufacture here to gain easier access into the wider region, especially China,” said Marie Lagrenee, Brand Manager at CPhI South East Asia.
Beyond the exhibition, the CPhI South East Asia Conference brings together the main regional pharmaceutical associations and regulators to help accelerate integration and partnerships. The conference is an opportunity to hear the most cutting-edge insights, learn new trends and exchange ideas. Key sessions will explore the ‘ASEAN Regulatory Framework’ and ‘FDA Framework and the requirements for importing APIs to Thailand by the FDA and the Ministry of Public Health’.
Another highlight is the Exhibitor Seminars, which feature in-depth sessions on new products and innovations, as well as informative content from heavyweight knowledge partners: Clarivate Analytics, IQVIA and Affygility. The business matchmaking service will also once again be available to attendees – serving as an online tool to arrange meetings before the event, ensuring attendees maximise their time onsite.
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