Huge CPhI & P-MEC China a direct result of surging manufacturing
Great Hall of China: Informa adds additional capacity to Asia's largest pharma event with record 66,000+ visits from 141 countries
SHANGHAI, July 23, 2019 /PRNewswire/ -- CPhI and P-MEC China – organized by China Chamber of Commerce for Import & Export of Medicines & Health Products (CCCMHPIE), Informa Markets, and Shanghai Sinoexpo Informa Markets – saw record numbers of attendees as the pharma market in China continues to grow. The three-day Shanghai event featured 3,200+ exhibiting companies, spanning the entire pharma supply chain, and provides a strong indication of the market's overall growth patterns and future development.
China's pharma market continues to expand at a relentless pace, with CPhI & P-MEC China mirroring this trend as it received over 66,000 visits in its 19th edition from some 141 countries. Most remarkably, the numbers of international visitors continue to surge – up by more than 74% since 2017, with international attendees representing 23.4% of the total attendees this year. Such was the demand, the event had to add an extra exhibition hall to keep pace with demand for access to the market.
"One of the reasons for the influx in attendance is that overseas companies are looking to fast track their pathway to this $1.22 billion market. This was evidenced by the strong turnout for the 'Doing Business in China' workshop – which explored the practicalities of entering the Chinese market: including the political, environmental and regulatory factors that need to be evaluated at an early stage," commented Marie Lagrenee, Brand Manager at Informa Markets.
Integral to sustaining the boom in the Chinese pharma market is its ongoing harmonizing efforts. This was explored by a panel discussion moderated by Frances Zipp, President & CEO, Lachmann Consultants & Vice Chair at ISPE. The panel evaluated the steps taken to bring GMP in line with global standards, challenges facing Chinese manufacturers and how both domestic and international manufacturers can work collaboratively to continue to improve quality standards.
As a direct response to China's increased internationalization, the 3rd China Pharma Week took place alongside CPhI & P-MEC China on 17-21 June focusing on leadership, business, networking, innovation, recognition and knowledge. The CPhI China-World CEO Summit involved in-depth exchanges on industry regulatory policies, international development strategies, global innovation trends and Sino-international industry cooperation approaches.
In fact, this is the single biggest trend to emerge from Asia's largest pharma event – the rises in domestic manufacturing are now also being supported by increased numbers of international companies looking to manufacture locally. As a result, from ingredient and generics to innovative products, China's market is growing extremely quickly. Companies are seeking to take advantage of tax incentives from locally manufactured drugs, coupled with regulatory easing, experienced chemists and the growing contract manufacturing industry.
"This year's event demonstrated what an exciting time it is for Chinese pharma. We are seeing many opportunities for Sino-international partnerships at CPhI and P-MEC China, as manufacturing of generics, APIs and finished dosages grows quickly. Our agenda highlighted the importance of partnering with local companies as integral to building a key presence in this market. This is why an event like CPhI China remains so pivotal – it's about establishing contacts, discussing innovative solutions, and developing new ways to advance the industry even further," added Lagrenee.
CPhI and P-MEC China will return with its 20th edition again in 2020. The event will be held from 22 – 24 June 2020 in the Shanghai New International Expo Centre, alongside the 4th edition of China Pharma Week.
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