CPHI Korea sees 25% growth as domestic pharma economy forecast to become 7th globally by 2020
![](/46/pdcnewsitem/04/16/39/cphi%20korea.jpg)
Government initiatives driving biosimilars and health foods sectors, with increased international partnerships.
CPHI Korea — hosted by UBM EMEA and co-organised with the UBM Korea Corporation and Korean Pharmaceutical Traders Association (KPTA) — is set to return to Seoul 23–25 August 2016 for its third year in a row. The trade show is experiencing a huge surge in interest; with over 5000 pharma professionals (up 25% from last year) from 50 different countries envisaged to converge at the COEX centre during the 3-day event.
The key factors behind the diversification of pharmaceutical opportunities in the country are the rapid expansion of the biosimilar sector and a continued modernisation across its industry. Investments into the sector’s development by big players such as Celltrion, along with the Government’s capital and regulatory assistance, are predicted to facilitate the biosimilar market’s growth to $1.2 billion by 2019, with a global market share of 22% by 2020.
CPHI Korea is designed to harness this potential and will once again co-locate with ICSE, P-MEC and BioPh, along with the inaugural Health Ingredients (Hi) Korea. The introduction of nutraceuticals, functional food, beverages, and dietary supplements — a sector that grew 11.5% last year to reach $1.7 billion — will enhance the already-diverse range of suppliers on offer at CPHI Korea.
Moreover, large companies are investing, with R&D expenditure rising by 19% and exports by 32.6% in the last year. In fact, the overall pharma market is expected to exceed $24.3 billion by 2020.
CPHI Korea provides a dynamic meeting place for a wide range of industry suppliers to engage with purchasers and decision makers from the pharmaceutical industry, with highlights in 2016 including:
Remarkably, the exhibitor base will grow nearly 10% in 2016 to 150, in response to last year’s stellar event, at which attendee numbers grew by 97%. In addition, thanks to the internationalisation of Korean pharma, overseas buyer attendees have also increased by 42%.
Beyond the exhibition, a high-content conference expands on the theme of internationalisation, key sessions include: ‘The Latest Information on Japan Pharmacopoeia and Master Files’; ‘The success strategy to enter EU market with some cases of most frequent mistakes for (Korean) pharmaceutical companies with respect to API’s used’; ‘Generic Medicines: Registration and Pricing Policies in Europe’; and ‘Pharmaceutical Market in China’.
“At CPHI Korea, we could effectively promote our finished products to the Korean market. We had hundreds of meetings and signed lots of contracts, so we’ll 100% participate next year again,” said Mr Romanenko Sergey, Manager on foreign economic affairs at Sibpribor
The event has been undertaken with the help of sponsors: MFDS (Ministry of Food and Drug Safety), Chungbuk Technopark, KBIZ (Korea Federation of Small and Medium Business), KOBIA (Korea Biomedicine Industry Association), KDRA (Korea Drug Research Association) and KIT (Korea Institute of Technology).
Rutger Oudejans, Brand Director Pharma at UBM EMEA commented: “Korea has been one of the fastest developing and growing events in the CPHI portfolio; in just 3 years, it has grown to have executives and buyers attend from all over the world, with 5000 attendees and 180 exhibitors expected in 2016. CPHI plays an integral role in furthering the Korean pharma economy and we continue to develop the platform alongside the industry, with a health ingredients zone added this year. The event also provides a huge content platform to help both attendees and exhibitors make better-informed decisions and see the full scope of potential in the region.”
Related News
-
News CPHI North America 2024 – From the Floor
Welcome to Philly! CPHI North America once again graces the Philadelphia Convention Center, 7–9 May 2024. -
News Women in Pharma: Diversi‘tea’ at CPHI North America
CPHI North America will unite the pharmaceutical supply chain in Philadelphia from May 7–9, 2024 for 3 days of innovation and connections. As part of the content Agenda, our Diversity Track will bring the industry together to discuss the imperati... -
News More to celebrate at the CPHI Milan Pharma Awards 2024
The CPHI Milan Pharma Awards, which are now open for nominations until 18 May 2024, celebrate the innovators making a difference. This year, two new categories have been added to further honour the contributions of a diverse range of pharma professiona... -
News On Track at CPHI NA 2024: Sustainable Futures with Thermo Fisher Scientific
On the 7-9 May 2024 in Philadelphia, CPHI NA will be presenting an unmissable agenda, filled with content across 4 main tracks. In the following interview the Sustainable Futures Track sponsor, Thermo Fisher Scientific gives an overview of what to expe... -
News LEAP-ing into the future of pharma – the CPHI Middle East Vision
On March 6, 2024, the CPHI team hosted the Future of Pharma Forum at LEAP 2024, Saudi Arabia’s premier destination for tech leaders and innovators to meet and collaborate. -
News CPHI Middle East 2024 – What do we have to look forward to?
We’re bringing CPHI to the Middle East in December 2024. CPHI brings together the pharma community from all over the world, creating a platform for education, collaboration, and progress. -
News CPHI Pharma Awards 2023 – Packaging & Machinery Winner: Gasporox
After another year of impressive nominations for the CPHI Pharma Awards our winners were announced at CPHI Barcelona in October 2023. In this series of interviews, we speak to the people and teams behind the award-winning projects, concepts, and techno... -
News Unpacking what we learnt: Key Pharmapack takeaways with L.E.K. Consulting
After another successful Pharmapack show, we sat down with Karin von Kienlin, Senior Partner at L.E.K. Consulting, to discuss the biggest takeaways and surprises from 2 days of intense discussion and collaboration.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance