CPhI South East Asia to Open Thailand Edition in 2019
CPhI South East Asia – organized by UBM – has announced that from 2019 onwards it will alternate its annual location between the region’s two largest pharma economies, Indonesia and Thailand. In 2019, CPhI South East Asia will take place at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand (March 12-14) before returning to Jakarta International Expo (JIExpo) in Indonesia in 2020 (March 4-6). CPhI South East Asia’s strategic move to Thailand will further strengthen the event’s appeal within the region. Organizers’ anticipate a significant growth in new visitors from more diverse locations with the new venue, catering to attendees that were previously unable to participate. The event’s first visit to Thailand comes at a significant time for the country, as pharma sales are expected to grow by 8.4% in 2019, with multinational corporations increasingly looking to partner with local contract manufacturers in order to expedite and streamline market access. According to data from BMI Research, by 2021 the pharmaceutical market is forecast to reach a value of THB209.7bn (USD6.3bn), experiencing a compound annual growth rate (CAGR) of 5.4% in local currency terms and 6.8% in US dollar terms. Over the extended forecast period, medicine sales will experience a 10-year CAGR of 5.5% and 6.3% in local currency and US dollar terms respectively, reaching THB275.2bn (USD8.4bn) by 2026. “This is very much a natural progression for the CPhI South East Asia and the region, opening even greater opportunities to meet new partners and expand pharma sales. Collectively, these two countries account for over 50% of the region’s sales,” commented Chris Kilbee, Group Director, Pharma at UBM. According to PhRMA’s Special 301 submission for 2017, Thailand was once again designated as a ‘Priority Watch List Country’. Notably, only India and Indonesia share this status in the entire Asia Pacific region. Additionally, the country is set to benefit from amendments to the Patents Act 2017 – which enables an expedited Thai patent application for companies with existing patents from Australia, China, the EU, Japan, South Korea and the US – further cementing international interest. For more information please visit http://www.cphi.com/sea/
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