Following the successful inaugural event last year,CPhI Korea will be returning to the COEX in Seoul, South Korea from September 7 to 9 2015 . Co-organised by the Korean Pharmaceutical Traders Association, the event will be co-located with ICSE, P-MEC and BioPh.
Together, these four-events-in-one, provide an unrivalled meeting point for global suppliers of raw materials, machinery, contract services and bio-solutions to interact with domestic and international visitors and deliver pharmaceutical products across Asia and the wider globe.
The South Korean pharmaceutical market, one of the largest developing pharma markets in Asia, is expected to reach a value of over $24 billion by 2020 and following the country’s “Pharma 2020 Vision”. The Government has committed $8.9 billion to drug development over the next five years. Investment in biotechnology is increasing, with annual double-digit growth expected in this sector over the coming years. Most significantly, South Korea has the largest number of biosimilar clinical trials and targets in its pipeline, making it the global leader for development within this class
Last year, South Korea reached a milestone in joining The Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme (PIC/S). The two international instruments between companies and pharmaceutical inspection authorities are designed to lead the international development, international, implementation and maintenance of harmonised Good Manufacturing Practice (GMP) standards and quality systems of insepctorates in the field of medicinal products. With this advancement, the South Korean pharmaceutical industry has provided the opportunity for domestic companies to advance to foreign markets.
India is among the top eight Korea’s pharmaceutical exporting countries. This year, 11 Indian companies are set to exhibit at CPhI Korea 2015, covering all areas of pharmaceuticals.
Korean pharmaceuticals are positioned as pharmaceuticals with higher quality than Chinese ones, but lower price than European or USA markets.
The South Korean market is already the 15th largest pharmaceutical market in the world and CPhI Korea aims to provide an even bigger platform this year for such international collaboration, growing in tandem with the wider economy.
CPhI Korea has expanded to a three-day event, with an exhibition space that is three times larger in 2015. Over 3000 attendees and 150 exhibitors from an estimated 50 countries are set to gather in South Korea for the event’s second edition.
The 2015 exhibition is three times bigger than CPhI Korea 2014, and will welcome 150 exhibitors. The show floor has expanded to 5,000 square metres, allowing for this huge increase in exhibitor numbers and enabling even more networking and learning opportunities.
The three-day event provides the perfect platform for local and regional South Korean pharma companies to meet with international businesses and form partnerships.
According to Chris Kilbee, Group Director at UBM EMEA, organizers of the event ,“We are delighted to return to South Korea for a second year, with an expanded exhibition and content portfolio. After such a successful opening event last year, we are very excited to deliver a more market-focused exhibition at such a key time for this regional hot-bed of pharma innovation.
"Over the next few years, strong growth is forecast for South Korea, thanks to the Government’s “Pharma 2020” plan and pushing ahead with increased R&D investment – it really is a dynamic time to enter this market. Moreover, CPhI Korea plays an essential role in gathering pharma companies and executives from across Asia and the globe, and provides an unrivalled central hub for creating business opportunities and partnerships”, he adds.
According to Sekyoo Oh, representative director, UBM Korea Corporation, CPhI Korea is the perfect platform to meet the new & existing clients from Korea and the surrounding region in one place; 1:1 Business Matchmaking Programme is the official show service that allows exhibitors to search for and arrange meeting with target companies and key decision-makers prior to the show.
"We have exhibitors from 11 countries in total so far - China, Czech Republic, India, Italy, Korea, Russia, Spain, Turkey, the UAE, the UK, and USA. 2 China Pavilions are organised by CCCMHPIE (China Chamber of Commerce for Import & Export of Medicines) and CCPIT (China Council for the Promotion of International Trade). Russia Pavilion is organised by Russia ministry. Lastly, KPTA Special Pavilion is organised by our co-organiser KPTA (Korea Pharmaceutical Traders Association).", he says.
"Last year, we had 2,042 visitors from 47 countries.This year we are expecting around 3,000 visitors, and visitors from 76 countries had already pre-registered for the show. From our show, visitors can
- Learn about latest pharmaceutical trends
- Discover potential partners who can help you tap into the Korean pharma industry
- Source high quality products and services within a well developed market' , he explains. .
Highlights of the event
CPhI Korea co-located with ICSE, P-MEC and BioPh will bring together local Korean and regional drug manufacturers with global suppliers specialised in pharmaceutical ingredients, contract services, machinery and bio-solutions. Co-location with ICSE, P-MEC and BioPh provide services and opportunities across the whole supply chain.
These four-events-in-one provide the perfect platform for Korean manufacturers and global suppliers to meet and create business opportunities across the full three days.
Conference programme will be covering the world’s pharma trends, strategies for advancing in emerging markets for Korean companies and Korea’s registration process for foreign companies
1:1 Business Matchmaking Programme will allow exhibitors to search for and arrange meetings with target companies and key decision makers prior to the show
Ministry of Food and Drug Safety, Korea Drug Research Association and Korea Biomedicine Industry Association are all sponsors of CPhI Korea 2015.
South Korea is currently the global leader in the development of biosimilars by number of trials and drugs in the pipeline. With the backing of the Government, biosimilar development has managed to thrive and many South Korean biosimilar developers are now evolving their businesses to include the development of biobetters as well.
South Korea’s API market has been growing steadily over recent years and more and more companies are now looking to South Korea to source API suppliers and instigate partnerships as an alternative to India or China.
The strong growth in the API market has largely been led by the reforms in cGMP manufacturing – with many Korean Manufacturing Association members upgrading their plants to meet cGMP standards – and the Government’s push for increased innovation and R&D through their “Pharma 2020 Vision”.
The growing population in the country and consciousness towards health and early diseases diagnosis have led a boost to healthcare and medical devices. The medical device market which was valued at $3.3 billion in 2008, is expected to reach $6.3 billion by 2020, at a projected CAGR of 5.5 per cent. Moreover, to support this industry, there are a lot of changes going on in the regulatory bodies overseeing the pharmaceutical and wider medical sectors, to provide a transparent, strong and efficient regulatory system to facilitate faster approval of pharmaceutical products and medical devices.
As with all CPhI events, leading pharma companies from around the globe will be in attendance, providing the ideal opportunity to meet with top-level executives who can actively help in promoting business activities.
Additionally, the Korean Pharmaceutical Traders Association is working together with CPhI Korea to facilitate partnerships within the region’s pharma industry by connecting regional manufacturers with global suppliers, driving continued innovation and growth in the region.
The CPhI series are renowned worldwide for being “must-attend exhibitions”.
CPhI Korea was launched in the form of a sponsorship-based exhibition in which all the exhibitors participated as sponsors last year. CPhI Korea 2014 was no different in its inaugural year, attracting a total of 2,042 visitors and buyers from 47 countries, with 23per cent of attendees coming from overseas.
Alongside the exhibition, a high-level conference programme ran across the two days of the event covering a wide range of topics including: expanding your brand in Korea and drug registration in this market.
Since the last year’s event was successful, for 2015, the whole exhibition and conference programme has been expanded to three full days to accommodate the increase in quantity and quality of content for attendees in 2015.