The South East Asian pharma market is one of the most dynamic growing regions in the world.
Living standards in the Association of South East Asian Nations (ASEAN) countries are rapidly improving. South East Asia represents great opportunities for companies in the pharmaceutical industry in general.
The ASEAN region is currently in the process of deploying multiple growth initiatives for the pharmaceutical industry. These include prioritising new regulatory measures through the AEC accord and rolling out universal healthcare schemes, particularly in Indonesia, which under its Social Security Organising Body (BPJS), is on target to have the world's largest healthcare system by 2019.
The pharmaceutical market of the ASEAN region is composed of the established and the emergent economies. The established economies include South Korea, Taiwan and Singapore, the emergent economies include Indonesia, Thailand, the Philippines, Malaysia and Vietnam.
Overall, the region is classed as emergent with considerable potential for growth in the economies of Indonesia, Thailand and the Philippines due to larger populations and steadily growing economies that are witnessing rising wages and the prioritising of healthcare by regional governments.
In recent years these markets have become very attractive to foreign investment and joint-ventures with multinationals due to improvements in manufacturing standards through effective national regulation.
In particular, the Indonesian market has grown through government efforts to provide universal healthcare. When the initiative was announced in 2010, it included the allowance of 100 per cent foreign ownership of pharmaceutical companies, resulting in sales of the pharmaceutical sector experiencing nearly twice the growth rate of gross domestic product. Currently, under Indonesia's Social Security Organising Body (BPJS), the healthcare scheme is set to become the world's largest by 2019.
In Indonesia, GDP per capita has doubled in the past five years and mid-income population is expected to double to 52 million by 2015.Indonesia alone represents the world's fourth most populous country with 238 million people and a CAGR of 11 per cent well above the world's average.
Indonesia is projected to be the fast-growing economy within the ASEAN region, with an average annual growth rate of six per cent in 2014-2018.The potential of Indonesia’s pharmaceutical market will be boosted by authorities’ aim to provide universal health coverage in 2014. Healthcare spending in Indonesia is projected to reach US$21.71 billion in 2015.The government economic plan aims to increase GDP per capita from US $3,000 now to US $15,000 by 2025.
Beyond this, the accord by ASEAN leaders to form the ASEAN Economic Community (AEC) by 2015 paves the way for unified regulatory action throughout the region with the goal of eliminating tariffs and cross border barriers to establish a single market that harmonises standards, lowers costs, and reduces the complexity of manufacturers planning to expand into the region. For the pharmaceutical industry this includes regulation designed to increase the quality and availability of the region's medicines by employing greater oversight to areas such as importation and recalls, where alerts in one country will be applicable to all member nations.
At the same time, ongoing harmonisation across the ASEAN promises to make the entire region more competitive and powerful in the world market. Vietnam's pharma industry is expected to have a CAGR of 24 per cent with Malaysia, the Philippines, Thailand and Singapore also poised for growth.
CPhI South East Asia co-located with P-MEC and InnoPack South East Asia is the right platform, where one can meet ASEAN decision makers and business partners within the pharmaceutical industry with a potential of US$80 billion pharmaceutical market value at retail price in 2017.
By exhibiting during CPhI South East Asia, co-located with P-MEC and InnoPack South East Asia, an attendee can take advantage of technical seminars, where he can give a product or services presentation for 30 minutes.
CPhI South East Asia and co-located events taking place from May 20-22 ,2014 in Jakarta, Indonesia brings the entire pharmaceutical supply chain under one roof from ingredients to technology and packaging, making it a one stop shop for ASEAN pharma solutions.
With over 5,500 attendee's CPhI South East Asia is the perfect place to meet new customers, network with existing customers and see what over 260 other exhibitors have to offer. With 16 per cent of all attendee's being a CEO/President and another 16 per cent being purchase managers this is the perfect opportunity to create lifelong business relationship South East Asia is also incredibly diverse with companies from over 20 countries to come together for one event.
3 pharma events in one
CPhI South East Asia provides pharma ingredients professionals from over 140 countries and regions a unique environment where they can meet, learn, network and share ideas with each other. It enables participating companies to gain access to the ASEAN pharma market where they can meet potential partners and identify business opportunities in the region's rapidly expanding market.
P-MEC showcases innovative pharmaceutical machinery, laboratory equipment and analytical technology through face to face networking and education. Government funding of finished dosage and generics continue to drive rapid growth in the manufacture base throughout South East Asia, requiring infrastructure investment and machinery to meet the demand. P-MEC brings the well-known pharma machinery event from Europe, India and China to CPhI South East Asia to build the industry.
InnoPack brings the latest innovations in packaging and drug delivery systems to pharmaceutical buyers. Covering packaging, drug delivery systems, labelling and track & trace. InnoPack joins CPhI South East Asia to showcase global packaging solution providers.
Some of the exhibitors include Kimia Farma, MENSA, Jebsen & Jessen, Procaps, Schott Pharma, ACG World, SSN Chemicals, Tigaka Distrindo Perkasa, Oceanic Pharmachem, SKY Softgel, Adam Fabriwerk, Global Chemindo Megatrading, Truking, Austar, State of Missouri, Kerry Bioscience, Robinson Pharma, Rigaku Raman Technologies, Inc, Cava Pharma, Procaps, Thermolab and many more
CPhI South East Asia 2013
CPhI South East Asia 2013, which ran from March 20-22 at the Jakarta International Expo was the most successful so far according to the organizers. The event which provided networking unique opportunities and a hot bed of pharmaceutical innovation, attracted more than 5500 visitors from 51 countries and regions meeting over 260 exhibitors from 25 countries and regions around the world.
The strong international focus at CPhI South East Asia was representative of the expanding pharma sector within the region and was enhanced by new co-located events, including PMEC and InnoPack South East Asia.
"The pharma market in South East Asia is experiencing a very dynamic period with growth of both domestic manufacturing and international trade. We therefore designed CPhI South East Asia 2013 to reflect these sweeping changes and ran a series of high level conferences alongside the exhibition enabling participants to hear the latest thinking on pressing issues, including: the impending ASEAN harmonisation due in 2015; cross-border trade and regulatory arbitrage; IPR protection; and perspectives on the pharmerging markets, regional consumer trends, the growth of generics and regional manufacturing," commented Martin Wilson, UBM Live Brand Director.
A crucial element of the ASEAN region's development will be the establishing of close regional partnerships and cross-sharing of information between companies. CPhI South East Asia recognised this evolving landscape and is the only dedicated event for the region where ideas and business opportunities can be exchanged.
Furthermore, local Governments have lent their support to the event as they aim to implement initiatives for increased domestic production particularly focussed on generics and a tighter regulatory landscape aimed at reducing anti-counterfeiting issues. Coupled with a growing economic affluence and cross border trade means the region is at the precipice of an explosion of growth.
The increase in exhibitors, internationally credible speakers and visitors highlights the immense strides countries here have made in manufacturing standards, increased commitment to standardised regulation, improved packaging technologies, and legislation protecting intellectual property - crucial to safeguarding innovation - and improving safety standards.
"CPhI as a whole is mirroring changes in South East Asia and our aim is to help facilitate the adoption of new technologies and partnerships needed to help meet the Government backed demands of an increasing standardised regulatory arena and greater domestic production of pharmaceuticals. With a rapidly reforming healthcare landscape this event will continue to grow next year and help build the region as a manufacturing base and source of biotech and pharmaceutical innovation", Martin added.