New event to act as regional confluence for 22 countries, with Turkey’s domestic demand alone forecast to reach $22.8bn by 2015
CPhI Istanbul 2014 is the latest addition to UBM Live\'s global pharmaceutical events portfolio, and will take place on June 4 – 6 2014 at the Lutfi Kirdar International Convention and Exhibition Centre in Istanbul.
The Eurasian region is on the precipice of exponential pharmaceutical sector growth; Turkey is a core country within this region as growth is forecast to reach $16bn by 2014. Located in Istanbul, the event acts as a central melting pot for the Turkish pharmaceutical sector, and those in Eurasia, Central Asia and MENA regions.
Istanbul is the ideal geographical hub in the region between some of the world’s most dynamic pharma markets
Istanbul is the ideal geographical hub in the region between some of the world’s most dynamic pharma markets, with Turkey being the OECD\'s fastest growing economy. As the confluence between Asia, Europe and MENA, Istanbul serves as a meeting point for trade, and is seen as the go-to destination for pharmaceuticals. There are also a significant number of pharmaceutical companies operating in Istanbul, with exports to neighbouring countries reflecting the highly regarded position Istanbul holds within the market and its potential to become a foremost provider of pharmaceuticals.
The exhibitor profile reflects this diversity with 115 companies from key countries including exhibitors from the region’s largest healthcare economies of Israel, Egypt, and Saudi Arabia.
CPhI Istanbul 2014 will provide the first centralised event for regional drug manufacturers to meet with global suppliers of raw materials, machinery, packaging solutions and contract services, as well as attracting visitors from the region looking for suppliers and manufacturing partners to bring cost-competitive pharmaceuticals to their individual markets.
The event has formed a strategic partnership with the Pharmaceutical Manufacturers Association of Turkey (IEIS), which is exclusively supporting the event and providing active promotion among its members, emphasising the status that CPhI Istanbul holds as the foremost trade fair for presenting new business opportunities for pharmaceutical companies within the region.
The commitment to creating reformed healthcare economies represents a tremendous growth opportunity for private companies, both local and international
What’s more, 33 investment projects designed to develop new and modernise existing pharmaceutical industries in the MENA and Central Asia region with a total value of nearly $400m will complete by 2015. This commitment to creating reformed healthcare economies represents a tremendous growth opportunity for private companies, both local and international, and especially for higher-yield pharmaceutical products where demand is rising rapidly, which is attracting the attention of multinational pharma companies.
Turkey’s pharmaceutical sector is currently ranked seventh in Europe and 16th globally and the next few years are expected to be a very exciting time for investing, particularly as healthcare spending in the country is predicted to rise over the next year. Furthermore, the Turkish government is introducing financial incentives in an attempt to increase attraction from international drug producing companies, and exports are estimated to rise to a potential $8bn.
CPhI Istanbul, which will co-locate with P-MEC, InnoPack and ICSE, will provide a new meeting point for senior pharma professionals and international pharmaceutical suppliers and buyers of pharma raw materials, machinery, packaging solutions and contract services. Collaboratively, it is expected that the shows will attract around 2,000 visitors, both local and international.
Highlights of CPhI Istanbul 2014:
\'CPhI Istanbul will provide an unrivalled opportunity to act as central business hub for the 22 countries within this region and help stimulate growth in what is already a dynamic and readily reforming and modernising healthcare and pharma market,\' said Chris Kilbee, Group Director, CPhI Pharma Portfolio. \'With government support in the region on the rise, alongside a rapidly changing healthcare landscape, the event launch marks a new stage in positioning regional companies within a more global context.
\'CPhI Istanbul will bring together local Turkish drug manufacturers with regional suppliers of raw materials and will undoubtedly help to build and develop the region as a prime area for manufacturing both locally and internationally.\'