The pharma industry in South Korea has seen a significant increase for "overall competitiveness" in the 2022 CPHI Annual survey. According to provisional CPHI Annual survey data, the industry underwent a 12% increase from the year before.
The findings provide a major boost for manufacturers in the region, anticipating significant growth in 2022 with some 4,900 attendees expected at the event.
The South Korean government is targeting over $50 billion in exports by 2030 and many international companies are accelerating efforts to deepen local supply networks.
Predictions are to see more than 200 exhibitors in attendance from nearly 50 countries, with 77% of attendees having direct purchasing responsibilities.
The event, co-organised by Informa Markets and the Korea Pharmaceutical Traders Association (KPTA), Korea Biomedicine Industry Association (KOBIA) has become a hub in particular for international pharma companies looking to expand their regional supply networks or sell within the region.
Our aim is to unlock business growth at every stage of CPHI Korea with solutions designed to keep your business at the heart of Pharma
"We are very excited to be returning fully in-person this year as Korean pharma has boomed in the last few years, in particular local manufacturing and contract manufacturing, but also international sales opportunities are growing rapidly - and we expect this to be one of the fastest growing parts of the CPHI family," said Orhan Caglayan, Group Director at Informa Markets.
The 2022 edition will run in hybrid format with both in person networking as well as a targeted online matchmaking platform. This will run for a 10 days post event, empowering attendees with the opportunity to preselect partners and even agree meetings post event.
"The increased demand for Korean manufacturing is the chief impetus behind launching the Hosted Buyer Programme. Our aim is to unlock business growth at every stage of CPHI Korea with solutions designed to keep your business at the heart of Pharma," continued Caglayan.