A record number of attendees at CPhI and P-MEC China has proved indicative of China’s growing market.
china market
The three-day event in June featured over 3,200 exhibitors and received over 66,000 visitors from some 141 countries. The event saw an increase in international visitors, with a 74% rise since 2017.
In response to the increased internationalisation, the third China Pharma Week took place alongside CPhI & P-MEC focusing on leadership, business, networking, innovation, recognition and knowledge.
“One of the reasons for the influx in attendance is that overseas companies are looking to fast track their pathway to this $1.22 billion market. This was evidenced by the strong turnout for the ‘Doing Business in China’ workshop – which explored the practicalities of entering the Chinese market: including the political, environmental and regulatory factors that need to be evaluated at an early stage,” commented Marie Lagrenee, brand manager at Informa Markets – one of the organisers of CPhI and P-MEC China.
The CPhI China-World CEO Summit involved exchanges on industry regulatory policies, international development strategies, global innovation trends and Sino-international industry co-operation approaches. As a result, from ingredient and generics to innovative products, China’s market is growing extremely quickly. Companies are seeking to take advantage of tax incentives from locally manufactured drugs, coupled with regulatory easing, experienced chemists and the growing contract manufacturing industry.
“This year’s event demonstrated what an exciting time it is for Chinese pharma. We are seeing many opportunities for Sino-international partnerships at CPhI and P-MEC China, as manufacturing of generics, APIs and finished dosages grows quickly. Our agenda highlighted the importance of partnering with local companies as integral to building a key presence in this market. This is why an event like CPhI China remains so pivotal – it’s about establishing contacts, discussing innovative solutions, and developing new ways to advance the industry even further” added Lagrenee.