Survey findings highlight the importance of international partnering ahead of pharma’s first AI-driven matchmaking event
Ahead of the CPhI Festival of Pharma (5-16 October, 2020) – global pharma’s largest ever virtual gathering – the CPhI Pharma Index[i] shows only Italy and India have improved their score in 2020, with the majority of industry executives looking for new supply chain partners.
The Index – an aggregated confidence score across the five main small molecule categories in each of the largest economies – compiles the findings from more than 550 executives and sees an overall decrease of 0.86% in score across all nations for the first time. This is perhaps to be expected given the global impact that COVID-19 has had, but overall, the Index shows pharma to be in a strong position and globally, the industry has weathered the impact of the pandemic well.
Many of the leading pharma economies have again scored strongly in ‘innovation’ and ‘pharmaceutical quality’ and the slight fall on 2019 results reflects reduced confidence in growth rather than quality. The major exception to the overall trend was Italy which has seen a dramatic increase of nearly 6.3% in overall score, with its API industry widely perceived to be a primary beneficiary of global shifts in ingredient sourcing strategies. China’s overall score has fallen (5.9%) for the first time, but the report predicts a likely dramatic bounce back in 2021, citing a gradual shift here towards a pharma economy led by domestic – not international – sales.
“One important thing to say about the rankings is that the scores reflect a very strong industry and a growing industry. The year on year score decrease is a reflection of the strength of the 2019 results, and this slight fall still points to very positive outcomes (as scores are high across all categories), particularly in the medium- and long-term.” commented Cara Turner, Brand Director at CPhI Festival of Pharma.
One notable finding from the executive survey is that global pharma executives have shifted focus towards securing increased supply side partners, with 84% of the industry actively searching for new partners. Interestingly, in terms of starting materials – currently the focus of much debate – the market remains ambivalent as whether it would be beneficial to bring these home to domestic markets. Respondents were nearly equally for and against, with 48% believing domestic production is ‘desirable’, 37% stating ‘No - it’s too disruptive to a complex industry’ and a further 15% ‘No - and it’s not desirable’.
“What our global pharma surveys show is that the pandemic has increased the importance of finding new international partners and improving supply chain contingencies. The duality of this, with reduced international travel, is why we integrated an AI-driven matchmaking service into the CPhI Festival of Pharma. Our aim is to increase global networking and to have our customers make international connections they might not otherwise have made. It’s also why I would encourage the industry to register now and give as much detail as you can so that the matchmaking service can provide you with the best possible matches. This event is the single biggest opportunity in 2020 to identify those vital partnerships,” added Turner.
The full survey findings will be available for download shortly at the Festival of Pharma as part of the CPhI Annual Report.
The virtual event will see hundreds of global companies exhibiting and thousands of attendees, with networking supported by an AI-Driven Matchmaking Service – which provides bespoke meeting plans, targeted specifically at the most relevant professionals and companies. Additionally, attendees can utilise the Exhibitor List tab to directly find companies and explore their offerings, capabilities, and the markets that they serve.
Notes to editors
CPhI drives growth and innovation at every step of the global pharmaceutical supply chain from drug discovery to finished dosage. Through exhibitions, conferences and online communities, CPhI brings together more than 100,000 pharmaceutical professionals each year to network, identify business opportunities and expand the global market. CPhI hosts events in Europe, Korea, China, India, Japan, South East Asia, North America, and the Middle East and Africa. Co-locating with ICSE for contract services; P-MEC for machinery, equipment & technology; InnoPack for pharmaceutical packaging; bioLIVE for biopharma; and Finished Dosage Formulation for every aspect of the finished dosage supply chain. CPhI provides an online buyer and supplier directory at CPhI-Online.com.
For more information visit https://www.cphi.com
About Informa Markets
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year.
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The Informa Markets annual schedule of Pharmaceutical events include: CPhI & P-MEC India (26–28 November 2019 at the India Expo Mart, Greater Noida, Delhi NCR – Delhi, India); Pharmapack Europe (5-6 February, 2020 at the Paris Expo, Porte de Versailles – Paris, France); CPhI South East Asia (4-6 March, 2020 at the QSNCC – Bangkok, Thailand); CPhI Japan (16-18 March, 2020 at the Big Sight Exhibition Centre – Tokyo, Japan); CPhI North America (05 April - 07 May, 2020 at Pennsylvania Convention Centre – Philadelphia, USA); CPhI and P-MEC China (22-24 June, 2020 at SNIEC – Shanghai, China); CPhI Korea (26-28 August 2020), COEX – Seoul, Korea); CPhI Middle East & Africa (14-16 September, 2020 at the ADNEC – Abu Dhabi, United Arab Emirates); CPhI, ICSE, P-MEC, FDF, InnoPack Worldwide, BioProduction (13-15 October, 2020 at Fiera Milano, Milan)
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[i] Produced as part of the CPhI Annual Report 2020, the full findings of which will be available for download shortly at the CPhI Festival of Pharma. The Pharma Index averages scores for countries across the five main small molecule categories: API production quality, finished dose production quality, growth potential, overall competitiveness, and innovativeness.