CPHI South East Asia 2024 Poised to Drive Thai Pharmaceutical Industry as Asia's Medical Hub

Wednesday 19 June 2024 11:14
To be held from 10-12 July 2024 at Queen Sirikit National Convention Center, Bangkok, the CPHI South East Asia 2024 will see over 400 leading companies from 50 countries worldwide showcasing their medical advancement and innovations. It is expected that the event will attract over 8,000 visitors and business people who will experience and learn more about the latest information about pharmaceutical products, technology and services from international exhibitors and over 60 discussions and talks, while exploring new business opportunities. The International Pavilion will showcase the latest pharmaceutical innovations from Germany, Switzerland, Poland, China, South Korea, UK, the US, Brazil, Singapore and Indonesia.
CPHI South East Asia 2024 Poised to Drive Thai Pharmaceutical Industry as Asia's Medical Hub

Ms. Rungphech Chitanuwat, Regional Portfolio Director - ASEAN, Informa markets and Country General Manager - Philippines, said that CPHI South East Asia 2024 has an ambitious goal of promoting pharmaceutical security in Thailand. This will also drive the country to become the medical hub of Southeast Asia with an international standard pharmaceutical production and high-potential exporters. The country's strengths are its excellence on medical services, affordability, and quality of the industry's specialists that also contribute to the highly-valued and comprehensive medical services.

In becoming the regional medical hub, the country needs to put forth strategic investment, especially in biomedical, biosimilar, biotechnology and medical equipment. Human resource development is highly important to ensure a sufficient supply of skilled talents to support the development of medical hub, and emphasize on the investment in innovation, research and development for new technologies, including high-tech equipment, robotic surgery equipment, and vital sign monitors, etc.

Thailand is already a leader in generic medicine producer. However, it has high potential to become the major producer of advanced and complicated medical products like biomedicine.

Despite high potential, Thailand continues to depend heavily on imported medicines. Approximately 225 billion baht or 65% of the total medicines in Thailand is imported medicines while the remaining 35% is locally produced. The majority of locally produced medicines are downstream products and generic medicines whose original patents have already expired. The showcase of innovative pharmaceutical products at CPHI South East Asia 2024 will help improve the standard in pharmaceutical and packaging products in Thailand and the Southeast Asia region.

"We expect the innovations from 400 exhibitors at the event will demonstrate the true potential of Thailand's pharmaceutical industry and its product safety and quality that are very high. CPHI South East Asia 2024 will serve all the needs for pharmaceutical industry through the business negotiations, exhibitions at the International Pavilion, and seminars that will open up new business opportunities and increase competitiveness. In the end, the country's overall economic value will be boosted," said Rungphech.

Ms. Lalana Setasuban, President of the Thai Pharmaceutical Manufacturers Association (TPMA), said that the association has seriously been promoting the development of Thai pharmaceutical industry in all aspects to ensure sufficient supply in the domestic market. By joining CPHI South East Asia 2024, the association believes this will enable its members to have easy access to new technology and business opportunity to reach new markets through connection with local and international investors.

Mr. Surachai Ruengsuksilp, Chairman of the Pharmaceutical Industry Club, the Federation of Thai Industries, and Managing Director of Community Pharmacy Public Company Limited, a leading manufacturer of pharmaceutical and healthcare products commented that Thai pharmaceutical industry has enjoyed continuous growth. To support this trend, Community Pharmacy has continuously developed new molecular pharmaceutical products with higher efficacy and safety whose patents will soon expire. This will increase Thai consumers' accessibility to such medicines. This will reduce financial burden of senior patients who currently account for over 14% of Thai population and is expected to increase to 28% in the next six years. The rapid growth of senior population will drive the needs for pharmaceutical products and treatment for non-communicable diseases (NCDs).

Community Pharmacy PCL is committed to supporting the development of Thailand as the medical hub of Southeast Asia region. The company's participation in CPHI South East Asia 2024 is part of this mission that provides opportunity for the company to showcase its R&D capability. The company will also introduce the latest anticoagulants - Apixaban 2.5 mg, an Apixaban 5 mg, confirming its high capability and strength as one of a few local companies with the capability to manufacturer such advanced medicine.

Ms. Parichart Cleawplodtook, Expert Class 10, Sales Division, The Government Pharmaceutical Organization (GPO), explained that the number of locally produced medicines in Thailand is quite limited although producers have international manufacturing standard and are widely recognized for their capability. This is because the country relies heavily on imported raw materials. Only effective planning on pharmaceutical security will reduce dependence on raw material imports while increasing competitiveness and self-reliance. To achieve this goal, R&D is required for the industry to enhance innovation capability, especially in biopharmaceutical product manufacturing.

Highlights at CPHI South East Asia are the exhibition of the world's latest innovations, access to new raw materials, and knowledge update by the business and medical sector. Participants will enjoy the latest medical innovations and technology, advanced medical lab equipment, and plenty of networking opportunities. Most importantly, the event is poised to support locally produced medicines to create long-term pharmaceutical security for Thailand.

Participants will include scientists, researchers, machinery importers and distributors, packaging manufacturers and local pharmaceutical operators who are looking for opportunity to create and expand businesses in Thailand and 21 other countries, such as Cambodia, China, Myanmar, Malaysia, Laos, Vietnam, Hong Kong, etc.

Other highlights are the symposium and seminars that host the world's leading medical and lab equipment companies and a chance to grow network with over 400 leading companies in 50 countries worldwide. At the International Pavilion, leading companies from Germany, Switzerland, Poland, China, South Korea, the UK, the US, Brazil, Singapore and Indonesia will join and showcase their latest technology and products.

CPHI South East Asia 2024 will be held from 10-12 July 2024, at Hall 103, Queen Sirikit National Convention Center. Registration to visit, click www.cphi.com/sea

Source: Make a Wealth Consulting