At CPhI Worldwide’s hybrid iteration (online until November 19, and in Milan November 9-11), conference organizers unveiled a survey intended to gauge how industry professionals feel about the future of their business. Respondents to the CPhI Annual Survey reportedly are showing record-high industry confidence, even in the face of COVID-19 and other formidable challenges.
The insights in the survey are part of the CPhI Annual Report, unveiled each year at CPhI Worldwide. This year’s survey reflects the thoughts and perspectives of more than 370 industry executives from more than 30 countries.
As reflected in the survey, the CPhI Pharma Index (a composite average of the main small molecule categories) increased in 2021 by 3.5%, reaching its highest-ever score. The metric serves as a barometer of the industry’s overall outlook and confidence; the scores for all pharma economies reportedly gained compared to 2020.
CPhI brand director Orhan Caglayan said the survey reflects a bullish attitude on growth in the coming year, as well as interest among industry professionals in forging new partnerships and expanding networks.
“Pharma has made incredible strides this year, and we anticipate that the partnerships the industry undertakes at CPhI Worldwide will drive record growth for pharma in 2022,” Caglayan said. ”The mood in the industry is extremely buoyant.”
The survey invited respondents to rate markets in terms of their 'growth potential' for 2022 at one to 10 (with 10 being the highest). The US topped the list at 7.47, for the first time in the survey’s three-year history passing India( 7.46) and China (7.25), the nations leading the previous years.
Additionally, the US had the highest year-on-year percentage increase in its growth potential out of all major pharma economies, coming in at 10.5%. According to CPhI, these results suggest the country is set to “reap the rewards” of its growing R&D pipeline, vaccine contracts, and surging interest in boosting domestic manufacturing.
“With CPhI Worldwide now underway, perhaps the most significant finding in addition to the surging outlook is that half of our respondents say – post-pandemic – they now begin their conversations with supply partners far, far earlier,” Caglayan added. “Ultimately, that’s what everyone is here to do at the event, and I encourage the industry to make full use of both the in-person exhibition and online partnering tools so that pharma can continue to grow, lower the cost of therapies and bring more medicine to patients globally.”
The fully CPhI Annual report is available to registered attendees. After it wraps, it will be hosted on cphi-online.com.
CPhI Worldwide 2021 is a hybrid event; the in-person component (expected to host up to 30,000 industry professionals with 1,400 exhibitors) takes place November 9-11 in Milan, and the digital content will be available until November 19. Read here to register or to see a list of sessions, event, and other features.