Expect higher prices, limited availability of materials in 2022: CPhI Worldwide
CPhI Worldwide has released its look-ahead report for 2022, bringing together input from more than 350 pharmaceutical executives and insights from 10 CPhI contributors. The predictions offered in the report include increasing prices, limited availability, delayed deliveries, and other issues experienced in 2021.
“The pharmaceutical industry made some outstanding progress in 2021 in how it managed to speed up time to market and eke out efficiencies along the supply chain in order to meet the huge demand for COVID vaccines,” said Tara Dougal, head of content and insights for pharma with Informa Markets. “The CPhI Pharma Trends 2022 Report not only addresses some of the major tensions and obstacles that the industry will face in 2022 but also the innovative solutions that it is developing to overcome them.”
Report findings also foretell more than 30 drug approvals (and as many as 50) by the US Food and Drug Administration (FDA). Also, the experts advise, the industry should see more than five commercial COVID-19 vaccines (contributing to CDMO production constraints and resulting in increased margins and profits) and high growth rates in mRNA, advanced therapies, and biologics.
Among the predictions offered by contributing experts:
- Stephan Schmidinger, partner at Kemiex, said the first half of the year will bring numerous issues around raw materials, including an increase in cost, reduced availability, delayed deliveries, and more.
- Manjit Singh, chair of the Pharmaceutical Supply Chain Initiative (PSCI) anticipated an increase in sustainable sourcing, in addition to an acceleration of transparency and sustainability strategies.
- Yasemin Bettina Karanis, senior consultant for thought leadership IQVIA, predicts home administration will continue to increase, and device manufacturers will be tasked with demonstrating the value of their devices.
Further, the report imparts that 25% of industry respondents believe there could be 10 or more approvals of new COVID-19 vaccines in the coming year. About 45% of the respondents expect 5 to 10 approvals, and 29% believe there will be up to 5 such approvals.
Report contributors also recommend keeping an eye out for significant regulatory changes, especially as the European Union tackles its once-in-20-years pharma policy revisions. with Adrian van den Hoven, director of general medicines for Europe, suggests the COVID-19 pandemic has “sprung” European policymakers to address a number of long-present issues.
