CPHI Annual Survey Provides Insight on Global Pharma Resilience

Ahead of CPHI Barcelona, to be held October 24-26th, and CPHI & PMEC India to be held in Delhi November 28-30, key highlights from the CPHI pharma survey provide forward-looking insights on pharma bushiness confidence in the year ahead with insights from more than 250 global pharma executives. In line with wider market sentiments, pharma confidence has dipped below the record scores of 2022, but has remained resilient despite wider macro uncertainly.
 
The CPHI Pharma Index – a collateralized metric of all small molecule categories in the survey – reported its second highest ever total, just 2.5% down on the 2022 all-time high. This positive result highlights the medium-term trajectory of the industry and the underlying strength of market fundamentals.
 
The U.S. remained the top overall ranked nation, with India continuing to make year-on-year growth, particularly as the country moves from a generic focused industry to increasingly supporting global innovators.
                                      
According to the report, India remained top of the ‘growth category’ for the second year running (scoring 7.8 out of 10). The country also saw improvements in its score for ‘biologics quality’ and finished only narrowly behind the U.S. for ‘overall competitiveness’. Consequently, the report predicts India is undergoing an accelerating transformation from a generics hub to an innovation focused pharma economy, driven by the incremental steps of its largest CDMOs. India is also predicted to the see the fastest CAGR in biologics over in the next five years, as it builds a biologics CDMO base similar to those in China and Korea.
 
“When you look collectively at the data points in the Annual Survey, you see that after a reset from record scores in 2022 – when many reported record profits – the industry is now well positioned for growth in 2024,” said Tara Dougal, Content Director – Pharma.
 
The report identified that many of the industry’s growth drivers in 2019 are still present, but are now supplemented by the breakthroughs in microbiome therapeutics, mRNA, and now AI increasingly likely to drive new efficiencies for the industry over the next five years.
 
Dougal added, “Our analysts predict outsourcing will continue its growth trajectory in 2024 and beyond – which is obviously a tremendously positive message for the industry as we approach CPHI Barcelona. It is also why we have ensured that ‘outsourcing strategies’ are a central theme of this year’s content, and the overall takeaway is of quiet and confident optimism. In fact, this will remain an ongoing theme for CPHI content, helping our audience to meet their objectives around partnering and supplier selection year-round.”
 
To download the full copy of the CPHI Annual Report, please visit this page after October 19th 2023.