The success of the region’s leading pharmaceutical technology and innovation trade show, CPHI South East Asia 2024, will continue and expanded as Malaysia takes the baton from Thailand as the host of the event.
YB Dato’ Sri Reezal Merican Naina Merican, Malaysia External Trade Development Corporation (MATRADE)’s Chairman, said during the MOU signing ceremony between MATRADE and Informa Markets, the organizer of the trade show, that Malaysia was honored to host the CPHI South East Asia next year.
The move will support Malaysia’s New Industrial Master Plan 2030 (NIMP 2030) which is aimed to boost the country’s economy, investment and manufacturing sector with an ambitious goal to boost GDP of the manufacturing sector by 6.5%. Under this plan, the pharmaceutical as well as medical and devices industries will play a key role in creating new jobs and expanding new industry cluster.
Hosting CPHI South East Asia in Malaysia will create new opportunities for networking, knowledge sharing and showcase of interesting innovations.
“The event will significantly promote sustainable growth for the industry and Malaysian economy in the future,” he said.
CPHI South East Asia is a major event in the medical and devices industry that promotes pharmaceutical security, increases accessibility to high quality pharmaceutical products and elevates Thai pharmaceutical industry as the healthcare and medical hub of ASEAN.
YB Dato’ Sri Reezal Merican Naina Merican added, to support the industry growth, the Malaysian government will provide comprehensive outlook of the dynamism of the country’s healthcare industry and the strategic platform for promoting and showcasing the latest Malaysian healthcare products and services.
Healthcare industry is a big industry with high potential. In 2023, Malaysia’s total trade in the healthcare industry was USD 11.1 billion Healthcare product export amounted to USD 6.81 billion while total imports totaling USD 4.29 billion. The medical devices industry has employed over 13,000 individuals and the pharmaceutical industry has provided job for almost 30,000 people
Malaysia expects the medical and devices sector to contribute USD 4.91 billion to its economy in 2024 while the pharmaceutical industry contributes over USD 1.26 billion to Malaysia’s GDP.
Ms. Rungphech Chitanuwat, Regional Portfolio Director – ASEAN, Informa Markets and Country General Manager – Philippines noted that the cooperation between the company and Malaysia will contribute to the medical and pharmaceutical industry development in the region.
She added CPHI South East Asia brought together over 400 brands from 50 countries, such as the Philippines, Myanmar, Indonesia, Singapore, Vietnam and Cambodia. It showcases healthcare and medical innovations from 10 related industry profiles, including reactants, medicine, herbal medicine, machinery, packaging, testing equipment, OEM, logistics, warehouses, chemicals and natural extracts.
Through networking, technology and innovation showcases, and knowledge and experience sharing, the event plays a key role in supporting the region’s healthcare industry development.
“Healthcare is a high potential sector across ASEAN. As the number of elder population is increasing constantly, the entire region is becoming an aged society in 2040. This means higher occurrence of non-communicable diseases (NCDs). Therefore, pharmaceutical and medical security is highly important. CPHI South East Asia is pleased to help addressing this issue for the better quality of the people,” said Rungphech.
In Thailand, CPHI South East Asia 2024, significantly contributed to Thailand’s pharmaceutical security, industry development and people’s access to high quality products. It is expected to attract 18,000 visitors and provide business matching opportunity for around 2,000 businesses during the three-day event. This will in the long run support Thailand’s strategic plan to become ASEAN’s largest and fastest growing medical hub.
