10 November 2021 | News
CPhI Pharma Index reaches record high as pharma confidence in growth rises in all markets
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CPhI Worldwide – hosted in-person at Fiera Milano, Italy (9-11 November, 2021) – opened its doors to international pharma for the first time in two years as industry confidence surges to record highs according to executives in the CPhI Annual Survey.
The survey insights are published as part of the CPhI Annual Report – which is launched each year at CPhI Worldwide – and compile the thoughts of over 370 executives from more than 30 countries.
The CPhI Pharma Index, a composite average of the main small molecule categories surged by 3.5% in 2021 to reach its highest ever score. The Index is an effective barometer of pharma’s overall outlook and confidence, and the scores for all pharma economies improved from 2020 – with China (7%), India (5%) and the USA (5%) the biggest gainers. In Europe, Spain (4%) and CPhI Worldwide host nation, Italy (4%) saw the largest improvements in score.
In terms of ‘growth potential’ in 2022, leading the way is the United States (7.47), which for the first time in the survey’s three-year history will surpass both India (7.46) and China (7.25) – the leading nations from the preceding two years.
The United States also saw the largest year-on-year percentage rise in its ‘growth potential’ out of all major pharma economies at 10.5%. The results suggest that the country is set to reap the rewards of the expanding R&D pipeline, vaccine contracts and a recent desire to increase support and funding for domestic manufacturing. In addition, the survey data also showed that US and Western European contact services companies were perceived as ‘the biggest winners of macro changes in sourcing’.