Global spending on medicines is expected to reach $1 trillion this year and is forecast to grow at 3 to 5 percent CAGR over the next five years, according to a recent study by the IMS Institute for Healthcare Informatics.
As the global pharmaceutical industry prepares for this growth, so does the debut edition of Pharma EXPO, co-located with PACK EXPO International 2014 from Nov. 2–5 at McCormick Place in Chicago.
“Particularly with the recent signing of H.R. 3204 into law, pharmaceutical manufacturers doing business in the U.S. are looking for the best ways to comply with new regulations on serialization and e-pedigree standards,” said Nancy Berg, president and CEO, International Society for Pharmaceutical Engineering (ISPE). “Pharma EXPO will be a forum where industry professionals address such issues, then discover solutions only a few steps away.”
Already 85 percent sold out months before its opening, the exhibition is co-produced by PMMI, the Association for Packaging and Processing Technologies, and ISPE, the world’s largest not-for-profit association leading scientific, technical and regulatory advancement throughout the pharmaceutical lifecycle.
“Counterfeiting, the current regulatory environment and an increasingly competitive global landscape all present new and more complex challenges than in the past,” said Charles D. Yuska, president and CEO, PMMI. “Our mission was to design Pharma EXPO to serve as a complete resource for industry professionals to find the ideas and tools needed to solve today’s and tomorrow’s challenges.”
To date, more than 160 solutions providers have committed to showcase their innovations for improving and enhancing the pharmaceutical lifecycle at Pharma EXPO.
The event will serve as a one-stop shop for solutions and insights critical to success in the pharmaceutical, nutraceutical, medical device and biotech industries. Its co-location with PACK EXPO International, North America’s largest resource for processing and packaging technologies, will also allow for an exchange of ideas between these sectors and the food, beverage and other industries served by PACK EXPO. Together, the shows are expected to attract 50,000 attendees and more than 2,000 technology supplier-exhibitors.
In addition, ISPE will produce a robust educational conference tailored to the specific needs of pharmaceutical manufacturers. Pharma EXPO’s Innovation Stage will supplement the conference sessions with additional presentations on industry issues and new technologies.