News Letter

With the entry of the global bio industry, 2021 Bio and Pharmaceutical Global Conpex

The 2021 Bio and Pharmaceutical Incheon Global Conpex held for the first time in the form of a combination of exhibitions and conferences. The event was held simultaneously, including the 6th Bio and Pharmaceutical Incheon Global Conference, bio and pharmaceutical exhibitions, and global drug export consultations.

The biopharmaceutical market is expected to account for 37% of the total pharmaceutical market in 2026. According to Valuate Pharma, a global pharmaceutical market research firm, the global biosimilar market is expected to grow 12% annually to reach 20 trillion won by 2026.

Last year, the domestic drug trade balance achieved a surplus for the first time, of which finished drugs accounted for 79.6%, about 7.9308 trillion won. Celltrion led the export surplus with Truxima and Herzuma, the top export items of finished drugs.

In this exhibition, about 80 bio companies, including "Samsung Biologics," a global company,Pharmaceutical companies participated in the exhibition of their products and services such as bio-analysis and diagnosis, raw materials and finished drugs, and corporate investment counseling. In addition, products and technologies of the project and suppliers in the jurisdiction were introduced through the operation of Incheon's "Bio Raw Material Localization Supply Chain Special Hall" in connection with the Bio Raw Material Localization Promotion Meeting.

In addition, 50 pharmaceutical and bio companies nationwide and more than 100 buyers from 30 overseas countries (CIS, Middle East, Latin America, etc.) participated in the export consultation meeting aimed at expanding K-Bio exports.

The Incheon Metropolitan Government and the Incheon Chamber of Commerce and Industry are promoting localization support such as bio consulting, bio-localization information support, and network establishment to 20 companies in the region through the "Bio Raw Materials Localization Support Project" this year.