HANOI, VIETNAM - Media OutReach Newswire - 9 July 2024 - As the most anticipated annual event in the Health industry, the 22nd International Medical, Hospital and Pharmaceutical Exhibition - Vietnam Medipharm Expo 2024 - will officially take place from August 1 to 3, 2024 at the Saigon Exhibition and Convention Center (SECC) - 799 Nguyen Van Linh Street, District 7, Ho Chi Minh City.
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The exhibition is organised by Vinexad JSC. and Ho Chi Minh City Medical Equipment Association (HMEA) under the ownership of the Ministry of Health as a bridge to bring opportunities for cooperation and business expansion for businesses operates in the field of medicine and pharmacy, an industry with huge potential for development in Vietnam. Products and Services in the Medical and Pharmaceutical Sector have Long-term Development Potential According to a report by Mordor Intelligence, the global medical device market size is expected to grow from USD 637.04 billion in 2024 to USD 893.07 billion in 2029, with an annual growth rate of 6.99%.
The medical device market in Vietnam is also showing strong growth signals, with a market size of US$1.677 million, ranking eighth in the Asia-Pacific region, and an annual compound growth rate (CAGR) of 10.2%. Additionally, this sector has been attracting substantial foreign investment through mergers and acquisitions (M&A).
The Boom in the Business and Manufacturing Market for Medical & Pharmaceutical Products and Services is Driven by Several Factors
Firstly, the population aging trend is on the rise. According to data from the General Statistics Office of Vietnam, the population group aged 60 and above increased from 11.9% in 2019 to 13.9% in 2023, correlating with chronic diseases and age-related illnesses, which frequently require healthcare services.
Secondly, the standard of living is improving, not only in urban areas but also in rural areas. People are increasingly willing to invest significant amounts of money in purchasing health-enhancing products and equipment.
Thirdly, Vietnam has numerous policies attracting foreign investors and encouraging technology transfer. For example: The National Strategy for the Development of the Vietnamese Pharmaceutical Industry until 2030 with a vision to 2045, approved in October 2023, and the Plan for Developing the Network of Medical Facilities for the 2021-2030 period with a vision to 2050, approved in February 2024.
Overall, it can be seen that the medical and pharmaceutical sector is always a potential field attracting the interest of many businesses. Specialised exhibitions like Vietnam Medi-Pharm Expo 2024 provide opportunities for businesses in this field to interact, exchange, promote their products and services, and expand their network of customers and partners. This is where businesses can seek cooperation opportunities, develop their business, and enhance their market position.
Vietnam Medipharm Expo in HCMC: Over 20 Years of Supporting Businesses
For over 20 years, The Vietnam Medipharm Expo in HCMC has established its reputation and quality, expanding its scale and increasing the number of exhibitors each year.
Most recently, Vietnam Medipharm Expo 2023 achieved outstanding results, welcoming over 12,000 visitors. The exhibition showcased a wide range of products across various sectors, including pharmaceuticals, pharmaceutical manufacturing and packaging machinery/equipment, medical equipment, analytical and laboratory devices, dental equipment, ophthalmic technology and products, cosmetic and beauty devices, medical examination and treatment services and medical tourism.
The success of Vietnam Medipharm Expo 2023 is a proud milestone for the organizer, Vinexad, and serves as a foundation for Vietnam Medipharm Expo 2024 to continue being the most anticipated international medical and pharmaceutical exhibition.
The 22nd International Medical, Hospital and Pharmaceutical Exhibition – The Most Anticipated Annual Event in the Healthcare Sector
The 22nd International Medical, Hospital and Pharmaceutical Exhibition - Vietnam Medipharm Expo 2024 will gather over 500 booths from 450 enterprises across 22 countries and territories. This year's exhibition, covering an area of up to 10,000 square metres, will feature large national pavilions from countries such as India, Taiwan, South Korea, Indonesia, Latvia, Sri Lanka, Turkey and China.
The number of display categories will still include six main groups, which are: pharmaceuticals, functional foods and chemicals; processing, and packaging machinery; medical machinery and equipment, analytical and laboratory equipment; hospital services, medical tourism and medical software; dental and ophthalmic equipment; cosmetics, beauty, and aesthetic equipment. Noteworthy participants include reputable domestic businesses in the healthcare sector such as NQ MEDICAL CORPORATION, KOSMEN JOINT STOCK COMPANY, THANH TRUC MEDICAL AESTHETIC EQUIPMENT CO., LTD., GALAXY WATER SOLUTIONS TRADING CO., LTD., FPT SOFTWARE, ...
Especially, the exhibition will feature world-renowned brands such as SHENYANG PUSM MEDICAL DEVICE CO., LTD (China), ARIES AS (Czech Republic), SGH MEDICAL PHARMA (France), BAL PHARMA LIMITED (India), IPP JAPAN CO., LTD (Japan), APACOR (UK), GLOBAL SWISS GROUP, and more.
The gathering of numerous prominent brands underscores the exhibition's appeal, proving the trade promotion effectiveness that the event has brought to businesses over the past 20 years. The exhibition is also an opportunity for domestic products to be displayed alongside international brands, enhancing and affirming the position of Vietnamese enterprises.
Thanks to the results achieved from the 2023 exhibition, this year's event continues to receive support from government-backed enterprises such as NIKOM (Korean National Institute of Medical Development), PHARMEXCIL (Pharmaceuticals Export Promotion Council of India), FICCI (Federation of Indian Chambers of Commerce and Industry), LIAA (Investment and Development Agency of Latvia) and EDB (Sri Lanka Export Development Board).
Moreover, Vietnam Medipharm Expo 2024 will organize high-profile activities for businesses, such as the "Medtech 4.0" seminar, the business exchange forum "Vietnam - India Pharmaceutical Cooperation," and discussions on "Bidding Laws and Updated Policies, Vietnam's Medical and Pharmaceutical Market." Each activity serves as a bridge for entrepreneurs and business leaders to meet, exchange experiences, and move towards sustainable cooperation in the future.
Additionally, the 2024 International Medical and Pharmaceutical Exhibition will welcome thousands of visitors to explore and experience a wide range of products, participate in check-in activities to receive gifts, get free eye exams, and more. This allows visitors to choose healthcare brands that suit their needs.
With its practical significance, the 22nd International Medical, Hospital and Pharmaceutical Exhibition - Vietnam Medipharm Expo 2024 promises to bring many valuable contracts, long-term business relationships, and cooperation opportunities. It also provides Vietnamese enterprises with the chance to understand market demands, enhance their competitiveness in the international market.
Vietnam Medipharm Expo 2024 will officially take place from August 1 to 3, 2024, at the Saigon Exhibition and Convention Center (SECC) - 799 Nguyen Van Linh Street, District 7, Ho Chi Minh City