Vietnam Medipharm Expo 2024 to open in Ho Chi Minh City

The 22^nd Vietnam Medipharm Expo 2024 is expected to 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 meters, will feature large national pavilions from countries such as India, South Korea, Indonesia, Latvia, Sri Lanka, Turkey, and China.

Vietnam Medipharm Expo 2023

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, Kosmen JSC, Galaxy water solutions, and FPT Software. The exhibition will feature world-renowned brands such as Global Swiss Group, ARIES AS (Czech Republic) and SGH MEDICAL PHARMA (France).

Moreover, Vietnam Medipharm Expo 2024 will organise 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 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.

The exhibition is organised by Vinexad JSC, and Ho Chi Minh City Medical Equipment Association under the ownership of the Ministry of Health as a bridge to bring opportunities for business cooperation and expansion.

This year’s event continues to receive support from government-backed enterprises such as the Korean National Institute of Medical Development, Pharmaceuticals Export Promotion Council of India, the Federation of Indian Chambers of Commerce and Industry, the Investment and Development Agency of Latvia, and the Sri Lanka Export Development Board.

In 2023, Vietnam Medipharm Expo 2023 welcomed 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, exam and treatment services, and medical tourism.

According to a report by Mordor Intelligence, the global medical device market size is expected to grow from $637.04 billion in 2024 to $893.07 billion in 2029, with an annual growth rate of 6.99 per cent.

The medical device market in Vietnam is also showing strong growth signals, with a market size of $1.677,4 million, ranking eighth in the Asia-Pacific region, and an annual compound growth rate of 10.2 per cent. Additionally, this sector has been attracting substantial foreign investment through mergers and acquisitions.

The boom in the business and manufacturing market for medical and pharmaceutical products and services is driven by several factors. Firstly, the population of ageing is on the rise. According to the General Statistics Office of Vietnam, the population group aged 60 and above increased from 11.9 per cent in 2019 to 13.9 per cent 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, such as the National Strategy for the Development of the Vietnamese Pharmaceutical Industry towards 2030, approved in October 2023, and the Plan for Developing the Network of Medical Facilities for 2021-2030, approved in February 2024.

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