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Vietnam Medi Pharm Expo 2017 underway

Released at: 21:01, 18/08/2017

Vietnam Medi Pharm Expo 2017 underway

Photo: Hong Nhung (VET)

Exhibition on pharmaceuticals and medical equipment being held in HCMC from August 17 to 19.

by Khanh Chi

The 24th Vietnam Medi Pharm Expo is being held from August 17 to 19 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City’s District 7 by the Vietnam National Trade Fair & Advertising Company (VINEXAD), providing a platform for enterprises who want to seize opportunities in Vietnam’s emerging pharmaceutical and medical market.

This year’s exhibition gathers together around 250 foreign enterprises from 22 countries and territories, showcasing high-tech medical products from Japan, pharmaceutical and experimental devices from India, cosmetic surgery equipment from South Korea, and laser and biological technologies from Singapore.

According to the European Chamber of Commerce in Vietnam (EuroCham), Vietnam’s medical equipment market is currently estimated to be worth $465.4 million and is expected to grow to $1.4 billion by 2018. Due to its developing economy, incomes are increasing, leading to higher demand for healthcare and modern medical equipment.

Vietnam only has about 50 medical device manufacturers licensed by the Ministry of Health (MoH), supplying about 600 products, most of which are simple machinery and insufficient to meet market demand.

With some 1,000 medical equipment enterprises operating in the country, the volume of imported medical equipment has increased over the years. The MoH, however, only authorized the import of medical equipment in 3,997 orders in 2012, 4,205 in 2013, and 5,500 in 2014.

According to the MoH, the proportion of imports in the market now stands at about 90 per cent. Major suppliers are from Japan, Germany, the US, China, and Singapore, which together account for 55 per cent, while investment in hi-tech medical equipment is concentrated mainly in big hospitals in major cities like Ho Chi Minh City, Hanoi, Hue, Da Nang, and Can Tho.

Vietnam’s pharmaceutical sector recorded strong growth among Southeast Asia countries in 2016, providing substantial opportunities. The market was worth $4.2 billion in 2015, with growth during the 2010-2015 period being 17 to 20 per cent and an expected 17 per cent or more this year. Spending per capita is $40.

According to analyses from enterprises in the field of medical equipment production in Ho Chi Minh City, with development and expansion plans for hospitals and medical facilities in many localities the potential for investment is enormous. Investment in upgrading medical equipment at hospitals in Ho Chi Minh City alone over the next three years is in the order of $900 million to $1 billion.

The annual Medi Pharm Expo has therefore received a great deal of attention from domestic and foreign manufacturers and businesses. It’s 16 years has seen many trade promotion activities, contributing significantly to trade links between enterprises in the industry.

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