Expo to attract displays from medical enterprises worldwide hoping to share in Vietnam's growing medical market.
One hundred and fifty enterprises from 16 countries will attend the 22nd Vietnam Medical, Hospital & Pharmaceutical Exhibition (Vietnam Medi Pharm Expo 2015) in Hanoi from December 2-4 at the Hanoi International Centre for Exhibition (ICE), 91 Tran Hung Dao Street, Hoan Kiem district.
The exhibition will provide opportunities for visitors to meet with major medical suppliers from the US, Germany, Greece, South Korea, Japan, and elsewhere, pharmaceutical exhibitors from India, Pakistan, and Bangladesh, famous optical and dental manufacturers from South Korea, Taiwan, and Singapore, and suppliers of food supplements, cosmetics, and aesthetic equipment from Japan, Singapore, and Thailand.
“This is the first time we have taken part in the exhibition and we intend to return to the next one,” a representative from The Paul Gerhardt Diakonie (PGD) in Berlin, Germany, said. “We hope to introduce the ‘PGD’ brand name to Vietnamese customers.”
PGD is an international high-standard medical healthcare provider specializing in life-threatening or complicated chronic diseases such as cancer, chirurgic surgical operations, and prosthetics. “We are also ready for medical cooperation between Vietnamese and German clinics, when Vietnamese medical professors choose to organize additional expert healthcare for seriously ill patients,” she added.
Products displayed at the exhibition will include pharmaceuticals, food supplements, manufacturing and packaging machinery, medical and laboratory products, healthcare and treatment services, cosmetics, beauty-care and aesthetic products, dental equipment and materials, and ophthalmologic and optical products.
Vietnam is emerging as an attractive destination for pharmaceutical investors as the market has huge demand for medical equipment and demand will increase in the coming years, according to insiders. A recent report from the Ho Chi Minh City Medical Equipment Association showed that sales revenue of Vietnamese medical equipment is estimated at $800 million per year and could reach $1.2 billion in 2016. The growth in the country’s medical equipment industry as a whole is quite high, estimated at 18 per cent in the 2012-2017 period.
Ninety per cent of medical equipment used in Vietnam is imported from the US, Japan, and Germany. Under the Ministry of Health’s vision to 2018, domestic medical equipment will account for 60 per cent of the market. Insiders, however, said that local manufactures are providing simple products such as beds, bedside cabinets, cotton, bandages, gauze, and needles. Complicated equipment such as x-rays, ultrasound and electrocardiogram equipment are imported or produced by foreign companies.
The TPP will also boost growth in Vietnam’s pharmaceutical sector by some 20 per cent per year from now to 2017, with pharmaceutical spending per capita of about $200 per year, according to Mr. Nguyen Thanh Binh, General Director of the Hanoi CPC1 Pharmaceutical JSC (CPC1 Hanoi). Tariffs on pharmaceuticals imported into Vietnam will be cut from 2.5 per cent to 0 per cent when the TPP comes into effect. Vietnamese people generally have a preference for foreign pharmaceuticals, creating great opportunities for foreign pharmaceutical manufacturers to win more customers, according insiders.
With support from the Ministry of Health and the Ministry of Industry and Trade, Vietnam Medi Pharm Expo 2015 is expected to be a bridge for medical and pharmaceutical companies to reach potential customers.
The exhibition is expected to welcome about 12,000 visitors, including specialists, manufacturers, traders, organizations, doctors, and dentists, among others.