Korea Achieves Successful Results at Thailand Medical Fair
By [Author Name]
In an impressive display of strength and innovation, the Ministry of Health and Welfare, along with the Korea Health Industry Development Organization, has achieved outstanding results at the Thailand Medical Fair. This annual event, held in Bangkok, is the largest international medical device exhibition in Southeast Asia.
With participation from 800 companies representing 22 countries, including Korea, China, Taiwan, Japan, and Indonesia, the exhibition showcased a diverse range of medical consumables, surgical devices, and in-vitro diagnostics. Of particular note were the contributions of seven domestic medical device companies, such as Gems Healthcare, Migagyo Station, and Daesung Maref, who presented their cutting-edge technology at the Korea Medical Device Integrated Exhibition Hall.
One participating company, known as Company A, expressed their satisfaction with the exhibition. Having participated in the Thailand medical device exhibition in the past, they noted the benefits of the Korea Medical Device Integrated Exhibition Center. By consolidating various domestic products within one booth, the center effectively promoted these innovations, leading to potential export opportunities in the future.
Similarly, Company B revealed their success in entering South East Asian markets through the Korea Medical Device Integrated Exhibition. While the company primarily focused on exporting to Europe and the Americas, their participation in this exhibition allowed them to engage with buyers from this region, resulting in a significant contract and ongoing consulting inquiries.
The Korea Medical Device Integrated Exhibition Hall, a key initiative supporting domestic companies’ international expansion, plays a crucial role in connecting them with overseas distribution channels and buyers. By differentiating itself from traditional demonstration support projects, the exhibition highlights the excellence of domestic medical devices to actual users – medical professionals.
Since 2019, the promotion agency has provided support for major international medical device exhibitions, facilitating the participation of 308 companies in the Korea Integrated Medical Device Exhibition Hall. These endeavors have led to 4,608 consultations and 370 export contract promotions.
Hwang Seong, head of the Medical Device and Cosmetic Industry Division of the Promotion Agency, emphasized the importance of international exhibitions for the export-led domestic medical device industry. Identifying the significance of user feedback, Hwang explained that the “Korea Medical Device Exhibition Hall” aims to incorporate the experiences of medical staff, setting it apart from existing demonstration support projects.
Despite the challenges presented by COVID-19, the Promotion Agency is committed to sustaining existing customer relationships while expanding into new markets. Recognizing the evolving market demands, they pledge generous support for the participation of domestic companies in international exhibitions.
As Korea’s medical device industry continues to excel globally, events like the Thailand Medical Fair serve as platforms for showcasing innovation, forging partnerships, and driving export success.
The Ministry of Health and Welfare (Minister Cho Kyu-hong) and the Korea Health Industry Development Organization (Director Cha Sun-do) held 142 consultations, 58 contracts worth about 13.15 million dollars, and 6.35 million in the 2023 Thailand Medical Fair and held on the 13th to 15. It was announced on the 26th that the performance of the dollar contract had been achieved.
The Thailand Medical Device Exhibition is the largest international medical device exhibition in Southeast Asia held in Bangkok, Thailand. About 800 companies from 22 countries, including Korea, China, Taiwan, Japan, and Indonesia, participated. in this exhibition, displaying medical consumables, surgical devices, and in vitro diagnostics Various items of medical equipment, including devices, were presented.
Seven domestic medical device companies, including Gems Healthcare, Migagyo Station, and Daesung Maref, participated in the Promotion Agency’s Korea Medical Device Integrated Exhibition Hall. During the exhibition period, the excellent technology of domestically produced products attracted great interest from local medical staff.
An official from Company A, a company participating in the Korea Integrated Medical Device Exhibition, said, “We have had the experience of participating in the Thailand medical device exhibition in the past as a company with an independent booth.” He added, “The Korea Medical Device Integrated Exhibition Center gathers and displays various domestic products in one booth to achieve a great promotional effect. before, so we expect export results to be better in the future.”
In addition, an official from Company B said, “Our company mainly exported to Europe and the Americas, but by participating in this Korean Medical Device Integrated Exhibition, we were able to meet many buyers from South east Asia, where we had relatively little promotion. opportunities,” and “As a result, we got buyers from Thailand.” “Not only did we sign a major contract, but we are receiving ongoing consulting inquiries even after the exhibition, so export results are expected,” he said.
‘Korea Medical Device Integrated Exhibition Hall’ is a project that supports participation in international exhibitions for domestic companies to enter overseas markets, reflecting the characteristics of the medical device industry, where participation in exhibitions is essential to discover overseas distribution channels and buyers It operates operating rooms, digital healthcare, etc. Based on the concept, it distinguishes itself from existing demonstration participation support projects by promoting the excellence of domestic products to real users, medical staff.
Since 2019, we have supported major international medical device exhibitions such as Arab Health, KiMES, and MEDICA more than 4 times a year, and up to this exhibition, a total of 308 companies participated in the Korea Integrated Medical Device Exhibition Hall, achieving 4,608 consultations and 370 export contract promotions.
Hwang Seong, head of the Medical Device and Cosmetic Industry Division of the Promotion Agency, said, “The domestic medical device industry is an export-led industry where more than 66% of production is exported, and it very important for domestic companies. to participate in foreign exhibitions to discover foreign buyers and distribution channels.”
In addition, Director Hwang said, “Since it is important to evaluate and use the experience of medical staff who are actual users, the Ministry of Health and Welfare and the Promotion Agency have continued to support the ‘Korea Medical Device Exhibition Hall’, which unlike existing demonstration support projects.” He added, “After COVID-19, we have maintained existing customers and created new ones.” “As the development of the market becomes more necessary, we will strive to provide generous support for the participation of domestic companies in international exhibitions,” he said.
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