Korea Medical Device Exhibition Hall Sees Success at Thailand Medical Device Exhibition
The Korea Health Industry Development Organization, in partnership with the Ministry of Health and Welfare, recently showcased the Korea Medical Device Integrated Exhibition Hall at the Thailand Medical Equipment Exhibition held from the 13th to the 15th. The exhibition, which received government support, yielded excellent results, with contract promotion consultations totaling $6.35 million.
Boosting Business Opportunities
The Korea Medical Device Integrated Exhibition Hall garnered significant attention at the Thailand Medical Equipment Exhibition – the largest international medical device exhibition in Southeast Asia. With participation from 800 companies across 22 countries, including Korea, China, Taiwan, Japan, and Indonesia, the exhibition served as an effective platform for showcasing a wide range of medical devices from medical consumables to surgical devices and in vitro diagnostic devices.
The Korean Medical Device Exhibition Hall, organized by the Promotion Agency, specifically targeted medical professionals, such as those working in operating rooms and digital healthcare. This approach attracted seven companies to participate, including Gems Healthcare, Miga Station, Daesung Maref, Mirae Company, Myco Biomed, Sergenus, Daesung Maref, and Yes Biotech.
Positive Results and Prospects
Companies participating in the Korea Medical Device Integrated Exhibition Hall reported substantial promotional success. One representative from Company A mentioned that their display at the booth captured greater attention than ever before, resulting in increased sales compared to when they participated individually in previous exhibitions. They also expressed confidence in achieving excellent export results in the future.
Another participating company revealed that their primary export markets were Europe and the Americas. However, participation in the Korean Medical Device Integrated Exhibition allowed them to connect with numerous buyers from Southeast Asia, an otherwise challenging market to penetrate. Furthermore, they signed a significant contract with a buyer from Thailand and anticipated further consulting inquiries and export opportunities after the exhibition.
Importance of International Exhibitions
Given that the domestic medical device industry predominantly relies on exports, participation in foreign exhibitions plays a vital role in discovering foreign buyers and distribution channels. Last year, the production amount of the medical device industry in South Korea reached 15.737 trillion won, with exports contributing over 66% at 10.174 trillion won.
Hwang Seong-seong, head of Korea’s Medical Device and Cosmetic Industry Division, emphasized the importance of the Korea Integrated Medical Device Exhibition Hall as a means of evaluating and understanding the needs of medical professionals. This unique approach, backed by continuous support from the Ministry of Health and Welfare and the Promotion Agency, sets it apart from other exhibition support projects. Looking forward, generous support for domestic companies’ participation in international exhibitions is expected, especially in maintaining existing business relationships and developing new sales channels amidst the ongoing COVID-19 pandemic.
Korea Medical Device Exhibition Hall Booth 0 Korea Integrated Medical Device Exhibition Hall hosted by the Korea Health Industry Development Organization at the Thailand Medical Device Exhibition on the 13th to the 15th. The Korea Medical Device Integrated Exhibition Hall, which participated in the Korea Health Industry Development Organization, Thailand Thailand Medical Fair 2023 with the support of the government, is expected to achieve the results of a contract promotion consultation of $6.35 million.
The Korea Health Industry Development Organization, together with the Ministry of Health and Welfare, announced on the 26th that it opened an integrated exhibition hall at the Thailand Medical Equipment Exhibition held from the 13th to the 15th and held 58 contract promotion consultations.
The contract promotion consultation counted all the cases where a contract was completed on site or where a future discussion was promised. Including general consultations on medical device licensing, etc., a total of 142 cases were held.
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 and displayed various items of medical devices such as medical consumables, surgical devices, and in vitro diagnostic devices.
Korean Medical Device Exhibition Hall prepared by the Promotion Agency in this exhibition focused on medical staff, who are actual users of medical devices such as operating rooms and digital healthcare. Seven companies participated in the integrated exhibition hall, including Gems Healthcare, Miga Station, Daesung Maref, Mirae Company, Myco Biomed, Sergenus, Daesung Maref, and Yes Biotech.
An official from Company A, who participated in the Korea Medical Device Integrated Exhibition Hall, said, “We were able to achieve a great promotional effect by displaying various domestic products at the Korea Medical Device Integrated Exhibition Hall booth, and we received more attention than ever. we participated on our own in the past, so we got more sales than before.” “We held consultations,” he said, adding, “Export results are expected to be excellent in the future.”
An official from another participating company said, “Our company mainly exports to Europe and the Americas, but by participating in this Korean Medical Device Integrated Exhibition, we were able to meet many buyers from Southeast Asia, where we had a few promotional opportunities,” and added, “We have signed a major contract with a buyer from Thailand. “We are looking forward to exporting results as we have continued to receive consulting inquiries not only after the signing but also after the exhibition,” he said.
The domestic medical device industry is an export-driven industry, with more than 66% of production exported. That is why it is important for domestic companies to participate in foreign exhibitions to discover foreign buyers and distribution channels and to connect with foreign buyers. According to the Ministry of Food and Drug Safety, the production amount of medical device industry last year was 15.737442 trillion won and the export amount was 10.174528 trillion won.
Hwang Seong-seong, head of Korea’s Medical Device and Cosmetic Industry Division, said, “Since the evaluation and use experience of medical staff, who are actual users (of medical devices), is important, the Ministry of Health and Welfare and the The Promotion Agency continued to support the Korea Integrated Medical Device Exhibition Hall, which is different from existing exhibition support projects.” “We will strive to provide generous support for the participation of domestic companies in international exhibitions, as there is a greater need to maintain existing business relationships and develop new sales channels after COVID-19,” he said.
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