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A convergence of many leading enterprise of medical equipment

4/24/2018 2:00:03 PM
The 25th Vietnam International Exhibitions on Products, Equipment, Supplies for Pharmaceutical, Medical, Hospital and Rehabilitation – VIETNAM MEDI-PHARM 2018, from May 09 – 12, 2018 at Friendship Cultural Palace – 91 Tran Hung Dao St, Hanoi, Vietnam

The 25th Vietnam International Medical and Pharmaceutical Exhibition with the scale of 535 booths, 450 enterprises from 30 region and nation: India, Bangladesh, Belgium, Czech, Germany, Taiwan, Netherlands, Korea, U.S, Hong Kong, Indonesia, Israel, Malaysia, Japan, Philippines, Singapore, Thailand, Sweden, China, Finland, Russia, Poland, Vietnam…

Exhibition is a place to introduce the latest achievement of the world and Vietnam in Medicine and Pharmacy, promote policies, laws of the State in medical work, cooperation and investment. Also, Exhibition highlights the outstanding achievements of Vietnam medical industry in the last recent years in order to create opportunities for enterprises and organizations to promote their products, exchange experience, taking investment chance, expands market shares, create joint venture, transfer technology, improve efficiency in production process, manufacturing and trade.

Overview of Vietnam Medical Industry

In the last recent years, Vietnam Medical system had marked significant improvement in the finance issue. The Ministry of Health decided to invest 11.6 billion USD (equal 6.1% GDP of Vietnam) in 2015 and expect to maintain this number until 2018 in order to improve the quality of medical system. However, Vietnam Medical system still working inefficiency. Hospitals in Hanoi and Ho Chi Minh are often overload – could up to 200% capacity in rush hour – while the local hospitals are not working at full capacity. One of the reasons for this situation is the lack of medical expert.

The private medical system has a steady grown since 1989. Up to 2015, there were 200 private hospital was established, mainly to serve the middle class and is the ideal choice for individuals who can meet the high cost of medical care. The average annual growth rate of private hospital reached 18.6% in 2011-2014.

71% public facilities of health are located in the North. Hanoi expected to receive the major investment for purchased modern, advance medical equipment; besides, due to the high quality of life and development potential, Ho Chi Minh City is highly recommend too, even the number of public health facilities still lesser than other cities (379 public health facilities)

Vietnam Medical Equipment market

Along with the development of the industry, Vietnam Medical Equipment market has growth steady in the last recent years, reached 781.8 million USD in 2015 and expected to reach 1.095 USD in 2019. However, 95% of the products in the market are import, especially in the high-end market such as images diagnose products. Up to 2015, the local manufactures are only meets the demand for basic medical equipment such as bed or one time used equipment.

Trend and factor that promote the market

According to Ipsos Business Consulting, the development prospects of the medical equipment industry of Vietnam are very positive based on:

- The average life expectancy of Vietnamese people are increasing along with the population group from 60-79 years old will boost the demand for medical equipment in the future

- On the manufacture side, since Vietnam join the WTO in 2007, the investment wave in medical equipment still increase, for example are Terumo, Sonion and United Healthcare has move their factory from other countries into Vietnam in order to take advantages of cheaper labor forces and supporting policies from the government.

- Vietnam strongly promote the development and modernization of facilities and medical equipment companies in provinces, cities to meet growing demand and reduce overload issue.

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