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Sunday, September 24, 2023

Medical Fair Thailand 2023: Unprecedented Demand

Affirming Thailand’s growing prominence as a regional medical and healthcare hub, the highly anticipated MEDICAL FAIR THAILAND 2023 organised by Messe Düsseldorf Asia has reached its show floor capacity 2-months ahead of the September opening. Poised to welcome an impressive 800 exhibitors from 30 countries, including 20 national and country groups, the trade fair highlights the growing demand for medical technology and innovations and the overwhelming international interest in Thailand’s vibrant healthcare landscape.

The 10th edition of MEDICAL FAIR THAILAND will take place in-person from 13 to 15 September 2023, at BITEC, Bangkok, followed by a week-long digital extension where participants can further connect and engage online. Returning to the trade fair circuit after a 4-year pandemic induced hiatus, MEDICAL FAIR THAILAND 2023 will present a comprehensive global showcase of over 8,000 medical and healthcare innovations and solutions.  Highlights this year include three special areas: Community Care Pavilion, Start-Up Park and for the first-time – the Medical Manufacturing Pavilion.

MEDICAL FAIR THAILAND 2023 comes against the backdrop of a dynamic medical and healthcare industry in Thailand which is projected to see revenue reach US$460.8 million by the end of this year, and an annual growth rate of more than 7% through to 2027 resulting in a projected market volume of US$604.30 million . While on the medical tourism front, the Thai medical tourism sector is projected to hit US$24.4 billion by 2027 as it rides the overall rise of the tourism industry.

As a rapidly expanding sector in Thailand, the healthcare industry is projected to become a significant economic pillar. This growth is driven by the combination of an expanding ageing population and a rising trend of health consciousness and mental well-being among Thai citizens. Thailand also holds the record of being the largest exporter of medical devices in ASEAN.

Thailand continues to be a destination of choice for many international companies in the medical and healthcare space as demonstrated by the strong internationality at MEDICAL FAIR THAILAND 2023 which includes first time national pavilions represented by Canada, Latvia, Poland, Portugal, and Turkey.

For Caner Gülsoy, Deputy General Manager, His Furacilik Hizmetleri Ltd Sti, organiser of the Turkey Pavilion, MEDICAL FAIR THAILAND serves as a bridge between Turkish healthcare companies and potential partners or buyers in the Southeast Asian market, thus fostering collaboration and expanding Turkey’s presence and influence in the regional healthcare industry. “The fair attracts a wide range of visitors, including healthcare professionals, distributors, suppliers, and industry experts from Southeast Asia and beyond. Participating in MEDICAL FAIR THAILAND allows Turkish healthcare companies to establish direct contact with potential partners and buyers in the Southeast Asian market. It provides a platform for networking, building relationships, and exploring collaboration opportunities,” he added.

Reflecting on the potential of the trade fair as a robust platform for business and networking opportunities, Daphne Yeo, Senior Project Manager, MEDICAL FAIR THAILAND, Messe Düsseldorf Asia, said: “Today, companies understand the critical need to collaborate with supply chain and manufacturing partners, for seamless delivery; against the challenges of rising prices and parts availability. Synergistic partnership across the value chain becomes more important than ever. MEDICAL FAIR THAILAND provides an essential platform for industry players to tackle these challenges, foster collaborations, and discover innovative solutions for sustained success in the ever-evolving healthcare industry.”

MEDICAL FAIR THAILAND 2023 is well-positioned once again to be a must-attend event with its showcase of 21 product categories ranging from equipment and supplies to consumables and medical devices and technology for hospitals, rehabilitation, orthopaedics, IT, to healthcare general services. This year it is set to welcome over 12,000 trade visitors with over 40% coming from outside Thailand, representing distributors, healthcare providers, medical practitioners, and medical device manufacturers among many others.

Key highlights at MEDICAL FAIR THAILAND 2023 include:

Community Care Pavilion – A standout feature at the trade fair, is the second iteration of the Community Care Pavilion which features products and solutions focused on the ageing population including that for preventive care and management of chronic diseases. It will also showcase solutions for non-hospital settings such as elder care facilities, nursing homes and rehabilitation centres.

Due to a decrease in the population in the last three years, Thailand is expected to become a super-aged society by 2029 . This demographic shift calls for more medical solutions that cater to the needs of an ageing population spanning remote monitoring, telemedicine, digital technologies, smart systems and innovations in geriatric medicine, among others.

Start-Up Park – Another signature feature at the trade fair is the Start-Up Park;  a dedicated platform designed for start-ups in the medical and healthcare space such as AI technology and Big Data solutions, wearable technology and healthcare software. The Start-Up Park serves as a platform to foster cooperation and facilitate business investment for innovative companies with ready-to-market solutions to meet potential buyers and partners, industry influencers and investors.

Southeast Asia’s start-up ecosystem is thriving against a backdrop of digitisation and demand. The region added eight unicorns last year, with 52 now active . The Start-Up Park plays a significant role as an enabler of the entrepreneurial ecosystem that encourages life sciences and medical and health innovation in Thailand. With the country’s vibrant start-up landscape propelled further by the government’s numerous grants and new regulations as part of Thailand’s ambitious plans to be a start-up based country, the start-up scene has grown systematically over the years and is considered one of Asia’s hidden gems.

  • The Start-Up Podium® which runs alongside will host talks and presentations by a range of key stakeholders including hospitals, the pharmaceutical sector, research and development (R&D), government agencies, industry associations, academia, and more.

(New) Medical Manufacturing Pavilion – The introduction of the first Medical Manufacturing Pavilion marks a special highlight as it focuses on the processes and components of the medical device manufacturing sector. The pavilion will cover a wide range of products and solutions from new materials, intermediate products, packaging and services, to microprocessors and nanotechnology.

With Thailand’s growing reputation as a production and distribution base of medical devices both within and outside Thailand, it has become a natural market for medical devices. According to data from the Office of Industrial Economics, Ministry of Industry (Medical Devices Intelligence Unit), there is much potential for investment opportunities in sophisticated medical devices particularly due to Thailand’s reliance on imports for this segment.

45th WT | Wearable Technologies Conference 2023 ASIA | 13 September – Jointly organised by Wearable Technologies AG and Messe Dusseldorf Asia, the conference explores the vast potential of wearable technologies in transforming healthcare. Bringing together the WT ecosystem, the conference is dedicated to exploring the world of emerging technologies, the latest advancements in the wearable tech industry, and in-depth discussions in key topics in healthcare, sports, and industry.

Other concurrently held events include a series of seminars and forums: an invitation-only event – the Hospital CIO Forum for C-suite decision makers and leading information officers, and the IVAM Forum: High-Tech for Medical Devices. Leading up to the trade fair as part of pre-marketing activities, includes a curated series of webinars presented by exhibitors, industry partners and professionals in the medical technology and healthcare sectors. The series opens with the Singapore Showcase followed by France, Japan, Poland, and other exhibiting companies. The Exhibitor Technical Presentation Webinars runs from 5 July to 30 August 2023.

MEDICAL FAIR THAILAND 2023 is supported by Thailand’s Ministry of Public Health, Ministry of Higher Education, Science, Research and Innovation, and the Thailand Convention & Exhibition Bureau (TCEB).

For more information, log on to www.medicalfair-thailand.com.

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