GYEONGGI-DO

Gyeonggi Province Companies Entering the Vietnamese

Medical Device Market

 

 

 

 

Gyeonggi Province is running various initiatives to promote the overseas market entry of medical device companies. These include participation in international trade fairs, seminars on foreign medical device approval processes, and support for corporate promotion.

 

In particular, Gyeonggi Province will participate in Pharmedi Expo 2024, held in Ho Chi Minh City, Vietnam, from September 11 to 14, to support the overseas expansion of companies in the medical industry with excellent technology. A joint promotional booth will be set up for Gyeonggi Province companies during the event.

 

Hosted by the Vietnamese Ministry of Health, Pharmedi Expo 2024, now in its 19th year, is the largest medical industry trade fair in Vietnam. It takes place in Ho Chi Minh City and provides opportunities to meet buyers from various sectors of the medical industry, including pharmaceuticals, diagnostic devices, therapeutic devices, cosmetics, and medical services. In 2023, approximately 600 companies from 16 countries participated, facilitating meetings with around 9,000 buyers, medical professionals, and hospital representatives to promote exports in the medical industry.

 

At this exhibition, 4 companies representing Gyeonggi Province’s medical industry will participate, showcasing their (Anti-Decubitus air mattress, Medical Shift support mattress, AI Smart KIOSK, Foldable Skin Closure) products to the Vietnamese market.

 

In addition, Gyeonggi Province hosted an online seminar on August 29 to support entry into the New Southern Region market. This seminar provided information on market growth prospects for medical devices, regulatory requirements, and country-specific policies to Gyeonggi Province companies looking to expand into Southeast Asia.

 

Approximately 50 representatives from around 20 companies based in Gyeonggi Province participated in this seminar, creating an opportunity to address their high interest and numerous questions regarding entry into the Southeast Asian market.

 

Gyeonggi Province held the “Gyeonggi Province Medical Industry Online Business Consultation” events in 2020 and 2021 to stimulate entry into the Vietnamese market.

 

In the 2020 consultation event, 21 companies participated and held 47 consultations, discussing product details, purchasing intentions, and future plans with buyers. In 2021, 16 companies took part, resulting in 34 export consultations with an estimated export consultation value of around USD 870,000.

 

Vietnam is one of the fastest-growing countries in terms of aging population due to rapid economic growth, increased life expectancy, and declining birth rates. As healthcare services and social security policies struggle to keep pace with this aging trend, the government is expanding large-scale investments. In addition, there is a positive image of South Korea and a growing activation of exchange programs in healthcare between the two countries. This makes Vietnam an attractive base for Gyeonggi Province’s medical industry companies looking to expand into the Southeast Asian market, where interest and demand for Korean medical devices are expected to continue rising.

 

Gyeonggi Province plans to continue actively supporting the overseas market entry of medical device and service companies with outstanding technology in the region.