MEDICAL MANUFACTURING ASIA 2018
NEWS
MEDICAL MANUFACTURING ASIA 2018
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STATE-OF-THE-ART TECHNOLOGIES AND SOLUTIONS FOR MEDICAL TECHNOLOGY
The fourth edition of MEDICAL MANUFACTURING ASIA makes a return to Singapore as the region's leading specialist trade fair for Asia's medtech and medical manufacturing processes sectors.
Jointly organised by SPETA (Singapore Precision Engineering and Technology Association) and Messe Düsseldorf Asia, MEDICAL MANUFACTURING ASIA 2018 will feature an extensive product range covering the upstream and downstream processes in medtech sectors, including new materials, components, intermediate products, packaging and services, to micro and nanotechnology, testing systems and services, as well as materials, substance and components for medical technology. Industry-focused business forums will also headline the upcoming edition of the specialist trade fair.
Modelled after COMPAMED in Germany, MEDICAL MANUFACTURING ASIA 2018 is co-located with MEDICAL FAIR ASIA 2018 – the No. 1 medical and healthcare exhibition in Southeast Asia with a focus on the equipment and supplies for the hospital, diagnostic, pharmaceutical, medical and rehabilitation sectors.
The region’s medical device market is expected to grow strongly and access to the market will improve in the coming years due to a number of factors:
- Size of middle class in the region is rapidly expanding. Asian Development Bank expects this group to grow from 24% of the total population in 2010 to 65% by 2030. Additionally, demographic trends such as population aging and urbanisation, is expected to fuel demand for better quality healthcare, and contribute to the expansion of Southeast Asia’s medical device market.
- Penetration of medical devices into ASEAN is still relatively low, thus, there is much room for growth and market expansion. The heterogeneity of the ASEAN market allows medical device companies to adopt different market strategies and provides ample room for device segmentation
- Another important consideration for medical device companies entering the ASEAN market is the lack of domestic competition in the region. Overall, ASEAN is a net importer of medical devices. Vietnam for example, currently imports 90% of all the medical devices used in the country.