Asian markets are waiting for German medtech suppliers
Countries like Malaysia, Vietnam or Thailand are still lagging behind significantly in health care. Consequently, the coming years will see investments focus on the medical technology field. This means optimal conditions for German enterprises that aim to expand their operations and secure a foothold in the Asian market. For this, Singapore is especially suitable: its official language is English, its infrastructure is of a British-European character and its geographical location facilitates travel to all ASEAN member states via short flights.
Medical Manufacturing Asia in Singapore
In September 2014, Medical Manufacturing Asia (MMA) took place in Singapore, a medical technology exhibition that attracts visitors mainly from the ASEAN countries. The 10 ASEAN members intend to form the ASEAN Economic Community in 2015, creating a single market with 600 million inhabitants and a gross domestic product of $2.5 trillion (as of 2013).
This year, IVAM Microtechnology Network organized its first joint booth at MMA to showcase European products. Microsystems UK, for example, presented stamped test chips for blood analysis. Philip Tipler of Microsystems UK expressed his satisfaction: “The Medical Manufacturing Asia Singapore show meets all our expectations and more: meeting new prospects and productive discussions for future business.” As a consequence of this year’s success, IVAM is looking to organize an expanded joint booth for the next MMA in 2016. This booth will also feature a supporting program in cooperation with the Singapore International Chamber of Commerce, Messe Düsseldorf and Singapore Engineering and Tooling Association (SPETA), which is set to include business matchings, company visits in Singapore and a presentation forum for exhibitors.
MEDTEC China
Two weeks after MMA, the ever growing megacity of Shanghai was host to MEDTEC China. The medical technology trade fair, which was held on the former Expo grounds, adds the Chinese market to IVAM’s Asia operations. For the first time, IVAM was present with a booth to showcase products offered by its member companies. End users, manufacturers and distributors looking for partners, customers and suppliers for companies on the Chinese markets showed great interest in the high-tech network and its members.
According to an August 2014 statement by the Shanghai International Chamber of Commerce, demand for medical technology in China is rising by 20% each year. For 2015, a market volume of $53.7 billion is predicted. Aging of the Chinese society and increasing demand and consumption in the Western provinces will secure the continuation of this trend throughout the coming years. Additionally, the Chinese government has recently enacted a new health policy, aiming for – amongst other things – a modernization of the hospital sector: all devices older than ten years are to be replaced. Moreover, China is already the second largest export market for German medical technology companies – closely following the USA.
IVAM will again be present with a joint booth at MEDTEC China 2015. The supporting program will include visits to companies and research institutes, e.g. in closeby Suzhou. Suzhou is host to a concentration of China’s best nanotechnology industries and research facilities – referred to as ‘Nanopolis’.
Nano tech 2015 in Tokio
The world’s largest international trade fair and conference for nanotechnology will take place in Tokyo in January 2015. Around 800 exhibitors and 45,000 visitors are expected to attend. Nano Tech also features focus points in the areas of Life Science and medical technology. For this trade show as well, IVAM offers the opportunity to exhibit at a joint booth.
With these parallel operations in the markets of Asia, IVAM has achieved excellent market coverage in the Far East. Exhibiting enterprises benefit from outstanding contacts to local organizations, businesses and networks. Companies interested in participating in one of the IVAM joint booths can obtain further information at b2b(at)ivam.de.
