Consecutive Entries into World Expositions
[Asia Economy Reporter Lee Gwan-joo] The domestic pharmaceutical bio and medical device industries, which had been stalled in their global market expansion due to the spread of COVID-19, are stretching their wings again this year. As face-to-face exhibitions and fairs have begun to be held in Europe, Australia, and other regions where the Omicron variant peak has passed, they are stepping up and expanding their contacts with overseas buyers.
JVM Targets Europe and Australia
According to the pharmaceutical bio and medical device industries on the 18th, face-to-face exhibitions in major global markets such as the United States, Europe, and Australia have been actively held since the beginning of this month. JVM, a subsidiary of Hanmi Pharmaceutical that showcases automatic drug dispensing solutions, attended the international pharmacy supplies fair ‘Pharmagora Plus 2022’ held in France on the 12th and 13th, and will consecutively participate in ‘Infarma Madrid 2022’ hosted by the Spanish Pharmaceutical Society from the 22nd to 24th, and ‘APP (Australian Pharmacy Professional Conference) 2022’ held in Australia from the 24th to 27th of this month.
At these exhibitions, JVM plans to introduce its new product ‘VIZEN EX.’ VIZEN EX is a state-of-the-art inspection solution with approximately five times the efficiency of existing equipment. By linking with prescriptions in the automatic dispensing system, the latest camera installed inside the device can inspect and analyze up to 400 pouches per minute, dramatically improving accuracy and efficiency. A JVM official said, "By launching customized equipment for overseas markets where non-face-to-face remote medical care and online drug delivery are expanding, our competitiveness will increase."
Medical Devices and Healthcare "Going Overseas"
Mico BioMed, a manufacturer of in vitro diagnostic medical devices, also participated in the medical trade fair ‘Expomed Eurasia 2022’ held in Istanbul, Turkey, from the 17th to 19th. At this fair, Mico BioMed showcased the anemia diagnostic hemoglobin testing device ‘VERI-Q Hb Mate.’ Compared to existing professional products, this device reduces the measurement range and improves the measurement time from 5 seconds to 2 seconds, making it easier for individuals to use. Having obtained personal European CE certification in November last year, it has become an opportunity to expand the consumer base beyond medical institutions. In particular, discussions regarding supply with the Iranian Blood Transfusion Organization (IBTO) are planned at this fair. Kim Sung-woo, CEO of Mico BioMed, stated, "We plan to conduct strategic marketing targeting regions and countries with insufficient medical facilities or poor accessibility."
Lemon Healthcare, a digital healthcare platform company, participated in the ‘2022 HIMSS Global Health Exhibition (2022 HIMSS USA)’ held in Orlando, USA, from the 14th to 18th, showcasing several platforms including the ‘LemonCare Solution’ introduced in domestic tertiary hospitals. Notably, it was selected as one of the ‘36 Startups to Watch’ and had the opportunity to give a separate presentation in the ‘Market Debut’ session.
"Accelerating Global Expansion"
Seven domestic pharmaceutical bio companies have been selected as corporate presenters for ‘Bio-Europe Spring 2022,’ held in Paris, France, from the 28th to 31st. This is Europe’s largest bio conference, with only about 100 companies worldwide presenting. Among them, seven companies from Korea, including Curacle, a company specializing in new drug development for vascular and intractable diseases related to aging, have been selected.
The challenges of domestic companies for overseas market entry are expected to continue. An industry official said, "Although we have excellent technology, opportunities to promote products were limited due to COVID-19," adding, "As major exhibitions are reopening, participation by domestic companies will continue to increase."
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