Participants at the 29th Vietnam International Medical and Pharmaceutical Exhibition (Medi-pharm Expo 2023) which opened in the capital city on Thursday. VNS Photo Linh Anh

HÀ NỘI — The 29th Vietnam International Medical and Pharmaceutical Exhibition (Medi-pharm Expo 2023) opened its doors in the capital city on Thursday.

The three-day event is attended by 150 domestic and foreign exhibitors from 20 countries and territories, including India, Poland, Bangladesh, Taiwan, Germany, South Korea, Laos, Malaysia, Japan, Pakistan, France, Singapore, Switzerland, China, Italy, and Việt Nam.

According to the event organisers, these exhibitors are showcasing a diverse range of products in over 180 booths, across five main industry groups: pharmaceuticals, functional foods, processing, and packaging machinery; medical machinery and equipment, healthcare, analysis, experiments, clean rooms; services, hospital furniture, software, and medical tourism; dental and ophthalmic equipment; cosmetics, aesthetics, and beauty equipment.

The expo would offer organisations and businesses opportunities to enhance the exchange of experiences, promote their products, seize investment opportunities, and transfer technologies to improve efficiency in production and business, organisers said.

According to a report by Vietnam Report, the healthcare market and pharmaceutical industry in Việt Nam are expected to witness positive growth. The report highlighted that over 42 per cent of businesses in the industry believe in the development of the pharmaceutical sector in 2023. Furthermore, it is projected that by 2025, the total spending on the health sector will reach an estimated US$23.3 billion.

Market research firm Fitch Solutions also emphasised that health spending in Việt Nam is anticipated to reach $23 billion in 2023. This growth is attributed to the increasing concern for health, particularly in the aftermath of the COVID-19 pandemic. Additionally, the digital health industry's development has contributed significantly to the expansion of the market size. — VNS