10 August 2024 04:07 am Views - 74
Sri Lankan pharmaceutical product manufacturers participated at the 22nd Medi Pharm Expo held at the DIECC (KohPich) in Hochi Minh City , Vietnam recently.
The pharmaceutical sector has been identified as one of the promising and emerging sectors in Sri Lanka, to be promoted as an export-oriented industry to earn foreign exchange. In response, the Export Development Board (EDB) had taken steps to bolster marketing and promotional efforts to enhance the international profile of Sri Lankan pharmaceutical products.
In continuing this efforts, EDB with the assistance of Sri Lanka Embassy in Vietnam organized Sri Lanka country pavilion at the Medi Pharm Expo 2024 , Vietnam with the objective of providing a powerful platform to connect across the globe, market verticals including contract manufacturing opportunities, gain industry insights and technical innovations.
Vietnam’s pharmaceutical industry is one of the highest growth markets in the region as a result of increasing economic growth, rising per capita income , and an aging population in the country.
The country imports around 40 percent of total demand for pharmaceuticals. Also in year 2023 Vietnam imported US$ 6.9 billion worth of pharmaceutical products. Sri Lankan companies are not exporting products to Vietnam at present.
Medi Pharm Expo- Vietnam is one of the established exhibitions of the healthcare industry in Vietnam with 400 plus exhibitors showcasing their latest and fast-moving products from leading multinational and regional companies consisting pharmaceuticals, nutritious food, drug materials, medical devices & equipment, laboratory equipment and devices etc.
Sri Lanka’s business delegation to 22nd Medi Pharm Expo 2024, comprised of three Sri Lankan pharmaceutical companies; M/s Gammainterpharm (Private) Limited, M/s AstronLimited, M/s Morison Ltd .
The pavilion aimed to provide a robust platform for connecting with global markets, exploring contract manufacturing opportunities, and gaining insights into industry trends and technical innovations. Further, it showcased many pharmaceutical finished formulations such as vitamin, nutraceuticals, antibiotics, anti- diabetic products, cardiovascular for the therapeutic categories etc. with the guidance of EDB.
The companies that participated at the expo stated that this show has provided an excellent platform for Sri Lankan pharmaceutical manufacturers to initiate business contacts with various foreign distributors and to explore the new trends available in the international market.
This year, more than 10,000 visitors from pharmaceutical distributors, hospitals and retailer pharmacies had visited the exhibition. More than 450 exhibitors from 26 countries including Vietnam, Canada, Poland and Indonesia o participated in the expo.