Thai healthcare startups set to shine at region’s largest medical expo
Thailand's medical startups will highlight their potential at the "Medical Fair Thailand 2023", according to the trade fair’s organiser, Messe Dusseldorf Asia, which is billing the event as Southeast Asia's largest medical exhibition.
Daphne Yeo, project executive director of the organiser’s healthcare portfolio, said that medical startups in Southeast Asia, including in Thailand, are seeing rapid growth. She said the upcoming exhibit will help them make global connections.
Yeo said the fair she is organising will give the startups a platform to grow globally.
The fair will be the first biennial exhibition since 2019 to provide opportunities for all involved in the medical field to source and procure medical and healthcare products.
Medical companies from all over the world will be selling their products.
"With face-to-face networking, establishing business connections, and a leading knowledge hub, both exhibitors and visitors are ensured to exchange and experience the latest breakthrough medical products and services," Yeo said.
Aside from showcasing medical equipment and supplies for hospitals, and diagnostic, pharmaceutical, and rehabilitation products, Medical Fair Thailand 2023 will provide a comprehensive platform for navigating the Thai, regional, and global markets, she added.
Kritphaka Boonfueng, executive director of the National Innovation Agency (NIA), agreed with Yeo that the event will be a great springboard for the country's innovators and startups.
"It has been discovered that Thailand's medical and health-related startups continue to lack space as hubs to connect with investors in order to expand their opportunities on an international level," Kritphaka said.
Healthcare is one of the business sectors where Thai entrepreneurs and innovators have the potential to grow in line with global trends, she said.
Advancements in medical products and services will help Thailand's competitiveness, she added.
The sector requires technologies and solutions that are constantly evolving, including artificial intelligence (AI), virtual reality, the internet of things, and big data.
It is critical for both the government and the private sector to support and facilitate their growth in order to meet market demands and promote the country's economic system, she said.
Helping startups participate in Medical Fair Thailand 2023 can help them grow, Kritphaka said.
"The NIA is ready to provide space and opportunities for growth for entrepreneurs. This is evident from StartupBlink's Global Startup Ecosystem Index 2023, which ranks Thailand 52nd among countries with the best startup ecosystems in the world, reaffirming Thailand's potential for economic and social growth with support in knowledge, networking, and financial investments," Krithpaka said.
Noppasit Pophitpattanaprap, managing director of Brain Dynamic Technology, one of the Thai startups taking part this year, said the event helped him figure out how to adapt his product to each country's market.
Brain Dynamic Technology incorporates AI into communication and care for paralysed patients. Due to the growing interest in AI technology to improve people's quality of life, it has piqued the interest of global investors.
The 10th Medical Fair Thailand 2023 will be held from September 13-15 at the Bangkok International Trade and Exhibition Centre, with over 800 exhibitors from 30 countries scheduled to take part. More than 12,000 visitors from around the world are expected, organisers say.
