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Subject
DMC participates in Arab Health 2024
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Date of registration
2024-02-19
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( T. 120)
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Daegu pavilion’s four companies undertook 123 export consultations and signed USD 4.6 million worth in supply contracts

 

Daegu Metropolitan City (DMC) exhibited at Arab Health 2024, which was held in Dubai, UAE from January 29 through February 1. The Daegu-based companies that comprised the pavilion carried out a total of 123 consultations (for USD 12.37 million in exports) and signed supply contracts for a total of USD 4.6 million.

 

The DMC pavilion

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The pavilion, which was sponsored by DMC and supervised by Daegu Technopark, featured four medical device manufacturers: Nanum Company, MicroNX, JMBIOTECH, and Finemedix.

 

This year’s Arab Health, the largest medical equipment expo in the Middle East, was participated in by approximately 3,500 companies representing 180 countries and 70 national pavilions.

 

In addition to DMC’s, there were three Korean pavilions at the expo: Daegu Gyeongbuk Medical Innovation Foundation (7 companies), Korea Medical Devices Association (75 companies), and Wonju Medical Instrument Techno-Valley Foundation (24 companies). The approximately 200 Korean companies, including ones that exhibited individually (e.g. Samsung Healthcare, PLASMAPP), aggressively pitched their strengths to gain a foothold in the Middle Eastern and European markets.

 

Finemedix signed contracts worth a total of USD 1.56 million with UAE, Iranian and Saudi Arabian companies for its endoscopy equipment (e.g. clear cut knife). The other three companies not only signed small-scale contracts based on consultations but also impressed many of the foreign buyers who visited the pavilion, suggesting that prospects for the diversification of Korean healthcare exports are bright.

 

For the past few years, DMC has consistently funded the exhibiting of local companies in international medical trade shows (through joint pavilions, etc.) to expand the export market for local medical device manufacturers.

 

From 2021 through 2023, DMC’s joint pavilions signed export contracts worth a total of USD 86.9 million. The almost-doubled amount in 2023 compared to 2022, from USD 25.56 million to USD 43.67 million, is tangible proof that locally-produced medical devices are gaining an increasingly larger following in global markets.

 

Choi Un-baek, head of DMC’s Innovative Future Growth Division, said, “Arab Health was a wonderful opportunity to promote the excellence of Daegu’s healthcare technologies as well as heighten the global competitiveness of local manufacturers. We will continue to support marketing efforts for the expanded visibility of Daegu-based companies in foreign markets.”

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