Medical device-related companies in Daegu participated in the 82nd International Medical Device Exhibition (CMEF Autumn 2019) to achieve export consultation worth a total of $959 million.
The China International Medical Devices Exhibition is Asia’s largest exhibition held twice a year, spring and fall.
The exhibition, which was held at the Qingdao Cosmopolitan Fair in China for four days from 19th to 22nd, drew 4,000 visitors and buyers from 20 countries around the world.
Six local companies, including △ Endovision △ Ubiomed △ All-Sotech △ Co., Ltd., Dae-ryu △ Co., Ltd., Dentalx △ Co., Ltd., Songi-up, Co., Ltd., participated in the Daegu area joint pavilion supported by Daegu City and established by Daegu Techno Park’s corporate support group.
These participating companies were recognized for their product competitiveness in the Chinese market, where medical device-related companies are known to have high barriers to entry, as they signed export contracts worth $304 million and posted consultations worth $959 million through 403 consultations.
Endovision Co., Ltd., a company specializing in developing two-way endoscopic procedures, is a Daegu Free Star company located in Daegu’s Cheombok complex. It has agreed to supply its flagship spinal and orthopedic surgical instrument products to Chinese medical equipment distributors for $3 million.
According to a local Chinese company, Endovision Co., Ltd. is equipped with all the products needed for spinal surgery. The biggest advantage is that we even operate a program that teaches how to use products and surgical techniques in conjunction with hospitals,” he said, expressing high satisfaction.
Ubiomed Co., Ltd., which produces painless drug absorption stimulators, signed an on-site contract worth $4 million and raised expectations for additional exports in the future.
Daegu City Deputy Mayor for Economic Affairs Lee Seung-ho said, “Local medical companies have been struggling in the marketing field, which informs and sells products, although they have sufficient technological competitiveness.” We will continue to provide continuous and systematic support to help local medical companies’ excellent products expand around the world, he said.
Meanwhile, Daegu City and Daegu Techno Park’s corporate support team will also operate a joint Daegu pavilion at the Arab Health 2020 scheduled to be held in Dubai in January next year to speed up the expansion of the export market.