During 28 August 2018 to 4 September 2018 the EU Business Avenues in South East Asia programme will take selected European companies in the Healthcare and Medical Technologies sector to Singapore and Philippines. Some 50 European companies from 15 European Union (EU) member states will be attending this 10th business mission.
The EU Business Avenues in South East Asia programme supports European companies in establishing long term collaborations in the region, through a series of coaching, business matching and business support services.
The business mission will first travel to Singapore to participate in Medical Fair Asia 2018, before flying over to Philippines for 2 days of pre-arranged business meetings with local stakeholders.
The increase in demand for healthcare and medical technologies in South East Asia is driven by rising affluence, changes in the public healthcare schemes and. aging populations. Healthcare demand in SEA is increasing rapidly also due to an epidemiological shift from infectious diseases to chronic disease patterns matching western markets.
The medical technology (MedTech) sector is expected to grow from US$88 billion (S$120 billion) in 2015 to US$133 billion in 2020 in Asia Pacific, and Singapore is “well-positioned” to act as a gateway to tap the market in the region. Singapore expenditure for elderly and assistive technology is projected to grow 4.5 folds from 2015 to 2030, states EU Business Avenues SEA.
Philippines, on the other hand, is witnessing increasingly more investment in public-private partnerships (PPPs) for major hospital infrastructure projects. At the same time the digital landscape is changing fast with the public and private sector pushing for the digitisation of healthcare information and accessibility for the benefit of the population.
The growing senior population in Europe is an important growth driver for the healthcare sector, which resulted in proactive development by medical device companies to find solutions to address the demands of the aging population such as diagnostic equipment to detect all kind of diseases in their early stages, homecare devices, and remotely monitor-able diagnostic equipment that enables telehealth.
The South East Asia (SEA) region can benefit from these technologies and developments as the region faces similar medical challenges due to its greying population. It is expected that those over 65 years of age will represent 7.8% of the overall population (or 4.6million) by 2020.
“There is huge potential to share the EU’s innovative technologies and solutions in the healthcare and medical industry with ASEAN countries,” says the EU Ambassador to Singapore H.E. Barbara Plinkert.
In 2016, more than 12,200 patent applications were filed with the European Patent Office (EPO) in the field of medical technology, of which 41% represent European applications. “This is a clear evidence of a highly innovative sector that invests in R&D to meet the rapidly changing industry needs,” says Ambassador Plinkert.
In addition, the SEA region has been developing a uniform system for registering and assessing medical devices across all member states – the ASEAN Medical Device Directive (AMDD) – expected to be effective from 2020.
The industry is hopeful that the directive will raise the confidence of foreign manufacturers to penetrate the SEA market and will directly improve the healthcare industry in this region by ensuring that medical devices meet quality and performance standards.
The following Nordic companies are participating:
Moto tiles/Entertainment Robotics (Denmark)
Sub Sector: Assistive Technologies,Rehab/Pain Equipment
Moto tiles are designed as an alternative form of physical rehabilitation exercise to allow elderly citizens to break away from monotonous training programs, and participate in an exercise that is fun and exciting, and therefore more motivating.
Human Care (Sweden)
Sub Sector: Assistive Technologies,Medical Equipment
Withn 20 years of experience Human Care produces and provides mobility solutions for people with special needs. Their premium products are: Mobility Aids, Lifting Solutions, Healthcare Beds, Convertible Chairs, and Bathroom Safety Products for people with reduced mobility.
Sub Sector: ICT for Healthcare,Telemedicine and Remote Health Monitoring
Mediconsult’s core solutions include customer and patient data management, elderly care, ERP, self-care and digital services. Their solutions are designed to fully address the needs of social care and healthcare, both in public and private sectors. The solutions steer patient processes and treatment chains, giving customers the chance of receiving treatment where it best suits them, developed together with their customers, in full compliance with national specifications and regulations. Their data systems are utilised, among others, by doctors, nurses, and self-managing customers in social and health care.
Business mission week details:
Dates: 28 – 31 August 2018
Venue: Level B2, Hall E, Sands Expo & Convention Centre, 1 Bayfront Ave, Singapore 018971
Dates: 3 – 4 September 2018
Venue: Shangri-La at the Fort, BGC, 30th Street Corner, 5th Avenue Bonifacio Global City, Taguig City, Philippines