Some 450 businesses from 22 countries and territories are showcasing their products at the 22nd International Medical, Hospital and Pharmaceutical Exhibition which opened in Ho Chi Minh City on August 1.

On display at the Vietnam Medi-Pharm Expo 2024 are pharmaceuticals; dietary supplements; processing and packaging machinery; medical machinery and equipment; analytical, experimental, and chemical equipment; hospital services and furniture; medical tourism, healthcare software; dental and ophthalmic equipment; and cosmetics, aesthetics, and beauty equipment.

The expo will run through August 3.

In Vietnam, the medical device market is developing strongly with a value of $1.67 billion, ranking eighth in the Asia-Pacific, according to a report from global market researcher and consultant Mordor Intelligence Inc.

The market has experienced a compound annual growth rate (CAGR) of 10.2%, fueled by factors such as an aging population, increasing standards of living, and favorable policies aimed at attracting foreign investment and promoting technology transfer, according to the report.