REVOLUTIONISING MYANMAR’S MEDICAL AND PHARMACEUTICAL INDUSTRY TOWARDS MODERNISATION & INDUSTRY 4.0
Returning to spur the industry with more innovative products and solutions, the latest technology and equipment and lucrative business opportunities, MEDEX 2019 – Myanmar’s No.1 International Medical and Pharmaceutical Equipment & Supply Exhibition is set to be held at the Tatmadaw Hall, Yangon from 3-4 October 2019.
Following an economical liberisation since its exit from isolation, there has been a strong increase across a variety of sectors in Myanmar. According to the research firm Solidiance, the healthcare sector alone grew from 704 million dollars in 2010 to 2 billion dollars in 2016. Myanmar is abundant with opportunities for the medical device and equipment market, driven by significant increases in the healthcare budget, spending, the rising incidence of diseases, and the upgrade in healthcare facilities. In order to reduce the high burden of Non-Communicable Diseases (NCD), Myanmar’s Ministry of Health developed a comprehensive national plan in 2014 for the prevention and control of such incidences.
Furthermore, with Industry 4.0 or the Fourth Industrial Revolution now a common reality more than ever, it is vital that Myanmar as an emerging market step up its efforts and implement better strategies to prepare for the Revolution’s impact or risk being left behind. By 2020, Industry 4.0 will have brought about advanced robotics, artificial intelligence (AI), machine learning and modern materials, biotechnology and genomics.