Dr
Krithpaka
Boonfueng,
Executive
Director
of
the
National
Innovation
Agency
(Public
Organisation),
along
with
Professor
Emeritus
Dr
Sirirurg
Songsivilai,
Chairman
of
the
Board
of
Science,
Research,
and
Innovation
Promotion
(GSRI),
and
a
delegation
of
executives
and
staff
from
NIA,
visited
the
exhibition
booth
showcasing
the
achievements
of
eight
medical
and
health
innovation
startups
supported
by
NIA.
The
visit
took
place
at
the
Medica
2024
event
in
the
Federal
Republic
of
Germany.
Dr.
Krithpaka
Boonfueng,
Executive
Director
of
the
National
Innovation
Agency
(Public
Organization)
or
NIA,
stated
that
NIA,
in
its
role
as
a
‘Focal
Conductor
of
Innovation,’
is
dedicated
to
nurturing
and
enhancing
the
capabilities
of
Thai
innovators
to
achieve
sustainable
growth.
This
commitment
is
guided
by
the
‘4G
Approach’:
Groom:
Fostering
and
strengthening
the
potential
of
Thai
innovators.
Grant:
Providing
financial
mechanisms
to
develop
and
scale
innovative
businesses
to
market
readiness.
Growth:
Accelerating
the
expansion
of
both
startups
and
SMEs
in
the
innovation
ecosystem.
Global:
Propelling
Thai
innovators
onto
the
international
stage.
Thailand’s medical industry, a standout sector, benefits from one of the world’s top-ranking healthcare systems. The global MedTech market is projected to soar to 775.8 billion US dollars by 2029, with Germany emerging as a particularly promising market. Germany’s long-standing role as host of the world-renowned Medica trade fair for over 40 years underscores its importance. Recognised by experts as the largest medical trade exhibition globally, Medica attracts more than 6,100 exhibitors from 69 countries, solidifying its status as a pivotal platform for the medical and healthcare sectors.
Dr Krithpaka added that the NIA is proud to participate in Medica 2024 under the theme ‘Meet Health. Future. People,’ hosted in the Federal Republic of Germany. As part of this prestigious event, eight outstanding Thai medical and healthcare innovation startups and SMEs, selected through a rigorous process, will showcase their pioneering solutions. These include: Eidy: A large language model (LLM) tailored for medical applications, distinguished by its specialised terminology and physician-like reasoning. It holds potential for developing chatbots designed to address specific medical queries. Ravis Technology: A platform for managing clinical research and data related to biopharmaceuticals, medical devices, and drugs. By leveraging technology to streamline data management, it saves time and costs. Pose Intelligence: A medical equipment management platform for hospitals, providing precise inventory control and central supply management. It reduces redundancy and minimises errors with its efficient systems. SOS Care: An innovative wound dressing made from silk protein combined with carboxymethyl cellulose (CMC) and glycerin. This flexible dressing promotes collagen production, accelerating wound healing. POPOLO: A device designed to band oesophageal varices caused by abnormal blood flow to the liver. This innovation enhances accessibility for Thai patients and reduces mortality rates.
Orthopeasia: A cutting-edge platform for designing and producing spinal disc replacements using specialised software. Its innovation simplifies surgical procedures, ensuring smaller incisions, faster operations, and improved convenience for both surgeons and patients. BRE: A revolutionary two-step bathing sheet that eliminates the need for water and soap, providing a practical solution for patients unable to bathe, significantly enhancing their quality of life. Aquatrek Solution: A water treadmill, an advanced hydrotherapy device ideal for reducing the risks associated with exercise, particularly for the elderly. It minimises joint strain while supporting body weight, making it highly effective for rehabilitation and therapy.
These eight groundbreaking innovations have garnered considerable interest from partners and potential collaborators across the United States, Europe, and Canada, seeking to exchange technologies and customer bases. Collaborative research opportunities, such as co-publishing with German academics, hosting researcher exchange programmes, or licensing specific or complete production technologies for German manufacturing, could significantly bolster the credibility of Thai medical devices.
Research partnerships are a gateway to greater acceptance in the European market. Furthermore, studying attendee and exhibitor profiles at Medica 2024 offers invaluable insights for refining Thai innovations and devising strategic marketing approaches. These initiatives could stimulate investments, foster business matchmaking, and pave the way for cross-border collaborations, driving future advancements in medical innovation.
Ms Maleepan Phasupong, from Ravis Technology Co Ltd, a developer of clinical research management platforms, shared her perspective on being selected to participate in the global medical and health innovation showcase Medica 2024. She highlighted that this prestigious event provided invaluable insights into the European market’s overall needs, particularly in the realms of digital solutions, health and physical care devices, and diagnostic tools. Beyond helping Thai startups align their innovations with market demands, it serves as a pivotal starting point for achieving real business partnerships.
By showcasing Thailand’s research strengths, especially to Western countries increasingly interested in collaborative research with Thailand, the event bolstered international recognition. This growing interest is particularly evident in the West, where there is a notable trend towards exploring research partnerships in Thailand.
During the event, the company secured discussions with five potential partners and clients, with follow-ups already underway. German STEM researchers, in particular, have expressed interest in exchanges with Thailand to reduce costs associated with services and production within Europe, such as clinical research expenses or medical device manufacturing. This highlights the tangible opportunities created through platforms like Medica, not only for networking but also for fostering deeper international collaboration and reducing operational costs.
Mr Thanatpant Manosittisak of SOS Care Co Ltd, developer of silk-protein wound dressings, emphasised that Thai medical and health startups and SMEs have strong potential to thrive in global markets if provided with adequate support in terms of funding, resources, and technological development. He pointed out that Thailand’s lower production costs, compared to developed nations, present a competitive advantage. However, government support is crucial to propel these startups and SMEs into forming international collaborations and expanding their market and business networks.
Such backing enhances their credibility and strengthens confidence in the quality and innovation of Thai products on the global stage. Mr Thanatpant expressed hope that participating in Medica 2024 would enable his company to secure distributors across Europe, Asia, and the Middle East, thereby driving further international market expansion.
Hashtag: #NIA
The issuer is solely responsible for the content of this announcement.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate