FORYOU MEDICAL Attend the 11th Expo Hospital

The 11th Expo Hospital, organized by FISA.S.A., a subsidiary of GL events in Chile, was held from September 12th to 14th local time at the Metropolitan Santiago Convention&Event Center. FORYOU MEDICAL carries the LUOFUCON ® Series of advanced wound dressings and the SUNTOUCH ® series of hemostatic products participated in this exhibition, with booth number Booth 260.

Chile has a stable political environment, a high degree of market freedom, transparent laws and regulations, and a good business environment. It ranks 59th out of 190 countries in the World Bank's 2020 Business Environment Report. Chile adheres to an open and inclusive economic policy, encourages innovation and competition, reasonably and effectively utilizes resources, and has built one of the most stable and complete economic systems in Latin America, maintaining a sustained trend of economic growth for 20 years. Since 2012, China has become Chile's largest trading partner, largest export market, and largest source of imports, and has maintained this position. Chile is China's third largest trading partner in Latin America.

In the 1960s, Chile began to establish a national medical insurance system. After more than 20 years of reform, the pension system reform was implemented in 1980, and ISAPRE was established. On the basis of the original medical system, a medical security system with private management agencies was added as a supplement. Meanwhile, the Chilean public healthcare insurance system FONASA continues to be an important component of the Chilean healthcare security system. From 2014 to 2018, Chile invested a total of $4 billion to improve medical standards and build a healthcare network. Chile's healthcare industry has developed rapidly and has established a relatively complete public private healthcare system, with the public sector accounting for 66% and the private sector accounting for 34%. There are a total of 2902 medical institutions of various types nationwide (in 2018). In 2018, the national public healthcare expenditure was 15.48 billion US dollars, accounting for 5.2% of GDP, and the per capita public healthcare expenditure was 900 US dollars. In 2019, Chile had an average of one doctor per 625 people. In 2020, Chile's healthcare expenditure accounted for 5.88% of its GDP. In response to the shortage of public hospitals and beds, the Chilean government announced a $10 billion hospital infrastructure plan from 2018 to 2022, which will build 75 new hospitals nationwide, add approximately 12400 beds to the public health system, and build 120 primary health centers. As of August 2021, 12 hospitals have been completed, 24 are under construction, and another 12 hospitals are in the bidding process.

According to a research report, the total market value of medical devices in Chile in 2020 was approximately 1.7 billion US dollars, an increase of 75% compared to 2017. The domestic production of medical devices in Chile is very small, and the market mainly relies on imports, with local medical device manufacturing accounting for less than 10%; The main suppliers in the market are international brands with subsidiaries in Chile and local agents. In 2021, the import value of medical devices in Chile was 755 million US dollars, with a market share of approximately 25.82% in the United States, followed by 21.35% in China, and 10.81% in Germany.

In 2023, FORYOU MEDICAL confirmed to implement the development strategy of more actively exploring overseas markets, improve the overseas market layout, carefully insight into customer needs, ensure supply chain security, and accelerate the promotion of independent brand sales. Expo Hospital is an important medical equipment, clinical, and laboratory exhibition in Chile. The organizer collaborates with the public health department to conduct large-scale market information promotion, attracting professional doctors from hospitals, clinical and laboratory departments, managers of administrative health institutions, professors from medical colleges and universities, medical device distributors, and traders. These measures greatly improve the quality of the exhibition's audience, and we believe that Expo Hospital is a high-quality platform that will help us enter the Chilean market. According to official post exhibition statistics, approximately 120 exhibitors from more than 10 countries including the United States, Brazil, Chile, Italy, and China participated in the on-site event with over 500 brands, with over 5000 professional visitors and good exhibition results.

The organizers are very confident in the development of Expo Hospital, and it is expected that the number of visitors to the exhibition next year will be 50% higher than in 2023, exceeding 7000. The number of exhibitors will increase to 150, with an exhibition area of over 6000 square meters. The emerging markets in the Americas, represented by Chile, have great prospects. FORYOU MEDICAL will actively adapt to the new situation, seize new opportunities, meet new challenges, take the initiative in development, win advantages, and win the future.

For you, for us, for life!