KUALA LUMPUR: Malaysia is set to host its inaugural wellness-centric International Wellness Expo 2024 (IWE 2024) trade exhibition.
The trade expo, which is organised by Green Wellness Malaysia, is scheduled to be held at the Malaysia International Trade and Exhibition Centre on Nov 27-29.
Themed "Connecting Sustainable Wellness Solutions," it signifies Malaysia's ambitious move into the wellness arena, providing a transformative platform for industry leaders to elevate their brands from local successes to global front runners.
It is expected to see the participation of some 180 companies from more than 10 countries and draw around 8,000 visitors.
Green Wellness Malaysia founder and managing director Datin Dorph Peng said the global wellness industry was valued at US$7 trillion, with the Asean market accounting for US$2.45 billion.
"The time is ripe for Malaysia to take its place in this dynamic sector. IWE 2024 is designed to provide a platform for innovation, collaboration, and growth, helping local businesses become global leaders in wellness," she said at the exclusive launch of the wellness expo last Thursday.
At the launch, guest of honour and former Health director-general Tan Sri Dr Noor Hisham Abdullah said by focusing on sustainable wellness solutions, the expo sought to ease the burden on the healthcare system and encourage a healthier, more balanced lifestyle.
"Healthcare systems are under tremendous strain due to chronic diseases like non-communicable diseases (NCD), mental health challenges, cancer and the long term impact of the Covid-19 pandemic.
"We have experienced and learned a lot from the pandemic. We need to leverage these lessons to strengthen our healthcare system by focusing not only on curative measures but also on wellness and prevention," he said.
In his speech, Dr Noor Hisham said these issues underscored the urgent need for a holistic and preventive approach to health, which the wellness industry was well equipped to address.
"We need to focus on wellness and preventive medicine, we need to shift the pendulum to wellness and preparedness," he added.
In an interview with Business Times, Peng noted that education and awareness were essential for entering the wellness industry in the country.
"The initial step is to raise awareness about what wellness truly means. Wellness encompasses mental, physical, emotional, spiritual health, and even the environment.
"Our goal is to elevate the secondary or lesser-known aspects of healthcare to be on par with traditional treatments. This expo aims to foster awareness and shift mindsets towards a more holistic view of wellness ," she said.
She noted that the country experienced success in wellness and medical tourism until the Covid-19 pandemic struck, leading to a decline due to travel restrictions.
"However, now is an opportune moment for recovery. It is a good time for Malaysia to step up and come back stronger, leveraging its cost advantages and availability.
"The country can unite to provide comprehensive solutions, allowing medical tourism to expand once again," she said.
Peng said the expo had the potential to raise Malaysia's standards, as it was the country's first wellness-focused event.
"Such events are not new in other countries. When you look at Taiwan and Japan, for example, there has been a significant development.
"That is why we are bringing them in to showcase their innovations, to uplift the Malaysianwellness industry and shift people's mindsets. This is where growth will emerge," she said.
Peng said the wellness expo would be held annually, with plans to expand the event beyond Malaysia.
IWE 2024 will showcase green living, sustainable quality living, healthcare solutions, integrative therapies, healthy products, wellness technology, and financing.
The expo will offer guaranteed meetings with foreign buyers, media features in the New Straits Times or Shanghai Business Media, postings on its portal and social media, a free booth with complimentary business matching, and exclusive access to showcase products and services at next year's Southeast Asia Healthcare and Pharma Show (SEACare 2025).
Overseas exhibitors will also receive subsidies for accommodation and flight tickets.
The expo aims to serve as a wellness gateway to the Asean market, connecting businesses with high-quality leads regionally and globally, and helping them expand their market reach beyond Malaysia.