MedExel Exports Pen Needles to Colombia
MedExel Co., Ltd. (CEO: Cha Dong-ik) announced on the 6th that following its export to Iran in May, the company has now successfully exported insulin pen needles to Colombia.
Colombia’s medical device market is rapidly growing, with an average annual growth rate (CAGR) of 12.4%, ranking 4th globally, and an average annual import growth rate of 14.3%, also ranking 4th.
Despite the global economic turmoil and the sharp decline in the value of the Colombian peso following the registration with INVIMA in July, MedExel’s export to Colombia was successfully completed thanks to the swift response of the Sales & Marketing Team.
MedExel also secured a bid with SaludCoop EPS, a leading company in Colombia’s healthcare sector, by providing proactive support to its Colombian distributor, confirming the superiority and price competitiveness of its products.
Notably, beating a major U.S. global healthcare company known for producing medical devices, diagnostic systems, and reagents in this bid is seen as an encouraging sign for future market expansion.
Cha Dong-ik, CEO of MedExel, stated, “This entry into Colombia demonstrates that MedExel’s superior quality and price competitiveness are recognized even in South America. We will continue to expand the presence of our high-quality MedExel products in more South American markets.”
MedExel is a specialized manufacturer of pen needles used with self-injection pens, exporting 98% of its production to Europe and North America. Since the introduction of new management earlier this year, MedExel has been accelerating the expansion of its TopFine pen needles into overseas markets.
