Medical meeting market in guarded condition
The medical sector of the exhibition industry had its slowest growth in at least seven years in 2007 with revenues actually declining, according to the latest CEIR Index, published by the Center for Exhibition Industry Research (CEIR).
The medical sector—the largest in the industry, representing 23% of all exhibitions—was essentially flat last year, growing just 0.2%. By comparison, the overall exhibition industry grew 3.2% in 2007.
Since 2000, the first year that exhibition data was tracked by CEIR, the medical sector has had an annual growth rate of 3.4%. That outpaces the growth of the overall exhibition industry, which has grown 2.5% annually.
“The annual growth rate is determined by calculating the performance of four key metrics: net square footage of exhibit space, number of exhibitors, attendance, and revenues generated,†says CEIR.
In the medical sector, attendance was the only segment that showed any appreciable increase, climbing 1.6%.
Despite an economic slowdown, the medical and healthcare exhibition sector should continue to grow in 2008, according to tourist officials.
Report by David Wilkening
David
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