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South Korea Medical Devices Report Q4 2015, Business Monitor International

  • September 2015
  • -
  • Business Monitor International
  • -
  • 197 pages

Includes 3 FREE quarterly updates

BMI Industry View: The South Korean medical device market registered an improved performance in 2014with growth driven by a rapidly ageing population and increasing demand for sophisticated medicaltechnology. Domestically produced products have continued to make gains at the expense of importedmedical devices. Medical device imports will come under further pressure from locally produced productsin certain sectors. Although the domestic manufacturing industry remains fragmented, the number ofproducers has more than doubled in recent years and domestic output will continue to see steady growth asSouth Korea seeks to further reduce its reliance on imported products, whilst boosting its share of theglobal medical device market.

Headline Industry Forecasts

- We forecast that the medical device market will register a 2014-2019 CAGR of 5.2% in US dollar terms,taking the value from USD5.4bn to USD7.0bn. The market will see low single-digit growth in 2015, withhigher mid-single digit growth from 2016. South Korea will remain the third largest medical devicemarket in the Asia Pacific (APAC) region behind Japan and China.

- We expect that medical device imports will see low single-digit growth in 2015. The running annual totalreached USD3.1bn in the 12 months ended June 2015, representing y-o-y dollar growth of 3.3%.Thisconfirms the upturn in medical device performance registered in 2014, following a very weakperformance in 2013. We anticipate that the import share of the market will continue to decline from itscurrent level of around 55%.

Table Of Contents

South Korea Medical Devices Report Q4 2015, Business Monitor International
BMI Industry View 9
SWOT 13
Medical Device Market 13
Political 14
Economic 15
Operational Risk 16
Industry Forecast 18
Medical Device Market Forecast 18
2014-2019 Performance 18
Table: Projected Medical Device Market, 2014-2019 19
2009-2014 Performance 20
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn) 21
Consumables Market Forecast 25
Bandages and Dressings 26
Suturing Materials 26
Syringes, Needles and Catheters 26
Other Consumables 26
Table: Consumables Market, 2009-2019 (USDmn) 27
Table: Consumables Market, 2010-2019 (USDmn, % Change) 28
Diagnostic Imaging Market Forecast 29
Electrodiagnostic Apparatus 30
Radiation Apparatus 31
Imaging Parts and Accessories 31
Table: Diagnostic Imaging Market, 2009-2019 (USDmn) 32
Table: Diagnostic Imaging Market, 2010-2019 (USDmn, % Change) 33
Dental Products Market Forecast 34
Capital Equipment 35
Instruments and Supplies 35
Table: Dental Products Market, 2009-2019 (USDmn) 35
Table: Dental Products Market, 2010-2019 (USDmn, % Change) 36
Orthopaedics and Prosthetics Market Forecast 37
Fixation Devices 38
Artificial Joints 38
Other Artificial Body Parts 38
Table: Orthopaedics and Prosthetics Market, 2009-2019 (USDmn) 39
Table: Orthopaedics and Prosthetics Market, 2010-2019 (USDmn, % Change) 39
Patient Aids Market Forecast 40
Portable Aids 41
Therapeutic Appliances 41
Table: Patient Aids Market, 2009-2019 (USDmn) 41
Table: Patient Aids Market, 2010-2019 (USDmn, % Change) 42
Other Medical Devices Market Forecast 43
Table: Other Medical Devices Market, 2009-2019(USDmn) 44
Table: Other Medical Devices Market, 2010-2019 (USDmn, % Change) 45
Annual Medical Device Imports 47
Table: Medical Imports By Product Area, 2010-2014 (USD000s) 50
Table: Medical Imports By Product Area, 2010-2014 (USD000s, % Change) 51
Table: Summary Medical Imports By Product Area, 2010-2014 (Local Currency 000s) 52
Table: Summary Medical Imports By Product Area, 2010-2014 (Local Currency % Change) 53
Table: Top 20 Medical Device Suppliers, 2014 (USD000s) 55
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s) 56
Table: Detailed Medical Device Import Trends By Product Area, 2014 59
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s) 62
Monthly Medical Device Imports 65
Table: Monthly Medical Device Imports By Product Area, July 2012 - June 2015 (USDmn) 65
Annual Medical Device Exports 67
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s) 71
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s, % Change) 72
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s) 73
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s, % Change) 74
Table: Top 20 Medical Device Destinations, 2014 (USD000s) 76
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s) 77
Table: Detailed Medical Device Export Trends By Product Area, 2014 80
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s) 83
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s) 86
Monthly Medical Device Exports 89
Table: Monthly Medical Device Exports By Product Area, July 2012 - June 2015 (USDmn) 89
Macroeconomic Forecasts 91
Economic Analysis 91
Table: Economic Activity (South Korea 2010-2019) 95
Industry Risk/Reward Index 96
Table: APAC Medical Device Risk/Reward Index, Q415 97
Market Overview 98
Medical Device Market Overview 98
Table: Medical Device Market, Key Ratios, 2014 99
Table: Medical Device Market By Product Area, 2014 99
Healthcare Overview 101
Health Status 101
Table: Incidence Major Cancers, 2011 102
Healthcare System 103
Healthcare Funding 106
Table: Financial Status Of The Health Insurance System, 2007-12 (KRW100mn) 107
Table: Health Insurance Spending On Medical Treatment, 2010-2013 (KRWbn) 108
Table: Government Health and Welfare Budget, 2010-2018 (KRWbn) 110
Healthcare Resources 110
Table: Inpatient Facilities by Type, 2008-2013 111
Table: Beds in Inpatient Facilities by Type, 2008-2013 112
Table: Medical Device Technology By Type, 2008-2013 (Units) 113
Table: Medical Device Technology By Type, 2005-2013 (Rate / mn population) 115
Table: Selected Medical Device Technology By Provider, 2013 (Units) 116
Healthcare Activity 117
Healthcare Personnel 117
Key Healthcare Data 118
Table: Key Healthcare Data, 2009-2014 118
Industry Trends And Developments 120
Industry Trends and Developments 120
Table: Medical Device Imports, Leading Suppliers, 2010-2014 (USDmn) 121
Table: Medical Device Exports, Leading Destinations, 2010-2014 (USDmn) 122
Table: Medical Expenditure By Age Group, 2009-2014 (KRW100mn) 126
Table: Medical Device Production, Top 20 Products, 2009-2014 (KRWbn) 130
Table: Medical Device Company Profitability Trend By Product Sector, 2009-2013 (%) 134
Table: Medical Device Industry, Key Financials, 2009-2013 (KRWmn) 135
Regulatory Development 138
Medical Device Regulations 138
Competent Authority 138
Regulations 138
Registrations 139
Market Vigilance 142
Medical Device Pricing and Reimbursement 143
Pricing 143
Reimbursement 144
Health Technology Assessment 146
Competitive Landscape 147
Domestic Medical Device Production 147
Table: Medical Device Production Trends (KRWbn) 2008-2013 147
Table: Medical Device Production By Broad Product Area, 2008-2013 (KRWbn) 148
Table: Medical Device Production By Broad Product Area, 2018-2013 (USDmn) 148
Table: Top 40 Medical Device Products By Category, 2009-2013 (KRWmn) 148
Table: Medical Device Production By Category, 2008-2012 (KRWmn) 150
Table: Medical Device Production By Category, 2008-2012 (USDmn) 152
Domestic Medical Device Manufacturing 154
Table: Medical Device Manufacturers, 2005-2013 154
Table: Medical Device Manufacturers By Company Size, 2013 155
Table: Medical Device Manufacturers By Output Value, 2013 155
Table: Medical Device Manufacturers By Region, 2013 156
Table: Top 20 Medical Device Manufacturers By Output Value, 2010-2013, KRWmn 157
National Medical Device Manufacturers 160
Table: Corentec Key Financials, 2010-2014 161
Table: Corentec Revenues By Product Area, 2011-2014 (KRWmn) 161
Table: CU Medical Systems, Key Financials, 2010-2014 162
Table: CU Medical Systems, Sales By Product Area, 2012-2014 (KRWmn) 163
Table: Osstem Implant Key Financials, 2010-2014 167
Table: Samsung Medison Key Financials, 2011-2014 169
Table: Samsung Medison Revenues By Product Area, 2011-2014 (KRWmn) 170
Table: Sewoon Medical Key Financials, 2010-2014 172
Table: Sewoon Medical Revenues By Product Area, 2011-2014 (KRWmn) 172
Table: Shinhung Key Financials, 2010-2014 173
Table: Shinhung Revenues By Product Area, 2011-2014 (KRWmn) 174
Table: Vatech Key Financials, 2010-2014 176
Table: Vatech Revenues By Product Area, 2012-2014 (KRWmn) 176
Table: Wonju Medical Equipment Techno Valley, Key Statistics, 2005-2015 178
Table: Wonju Medical Equipment Techno Valley Selected Manufacturers 179
Multinational Medical Device Manufacturers 180
Multinational Market Activity 182
Table: Multinational Activity Table, 2015 182
Medical Device Market Access 185
Market Environment 185
Distribution 185
Customs Duties 186
Free Trade Agreements 186
Trade Associations 187
Trade Fairs 187
Methodology 188
Forecast Methodology 188
Trade Code Classifications 189
Table: Rearranged HS Trade Codes 190
Risk/Reward Index Methodology 193
Table: Medical Devices Risk/Reward Index Indicators 194
Sources 196
Contact 197

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