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South Korea Medical Devices Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 167 pages

Includes 3 FREE quarterly updates

BMI View: South Korea will be one of the slower growing markets within BMI's Asia Pacific region,although it will still outperform other mature markets such as Japan, New Zealand and Australia. Medicaldevice imports will come under further pressure from locally produced products in certain sectors.Although the domestic manufacturing industry remains fragmented, the number of producers has more thandoubled in recent years and domestic output will continue to see steady growth as South Korea seeks tofurther reduce its reliance on imported products, whilst boosting its share of the global market.

Latest Updates and Key Forecasts

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

- We expect imports will see low single-digit growth in US dollar terms in 2015. Import growth will behigher in local currency terms as the Korea won continues to experience depreciatory pressure against theUS dollar in the near term. The running annual total reached USD3.0bn in the 12 months endedSeptember 2015, representing y-o-y dollar growth of 1.1%. We anticipate that the import share of themarket will continue to decline from around 55%.

Table Of Contents

South Korea Medical Devices Report Q1 2016
BMI Industry View 9
Table: Projected Medical Device Market, 2014-2019 9
SWOT 10
Medical Device Market 10
Industry Forecast 11
Medical Device Market Forecast 11
Latest Updates 11
Structural Trends 11
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn) 12
Consumables Market Forecast 17
Latest Updates 17
Structural Trends 17
Bandages and Dressings 18
Suturing Materials 18
Syringes, Needles and Catheters 18
Other Consumables 18
Table: Consumables Market, 2009-2019 (USDmn) 19
Table: Consumables Market, 2010-2019 (USDmn, % Change) 20
Diagnostic Imaging Market Forecast 21
Latest Updates 21
Structural Trends 22
Electrodiagnostic Apparatus 22
Radiation Apparatus 24
Imaging Parts and Accessories 24
Table: Diagnostic Imaging Market, 2009-2019 (USDmn) 25
Table: Diagnostic Imaging Market, 2010-2019 (USDmn, % Change) 26
Dental Products Market Forecast 27
Capital Equipment 28
Instruments and Supplies 28
Table: Dental Products Market, 2009-2019 (USDmn) 29
Table: Dental Products Market, 2010-2019 (USDmn, % Change) 29
Orthopaedics and Prosthetics Market Forecast 31
Latest Updates 31
Structural Trends 31
Fixation Devices 32
Artificial Joints 32
Other Artificial Body Parts 32
Table: Orthopaedics and Prosthetics Market, 2009-2019 (USDmn) 33
Table: Orthopaedics and Prosthetics Market, 2010-2019 (USDmn, % Change) 33
Patient Aids Market Forecast 35
Latest Updates 35
Structural Trends 35
Portable Aids 35
Therapeutic Appliances 35
Table: Patient Aids Market, 2009-2019 (USDmn) 36
Table: Patient Aids Market, 2010-2019 (USDmn, % Change) 36
Other Medical Devices Market Forecast 38
Latest Updates 38
Structural Trends 38
Table: Other Medical Devices Market, 2009-2019(USDmn) 38
Table: Other Medical Devices Market, 2010-2019 (USDmn, % Change) 40
Annual Medical Device Imports 42
Table: Medical Imports By Product Area, 2010-2014 (USD000s) 45
Table: Summary Medical Imports By Product Area, 2010-2014 (Local Currency 000s) 46
Table: Top 20 Medical Device Suppliers, 2014 (USD000s) 48
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s) 49
Table: Detailed Medical Device Import Trends By Product Area, 2014 52
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s) 55
Monthly Medical Device Imports 58
Table: Monthly Medical Device Imports By Product Area, Year Ending September 2015 (USDmn) 58
Annual Medical Device Exports 59
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s) 63
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s) 64
Table: Top 20 Medical Device Destinations, 2014 (USD000s) 66
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s) 67
Table: Detailed Medical Device Export Trends By Product Area, 2014 70
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s) 73
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s) 76
Monthly Medical Device Exports 79
Table: Monthly Medical Device Exports By Product Area, Year Ending September 2015 (USDmn) 79
Industry Risk/Reward Index 80
Table: APAC Medical Device Risk/Reward Index, Q116 81
Market Overview 82
Medical Device Market Overview 82
Table: Medical Device Market, Key Ratios, 2014 82
Table: Medical Device Market By Product Area, 2014 83
Healthcare Overview 84
Health Status 84
Healthcare System 85
Healthcare Funding 86
Table: Medical Expenditure By Age Group, 2009-2014 (KRW100mn) 87
Healthcare Resources 88
Table: Inpatient Facilities by Type, 2008-2013 90
Table: Beds in Inpatient Facilities by Type, 2008-2013 91
Table: Medical Device Technology By Type, 2008-2013 (Units) 92
Table: Medical Device Technology By Type, 2005-2013 (Rate / mn population) 94
Table: Selected Medical Device Technology By Provider, 2013 (Units) 94
Healthcare Activity 95
Healthcare Personnel 96
Key Healthcare Data 96
Table: Key Healthcare Data, 2010-2015 96
Industry Trends And Developments 99
Industry Trends and Developments 99
Table: Medical Device Imports, Leading Suppliers, 2010-2014 (USDmn) 100
Table: Medical Device Exports, Leading Destinations, 2010-2014 (USDmn) 101
Table: Medical Device Production, Top 20 Products, 2009-2014 (KRWbn) 104
Regulatory Development 108
Medical Device Regulations 108
Competent Authority 108
Regulations 108
Registrations 109
Market Vigilance 112
Medical Device Pricing and Reimbursement 113
Pricing 113
Reimbursement 114
Health Technology Assessment 116
Competitive Landscape 117
Domestic Medical Device Production 117
Table: Medical Device Production Trends (KRWbn) 2008-2013 117
Table: Medical Device Production By Broad Product Area, 2008-2013 (KRWbn) 118
Table: Medical Device Production By Broad Product Area, 2018-2013 (USDmn) 118
Table: Top 40 Medical Device Products By Category, 2009-2013 (KRWmn) 118
Table: Medical Device Production By Category, 2008-2012 (KRWmn) 120
Table: Medical Device Production By Category, 2008-2012 (USDmn) 122
Domestic Medical Device Manufacturing 124
Table: Medical Device Manufacturers, 2005-2013 124
Table: Medical Device Manufacturers By Company Size, 2013 125
Table: Medical Device Manufacturers By Output Value, 2013 125
Table: Medical Device Manufacturers By Region, 2013 126
Table: Top 20 Medical Device Manufacturers By Output Value, 2010-2013, KRWmn 127
National Medical Device Manufacturers 130
Table: Corentec Key Financials, 2010-2014 131
Table: Corentec Revenues By Product Area, 2011-2014 (KRWmn) 131
Table: CU Medical Systems, Key Financials, 2010-2014 132
Table: CU Medical Systems, Sales By Product Area, 2012-2014 (KRWmn) 133
Table: Osstem Implant Key Financials, 2010-2014 137
Table: Samsung Medison Key Financials, 2011-2014 139
Table: Samsung Medison Revenues By Product Area, 2011-2014 (KRWmn) 140
Table: Sewoon Medical Key Financials, 2010-2014 142
Table: Sewoon Medical Revenues By Product Area, 2011-2014 (KRWmn) 142
Table: Shinhung Key Financials, 2010-2014 143
Table: Shinhung Revenues By Product Area, 2011-2014 (KRWmn) 144
Table: Vatech Key Financials, 2010-2014 146
Table: Vatech Revenues By Product Area, 2012-2014 (KRWmn) 146
Table: Wonju Medical Equipment Techno Valley, Key Statistics, 2005-2015 148
Table: Wonju Medical Equipment Techno Valley Selected Manufacturers 149
Multinational Medical Device Manufacturers 150
Multinational Market Activity 152
Table: Multinational Activity Table, 2015 152
Medical Device Market Access 155
Market Environment 155
Distribution 155
Customs Duties 156
Free Trade Agreements 156
Trade Associations 157
Trade Fairs 157
Methodology 158
Forecast Methodology 158
Trade Code Classifications 159
Table: Rearranged HS Trade Codes 160
Risk/Reward Index Methodology 163
Table: Medical Devices Risk/Reward Index Indicators 164
Sources 166
Contact 167

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